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Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →Campfire announced a $35 million Series A led by Accel on June 30, 2025, pitching its AI-native accounting platform to fast-growing companies that have outgrown basic bookkeeping but find traditional ERP software cumbersome. Campfire says it has migrated more than 100 companies from legacy finance systems, including NetSuite—but that figure also includes QuickBooks, Sage Intacct and SAP replacements, so it is not a count of NetSuite wins alone. Since the Series A, Campfire has announced a $65 million Series B, making the earlier round a milestone rather than its latest financing event.
What Campfire’s $35 million Series A funded
Campfire announced the Series A on June 30, 2025. Accel led the round, with participation from Foundation Capital, Y Combinator and Capital 49, as well as finance and technology executives including Vercel CFO Marten Abrahamsen, Mercury CFO Dan Kang, former Atlassian CFO Alex Estevez, former MongoDB CFO Michael Gordon, former OpenAI controller Sowmya Ranganathan, and Airwallex co-founder and CEO Jack Zhang. Campfire’s announcement says it had previously raised a $3.5 million seed round and that its revenue grew tenfold in the preceding 10 months. Those growth figures are company-reported, not independently audited metrics.
The investor roster is notable for the number of finance leaders backing a company that wants to replace core accounting infrastructure. It signals confidence in the problem Campfire is addressing; it does not establish that the product is right for every company or that it has displaced NetSuite at a particular scale.
Why Campfire is going after NetSuite users
Campfire’s target customer sits between a lightweight bookkeeping setup and a broad enterprise ERP. A startup may begin on QuickBooks, then accumulate subscription or usage-based revenue, multiple legal entities, a growing audit trail and more demanding reporting. Its finance team needs stronger controls and consolidation, but may not need manufacturing, inventory or warehouse modules.
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Campfire argues that legacy ERP systems can involve slow implementation, specialist configuration and spreadsheet work. The company’s pitch is a finance-led platform that brings accounting, revenue recognition, close processes and reporting together with AI-assisted workflows. It is not proof that NetSuite is broadly losing its market: Campfire is addressing a narrower group of digitally native, high-growth businesses whose accounting complexity is rising faster than their finance headcount.
Founder experience shaped the pitch
Campfire was founded in 2023 by John Glasgow, a former Invoice2go executive. Invoice2go was acquired by Bill.com for more than $600 million. Glasgow has said that operating Invoice2go exposed limitations in legacy ERP software during growth and acquisition diligence, including reliance on extensive finance spreadsheets. Accel’s account of its investment describes that background and frames Campfire as an attempt to build a modern finance system of record. Glasgow’s experience gives him relevant operating context; it is not evidence that Campfire will outperform established systems in every implementation.
What Campfire’s product does—and does not claim to replace
Campfire’s public materials emphasize finance and accounting rather than every operational function in a large ERP suite. Its product includes:
- General-ledger accounting and multi-entity consolidation.
- Revenue recognition for subscription, usage, milestone, transaction and hybrid billing models.
- Real-time reporting with transaction-level drill-down.
- Close checklists, flux analysis and account reconciliation.
- Cash forecasting, bank and vendor matching, duplicate detection, amortization, anomaly detection and policy checks.
- More than 100 native integrations, support for more than 180 currencies, unlimited entities and more than 1,200 granular permissions, all figures stated by Campfire.
- Ember, Campfire’s accounting assistant and AI layer.
These are vendor-described capabilities. Campfire’s product pages do not make it safe to assume that the platform duplicates all of NetSuite’s operational breadth. A business that depends on inventory, manufacturing, warehouse management, supply-chain workflows or specialized project accounting should compare those needs module by module rather than treating “ERP” as a guarantee of equivalent scope.
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How strong is the evidence that Campfire is winning NetSuite customers?
The public evidence supports a narrower claim than “Campfire has taken more than 100 customers from NetSuite.” Campfire says it has migrated more than 100 companies from legacy systems that include NetSuite, QuickBooks, Sage Intacct and SAP. Accel repeats a more-than-100 figure for NetSuite and QuickBooks replacements, but does not break out the number from each source system. TechCrunch reported that Advisor360, Rhumbix and Fooji had moved from NetSuite to Campfire, based on information from the company.
Campfire also lists customers including Replit, PostHog, Decagon, TwelveLabs, Klarity, Flex, Midi Health, Advisor360, Coder and Fooji. A logo or customer listing alone does not establish which legacy system a company replaced, how much of Campfire it uses, the contract value or the scale of the deployment. Campfire’s customer materials cite outcomes such as more than 80 hours saved monthly, five to six days shaved from a close, $300,000 in operational savings and a 70% reduction in close time. These are marketing claims that should not be treated as independently verified results without customer confirmation.
What “AI-native ERP” means in practice
“AI-native” can mean more than placing a chatbot on top of an existing ledger. In Campfire’s framing, machine-assisted workflows are built into accounting tasks such as grouping transactions, suggesting actions, reconciling accounts, detecting anomalies and answering questions about financial data. The practical test is whether those capabilities reliably reduce work while preserving the review and controls a finance team needs.
Campfire says Ember can answer accounting questions with links to source transactions, and its product materials describe automated reconciliation and AI-driven anomaly detection. Those remain product claims. Buyers should establish which actions are suggestions, which can be executed automatically, and what approval and audit trail applies to each. AI is not itself an accounting-control framework.
