Campfire, a company specializing in AI-native enterprise resource planning (ERP) software, announced that it has raised $35 million in Series A funding. The funding round was led by Accel, with contributions from existing and new investors including Foundation Capital, Y Combinator, Capital 49, and several angel investors such as Marten Abrahamsen, CFO at Vercel; Dan Kang, CFO at Mercury; Alex Estevez, Former CFO at Atlassian; Michael Gordon, Former CFO at MongoDB; Sowmya Ranganathan, Former Controller at OpenAI; and Jack Zhang, Co-Founder & CEO at AirWallex.
ERP is a significant market within the enterprise software industry, valued at over $1 trillion and dominated by companies such as Oracle, SAP, and Intuit. These older platforms have faced challenges in meeting the needs of modern businesses. Campfire is addressing this gap by developing an AI-first ERP platform that has attracted customers from established providers, including NetSuite and SAP.
Campfire’s GenAI conversational interface, Ember AI, uses Anthropic’s Claude models to enable finance teams to interact with data through natural language, conduct advanced reporting, and automate manual tasks, thereby improving productivity and financial insights.
The platform has been adopted by various enterprises, including Replit, Trust & Will, and Coder, which have commended its user-friendliness, automation capabilities, and support for complex, global operations.
The ERP market is undergoing significant changes due to the influence of AI and cloud-native architectures. Campfire’s team in San Francisco has quickly developed an AI-native ERP designed to support companies from startup stages through IPO. The new funding will support the company’s ongoing initiatives.
Finance Forward: Campfire is also introducing Finance Forward, a summit dedicated to providing finance and accounting teams with the tools, knowledge, and community necessary to succeed in the AI era.
How the funding will be used: The funding aims to advance the company’s goal of enhancing finance for the AI era, focusing on product development, investments in GenAI, and expanding its global reach.
KEY QUOTES:
“I founded Campfire because, as a customer, I lived through the pain of a legacy ERP that was holding us back. Our team has rebuilt ERP from the ground up, leveraging the latest in AI and modern architecture so finance teams can accelerate their monthly close, unlock deeper financial insights, and make smarter decisions. Accel was a great partner and investor from my time at Invoice2go, where I was an exec and led the company’s $625 million sale to Bill.com. I’m thrilled to be partnered with the Accel team again. Their conviction and partnership provide credibility and confidence for the next stage of growth.”
John Glasgow, Campfire CEO and Founder
“At Accel, we have a long history of backing transformative software companies—including CrowdStrike, which redefined cybersecurity; Slack, which revolutionized workplace productivity; and Scale AI, which set the standard for AI infrastructure. We believe Campfire has the potential to reshape the ERP market similarly. We have worked with John Glasgow previously, and believe his deep experience in finance gives him unique insight into the challenges CFOs face and how AI can elevate finance teams. Campfire’s rapid product execution, customer traction, and vision for an agentic future make them uniquely poised to lead this next wave of innovation.”
John Locke, Partner at Accel and Campfire Board Director
“I’ve implemented Campfire entirely in-house, not once, but twice. Both times, we closed our books just three weeks after signing. At Flex, 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. With Campfire, we went from incomplete reconciliations to full GAAP accrual accounting and significantly faster close. It’s a modern, AI-powered platform that will grow with us well into the future—automating what used to take teams of people, with no consultants required.”
Brian Ehrlich, Finance Director at Flex
“As a lean team with complex, high-volume needs, NetSuite created more friction than momentum as we continued to scale. Campfire was the modern ERP that could move at our pace. Campfire has helped us streamline financial processes, increase velocity, and build the foundation to scale with the business, while helping us stay lean as we grow.”
Zach Doyle, Accounting Manager at Advisor360
“As a fast-growing AI software development company, our accounting team manages complex customer contracts. Campfire is the AI-native ERP flexible enough to keep up, automating complex revenue logic and providing us with clarity as we scale.”
Daniel deCoen, Controller at Coder
“At Trust & Will, our rapid growth introduced complex financial challenges that required a modern, flexible infrastructure. As an AI-native ERP, Campfire uniquely matched the speed, complexity, and ambition of our business. By automating manual processes and delivering deeper financial insight, Campfire has given our team the clarity and time to focus on strategic work and partner with us as we scale.”
Ron Wangerin, CFO at Trust & Will
