What Fluence Technologies does

Fluence Technologies is a Toronto-based, privately held fintech founded in 2018 that sells financial close, consolidation, and reporting software exclusively to mid-sized companies in North America and Europe. The company positions itself as the only vendor focused solely on this mid-market segment, competing against broader enterprise performance management platforms. Its core platform was assembled through two strategic acquisitions: XLCubed (UK, November 2021) contributed Excel-centric reporting and analytics plus a base of over 750 customers and a global partner network, and Sturnis365 (Italy, July 2022) added collaborative disclosure management, narrative reporting, and ESG reporting capabilities. Together these create a workflow spanning consolidation, Excel-based analytics, and regulated disclosure output.

Fluence generates revenue through subscription and software licensing on a recurring basis, sold primarily via an enterprise field sales motion targeting mid-market finance and operations leaders, with channel partner distribution inherited from XLCubed. The go-to-market emphasizes direct engagement with CFOs and controllers in mid-sized companies, supplemented by industry events, analyst relations, and digital content marketing. Pricing is not publicly disclosed, but the horizontal mid-market positioning suggests ACVs in the mid-five to low-six-figure USD range.

The company is led by CEO Michael Morrison (appointed 2021, replacing founder John Power) and is backed by Banneker Partners, which led both the May 2021 $12.5M CAD Series A and a follow-on $10M round in September 2021. The post-2021 leadership bench was substantially expanded with a new CRO, CFO, CTO, and VPs of Product, Channel Sales, Operations, and Customer Success, consistent with a company scaling from product-market fit into institutional growth mode across Canada, the US, the UK, and continental Europe.

Name

Fluence Technologies

Legal name

Fluence Technologies Inc.

Website

https://fluencetech.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

Fluence Technologies is a Toronto-based fintech that sells financial close, consolidation, and disclosure management software exclusively to mid-sized companies in North America and Europe, with capabilities expanded through its 2021 acquisition of XLCubed (UK) and 2022 acquisition of Sturnis365 (Italy).

Ownership category

akta.pro rank

Product category

Financial Consolidation Software

NAICS

Software Publishers (513210), Software Publishers (5132)

SIC

Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Intercompany & Consolidation Support (Eliminations, Group Reporting Support) (BPAAAGAG)

akta.pro secondary industry

Software/SaaS Subscriptions (Consumer & Prosumer) (CRAFAIAB)

Keywords

• Financial consolidation software
• Financial close reporting
• Disclosure management
• Excel-centric analytics
• Mid-market EPM

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Financial Software Platform: Software licensing and subscription revenue from financial consolidation, reporting, and analytics platform targeting mid-sized companies

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Fluence Technologies sells a financial close and consolidation software platform for mid-sized companies, providing financial consolidation, reporting, disclosure management, and narrative reporting capabilities. The platform has been expanded through the acquisitions of XLCubed (Excel-centric reporting and analytics) and Sturnis365 (collaborative disclosure management), and is offered primarily via subscription to mid-market finance teams.

Product overview

Fluence Technologies offers a financial consolidation and reporting platform that has been expanded through strategic acquisitions. The company acquired XLCubed (Excel-centric reporting and analytics software) and Sturnis365 (disclosure management and narrative reporting software) to enhance its data and reporting solutions for mid-sized companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Fluence Financial Consolidation and Reporting Platform Financial close and consolidation software for mid-sized companies, providing financial consolidation, reporting, and analytics capabilities. Expanded through acquisitions of XLCubed and Sturnis365.
• XLCubed Excel-centric reporting and analytics software providing reporting and analytics capabilities for financial consolidation, serving customers acquired via XLCubed.
• Sturnis365 Collaborative disclosure management and narrative reporting software enabling organizations to manage and report financial disclosures, including ESG reporting.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Workiva: Workiva provides collaborative disclosure management and narrative/ESG reporting on a connected cloud platform, directly overlapping the Sturnis365 capabilities that Fluence acquired.
• Lucanet: Lucanet specializes in financial consolidation, reporting, and compliance for mid-sized European companies, making it one of the closest direct competitors given Fluence's transatlantic footprint.
• BlackLine: BlackLine provides cloud-based financial close and account reconciliation software widely adopted by mid-market controllership teams, intersecting with Fluence's close and consolidation scope.
• Prophix: Prophix offers mid-market-focused corporate performance management including financial consolidation, budgeting, and reporting, competing directly with Fluence for the same finance leader buyer.
• Vena Solutions: Vena delivers Excel-native FP&A and financial planning software for mid-market companies, mirroring Fluence's Excel-centric XLCubed heritage and mid-market positioning.
• OneStream Software: OneStream is a direct competitor offering a unified corporate performance management platform for financial consolidation, reporting, and planning; it increasingly targets the same mid-market segment that Fluence focuses on.
• Board International: Board delivers a unified decision-making platform that includes financial consolidation, planning, and reporting capabilities targeting mid-sized and enterprise finance teams across Europe and North America.

Broad incumbents

• Anaplan: Anaplan is a broader enterprise planning platform with dedicated financial consolidation, disclosure management, and planning applications that compete head-on with Fluence's integrated platform.
• CCH Tagetik (Wolters Kluwer): CCH Tagetik provides financial close, consolidation, and regulatory reporting software owned by Wolters Kluwer, competing with Fluence particularly in European mid-market and enterprise accounts.
• insightsoftware: insightsoftware offers a broad portfolio of financial reporting, consolidation, and EPM tools with strong Excel integration, competing with Fluence across reporting and analytics workloads.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/fluencetechcom
• Facebookfacebook.com/Fluence-Technologies-102160491517334

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fluence Technologies