- Can finance staff trace an answer or suggested journal entry back to source transactions?
- Are AI-generated classifications and entries reviewed and approved before posting?
- Are suggestions, overrides and approvals logged in a way auditors can inspect?
- How are incorrect recommendations handled, and what happens if the AI service is unavailable?
- Does the vendor explain whether customer data is used to train models?
- Do reconciliation, variance analysis and close tasks measurably reduce manual work for a company with similar transaction volume and accounting policies?
How Campfire compares with Rillet and DualEntry
Campfire is not the only newer finance platform courting companies looking beyond NetSuite. The following comparison reflects vendor-published product and implementation information, not an independent product test. Campfire’s claims about its advantages over Rillet are self-interested, and the other vendors’ feature and implementation statements are likewise marketing claims.
| Factor | Campfire | Rillet | DualEntry |
|---|---|---|---|
| Apparent fit | High-growth companies seeking a broad finance platform with accounting-focused AI workflows. | Finance-led companies seeking a faster NetSuite alternative, with multi-entity accounting and close management. | Companies interested in broad integrations, entity scalability and tiered feature plans. |
| Public numeric pricing | Not stated on the retrieved company pages; demo-led sales process. Campfire | Not stated on the retrieved plan page; pricing is described in relation to features and business complexity. Rillet | Not stated on the retrieved pricing page, which directs buyers to schedule a demo. DualEntry |
| Advertised implementation timing | Approximately 8–12 weeks, according to Campfire. Campfire | About 4–6 weeks or 45 days, depending on the page and complexity, according to Rillet. Rillet | Four to six weeks to go live, with implementation advertised as included, according to DualEntry. DualEntry |
| AI positioning | Ember assistant and accounting workflow automation. | AI agents for finance workflows. | AI, anomaly detection and accounting automation. |
| Evidence caveat | Capability, integration and timing claims are vendor-reported. | Capability and timing claims are vendor-reported. | Feature breadth, integration count and timing claims are vendor-reported. |
Campfire says it offers more than 100 native integrations; DualEntry advertises more than 13,000. Counts do not show whether a vendor supports the buyer’s specific systems or whether an integration handles the required data reliably. Rillet advertises multi-entity and global accounting, close management, real-time reporting and SOX readiness. DualEntry advertises general ledger, accounts payable and receivable, cash management, purchase orders, close management, reconciliations, revenue recognition, fixed assets and controls. The details should be checked against actual workflows and contract commitments.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Where NetSuite or another established system may still make more sense
A finance-focused challenger can be attractive when the core job is accounting, consolidation, revenue recognition and close management. A mature, broader ERP may remain a better fit when the company depends on extensive operational modules, specialized workflows, established controls or a large implementation-partner ecosystem. Conversely, adopting a broad suite early can mean paying for complexity a startup does not yet need.
There is also a middle path: keep the accounting system and add a close-management or revenue tool, rather than undertake a full ERP migration. That can reduce disruption, but leaves the company managing more systems and integrations. The right comparison is between the workflows the business actually uses—not just the brand names or the presence of AI.
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What to check before replacing an ERP
An implementation estimate is not a guarantee. Campfire’s 8–12 week estimate and competitors’ shorter advertised windows are vendor claims; actual timing depends on data condition, system complexity, integrations, controls and the scope of the migration. A responsible buyer should build a migration and control plan before signing.
- Test the accounting model. Use representative subscription, usage-based, milestone, transaction and hybrid contracts. Confirm how contract modifications, variable consideration and applicable standards such as ASC 606 are handled.
- Map entities and jurisdictions. Document intercompany accounting, consolidation and eliminations, currencies, tax and local statutory reporting requirements. Verify coverage for every jurisdiction that matters.
- Walk through controls and audit evidence. Review roles, approval paths, segregation of duties, audit trails and journal-to-source traceability. Ask for relevant security and control documentation, and assess SOX readiness if required.
- Specify migration scope. Agree how historical data, open balances, chart-of-accounts mappings and revenue schedules will be converted. Require parallel-close testing, reconciliation of old and new reports, and clear sign-off criteria.
- Validate every critical integration. Test billing, payroll, banking, procurement, CRM, expenses, payments, the data warehouse and planning tools using the company’s real data flows.
- Check operational coverage. List requirements for inventory, manufacturing, warehouse operations, supply chain and project accounting. Do not assume a finance platform covers them because it is called an ERP.
- Get the commercial and exit terms in writing. Ask how charges vary by entity, transaction volume, modules or usage; clarify implementation and support fees, contract minimums and renewal increases. Confirm data export, retention and rollback options if the company later leaves.
- Define AI governance. Determine which actions require human approval, how outputs are logged, how errors are corrected and what service continuity looks like when AI features are unavailable.
What the Series B changes—and what it does not
Campfire later announced a $65 million Series B co-led by Accel and Ribbit Capital, with continued participation from Foundation Capital and Y Combinator. The company said the round came 12 weeks after the Series A and brought total funding above $100 million. Campfire’s Series B announcement shows that investors continued to finance the company’s expansion, and that its positioning had broadened toward an “agentic” finance platform.
More capital can support product development and customer growth, but it does not establish retention, long-term reliability, successful audit histories or product-market fit. For buyers, the substantive test remains whether Campfire can run their accounting accurately and controllably over time—and whether its finance-focused scope matches the systems they need to replace.
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