San Francisco-based startup Campfire secures $65 million in a Series B funding round led by Accel and Ribbit, enabling the AI-first ERP company to accelerate migrations from legacy systems and scale its automated finance platform.
Highlights:
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Campfire raises $65 million in Series B funding, co-led by Accel and Ribbit, bringing total funding to over $100 million.
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The platform reports a 10× year-to-date revenue growth and has already migrated clients off legacy ERPs such as SAP.
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Campfire’s proprietary Large Accounting Model (L.A.M.) boasts 95% accuracy on key workflows like reconciliations and variance detection, empowering modern finance teams.
Summary:
Startup Campfire, founded in 2023 in San Francisco by former Invoice2go VP John Glasgow, has announced a $65 million Series B funding round, co-led by venture capital firms Accel and Ribbit. This injection boosts Campfire’s total capital raised to more than $100 million in just twelve weeks following its Series A.
Campfire offers an AI-native ERP platform designed to replace legacy systems such as SAP and Oracle. Its features include a unified general ledger, revenue automation, close-management, and real-time financial reporting — all powered by its proprietary Large Accounting Model (L.A.M.), which the company reports delivers up to 95% accuracy on complex accounting tasks.
The funding will be used to expand product development, accelerate enterprise migrations, and scale global operations as finance teams increasingly demand automation and intelligent workflows. With this momentum, Campfire positions itself as a next-generation alternative in the $3 trillion ERP market, aiming to help businesses close faster, operate smarter, and unlock deeper financial insight
