Campfire – a Y Combinator-backed startup modernizing accounting software for startups and midsize companies – announced it closed a $3.5 million seed funding round led by Foundation Capital and joined by Y Combinator and Twenty Two Ventures. And Campfire will use the funding to attract talent and further support its flagship products, which provide a modern general ledger and automate revenue processes.
As legacy accounting solutions are designed for sole proprietors or huge conglomerates across industries, Campfire is focused on serving startups and mid-size technology companies. And these companies require user-friendly software, modern APIs for building custom workflows and integrations, and features that bridge the gap between basic functionality and enterprise-level complexity. Campfire is simple and scalable, offering two distinct yet synergistic products: Revenue Automation and Core Accounting.
Campfire’s Revenue Automation software is a comprehensive suite of tools for revenue recognition, invoicing, billing, and KPI reporting. And its Core Accounting product, which was publicly announced today after an extended private beta with customers of various sizes, includes core accounting features such as financial reporting, a general ledger that supports multi-entity and currency consolidation, and treasury management, all complemented by seamless integrations and scalable to millions of transactions. These products form a powerful combination that makes accounting and financial reporting more efficient, intuitive, and impactful.
KEY QUOTES:
“Our mission is to give accounting and finance teams superpowers to do their best work by automating mundane tasks so they can focus on high-value, strategic work.”
– John Glasgow, Chief Executive Officer and Co-founder of Campfire
“I invested in Campfire because the founders have the deep industry experience to pull it off, the product is very impressive, and the team is shipping new features at an unbelievable pace. Campfire is the ERP I wish I had when my last company outgrew QuickBooks.”
– Angus Davis, General Partner at Foundation Capital
