FreshBooks is a cloud-based accounting software service designed for owners of the types of small client-service businesses that send invoices to clients and get paid for their time and expertise. It was founded by Mike McDerment and Joe Sawada in 2003 out of McDerments previous Internet marketing consulting business Anicon. The company traces its origins to McDerment inadvertently losing an invoice record by overwriting (saving another on top of it) in 2003 and sought a new way to manage the accounting for his own business. The company represents itself to have provided its service to more than five million customers. The product was first eponymously named 2ndSite and synonymous with the company. The company rebranded the product in 2006 as FreshBooks based on then burgeoning Web 2.0 style. Industry accolades include the 2013 Stevie Awards for customer service and the 2013 IXDA Award for iPhone design. Based in Toronto, Canada, FreshBooks serves paying customers in over 120 countries.