Campfire Software, a San Francisco-based company reimagining enterprise resource planning (ERP) for finance teams, announced it has raised $65 million in Series B funding co-led by Accel and Ribbit. This funding round follows closely on the heels of Campfire’s $35 million Series A just 12 weeks prior, bringing its total funding to over $100 million in record time.
The new financing underscores Campfire’s rapid growth and rising influence in the global finance technology sector. The company has seen tenfold year-to-date revenue growth as teams across six continents adopt its AI-first ERP platform to automate manual work, close financial books faster, and scale operations efficiently.
The Series B also included continued backing from Foundation Capital and Y Combinator, alongside notable angel investors such as Karim Atiyeh of Ramp, Brad Floering of Snowflake, Steve Sidhu of Clay, Scott Buxton of Supabase, and Naeem Ishaq, formerly of Checkr.
Campfire is positioning itself as a modern alternative to legacy systems like SAP and Oracle, which have dominated the ERP market for decades. As artificial intelligence reshapes business operations, the company aims to redefine finance workflows through automation and intelligent analytics.
Its proprietary AI model, L.A.M. (Large Accounting Model), was developed specifically for accounting automation and has already achieved 95% accuracy in reconciliations and variance detection, marking a key milestone toward fully autonomous financial operations.
The company’s customers include a mix of startups and large enterprises, such as PostHog, Decagon, Replit, Heidi Health, Klarity, CloudZero, and Advisor360—all of whom have migrated from older systems to Campfire’s unified platform. The software’s appeal lies in its blend of intuitive design and robust automation, enabling finance teams to focus on analysis rather than repetitive administrative tasks.
Investors see Campfire as a significant disruptor in the $3 trillion ERP market. Its impressive momentum, including large-scale migrations off SAP and partnerships with publicly traded companies, signals a growing appetite for next-generation financial infrastructure. With this latest round, Campfire plans to expand globally further and continue innovating in AI-driven financial systems.
KEY QUOTES:
“Legacy ERPs are structured for a different era, and as a finance exec I felt that pain firsthand. We built Campfire to reimagine ERP for the AI age with workflows that think, learn, and move as fast as finance teams do today. We’re proud to deepen our partnership with Accel, who led our Series A, and to welcome Ribbit as a new partner as we bring that vision to more companies around the world.”
— John Glasgow, Founder & CEO, Campfire
“Campfire is modern, flexible, and has an intuitive design that makes day to day tasks less of a grind. I’m looking forward to spending more time analyzing, and less time troubleshooting clunky processes. Campfire’s AI automates your reconciliations, flags anomalies, and even helps draft reports. It’s a real game changer.”
— Ryan Ang, Controller, Decagon
“Since we operate in the public markets, we have to be thoughtful with every decision we make. Our team was impressed by the robust features, extensibility of the platform, and granularity of permissioning for a SOX environment. We’ve enjoyed building with the Campfire team to modernize the future of our accounting, together.”
— Patrick Journy, CFO, LimaOne (NYSE: MFA)
“Campfire is building a special company. We’re excited to deepen our partnership with John Glasgow and the team, and to work with our friends at Ribbit. Campfire is addressing a massive opportunity in the market, and we look forward to doing the work together to build the ERP for the future.”
— John Locke, Partner, Accel
“Campfire caught our attention by solving a problem every CFO knows: finance teams still rely on Excel and email while the rest of the organization moves on to modern software. John understands the reality of financial operations because he’s experienced them, and that authenticity drives every product decision. By quietly building the infrastructure that makes AI in finance useful, Campfire represents exactly what Ribbit looks for: companies that transform critical but historically underserved functions and industries.”
— Nick Shalek, General Partner, Ribbit
