📝 Campfire raises $35M

Liam Gill
July 01, 2025

News of the Day

AI accounting startup Campfire has raised a $35 million Series A led by Accel to take on legacy ERP giants like NetSuite with a modern, LLM-powered alternative that automates financial tasks from cloud bill reconciliation to M&A due diligence. Launched in 2023 by seasoned finance exec John Glasgow after the $625 million sale of Invoice2go, Campfire has already attracted 100+ customers — including Replit and Advisor360 — with some ditching NetSuite entirely and cutting their month-end close time from 15 days to just three. Backed by Y Combinator and notable angels, the 12-person startup is already powering a client with $250 million in ARR, convincing Accel's John Locke to lead an unusually large A-round for a company this early — betting big on a $56 billion ERP market ripe for AI disruption.

Yes. A few miscellaneous thoughts.
(1) First, the new bottleneck on AI is prompting and verifying. Since AI does tasks middle-to-middle, not end-to-end. So business spend migrates towards the edges of prompting and verifying, even as AI speeds up the middle.
(2) Second, AI
— Balaji (@balajis)
6:04 AM • Jun 28, 2025

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