Campfire Raises $35 Million Series A to Build AI-Driven ERP

Whats Happening:

Campfire, an emerging leader in AI-native enterprise resource planning (ERP) software, has secured $35 million in Series A funding led by Accel. The company aims to disrupt the $1 trillion ERP market dominated by legacy incumbents like Oracle, SAP, and Intuit. Campfire's platform leverages AI to automate financial processes and provide deeper insights for finance teams.

Key Moves:

• Campfire raises $35 million in Series A funding led by Accel

• Company develops AI-native ERP platform to challenge legacy incumbents

• Funding will accelerate product development and expand market reach

By The Numbers:

• ERP market capitalization exceeds $1 trillion

• $35 million raised in Series A funding

• Campfire's platform supports companies from startup through IPO

Key Quotes:

• "I founded Campfire because, as a customer, I lived through the pain of a legacy ERP that was holding us back," said John Glasgow, Campfire CEO and Founder.

• "At Accel, we have a long history of backing transformative software companies...We believe Campfire has the potential to reshape the ERP market similarly," said John Locke, Partner at Accel.

• "Campfire saved us over $300K in implementation costs, avoided hiring 1–2 full-time staff, and provided us with a scalable system that supports us through 1,000+ employee growth," said Brian Ehrlich, Finance Director at Flex.

Bottom Line:

Campfire's $35 million Series A funding marks a significant step in the company's mission to redefine finance for the AI era. By leveraging AI and modern architecture, Campfire aims to provide finance teams with a more efficient, insightful, and scalable ERP solution. The investment and backing from Accel position Campfire to challenge established players in the trillion-dollar ERP market.

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