AI -driven accounting startup Campfire It announced on Monday that it collected 35 million series A, led by ACCEL, which was attended by Foundation Capital, Yi Combinator, Capital 49, and angel investors, including Mercury’s CFO Dan Kong.
“Within nine months of configuration, users (along with) 100 employees were cutting the net swite in the north of 100 employees and putting them into the campfire,” said John Glasgow, CEO of the founder. The campfire says some of the campfire users who have migrated from the net swite include the Wealth Management Platform Advisor 360, Construction Software Startup Rambix, and Customer Experience Company Fuji.
It was partly, as Glasgow attended the YC in the summer of 2023, despite being more experienced than the founder of 20 or YC. He described the age difference with a ridiculous story: During the YC Bingo event, “one of the Bingo was to find a person who is a parent, and I was a hot commodity in YC Bangu.”
Glasgow already had a decade and a half to work for a half -decade career finance, Union Square Advisors, and others. When his manager from Adobe left for a ACC -backed start -up, a manager named Invoice 2 GO, he took Glasgow with him. Less than a year after, in the fall of 2021, Bill Dot The invoice purchased 2GOs for about $ 625 million.
Glasgow injured both cash and an idea to make his startup, which will reconcile with payments, predict taxes, and – the part he discovered during the Invoice 2GO deal – will automatically make itself automatically in finance for M&A.
He launched a campfire for the Enterprise Resource Planning Software (ERP), like the Net Swite with an LLM -powered alternative, in 2023.
Camp fire works like AWS Cloud Computing Bills automatically and reconciles. This creates a detailed analysis of cash flow from the natural language indicators, the charts and answers to questions.
He said of the time to finalize the books every month, “One of our customers arrived for 15 days to three days when they torn the net swite and put it in the campfire.”
The famous YC’s access to the other fellow Aloms helped him to start -up tech startup as a consumer like Sierra A and Republic. Not only has he removed a Unicorn Fantic Startup Mercury as a consumer, but his CFO has invested.
While there is only a scope in terms of its effects on the campfire Oracle Billion dollars (and rising) Net Swit BusinessStartup gained enough users to prove its competitive capacity.
Glasgow said that at the stage of its seeds, the campfire has increased to close to 100 users and now it includes 12 employees, of which a global customer has achieved the way to make 250 million RRs.
“I was surprised that there were business -sized businesses that were relying on the badge stage project, consisting of 10 people on their entire ERP,” John Lok of Excel, who supported the invoice 2GO, told Tech Crunch that he had attracted the campfire.
Folk usually invest in the growth stage. But the total ERP software market worth $ 56 billion in 2024, such as “Doors” and in 2024, According to some market research reportsLocka was in leading and he was big.
“(The) AERP business is huge, and we think life is really the right person. So why don’t we do $ 30 (million) Million 35 million series A, and really go for it?” He told Glasgow and his partners. So they did.