Campfire, a FinTech company revolutionising ERP with AI-driven financial automation, has raised $65m in a Series B funding round.
The investment was co-led by Accel and Ribbit, with participation from Foundation Capital, Y Combinator, and several prominent industry executives including Karim Atiyeh, co-founder and CTO at Ramp, Brad Floering, VP of finance and FP&A at Snowflake, Steve Sidhu, controller at Clay, Scott Buxton, CFO at Supabase, and Naeem Ishaq, former EVP, CFO and chief strategy officer at Checkr. This latest round brings Campfire’s total funding to $100m in just 12 weeks, highlighting the growing demand for its technology.
Campfire develops AI-powered ERP solutions designed to help finance teams automate manual processes and accelerate workflows. Its platform enables companies to close their books up to five times faster, reclaiming as much as 144 days annually for strategic growth and analysis. Clients include some of the world’s fastest-growing firms such as PostHog, Decagon, and Replit, which have adopted Campfire to replace legacy systems and streamline financial operations.
The new capital will support the company’s ongoing expansion, focusing on advancing its AI capabilities, expanding accounting modules, and hiring new talent. Campfire plans to deepen its investment in product innovation and strengthen partnerships with next-generation finance teams as it scales across enterprise markets.
The company recently unveiled its proprietary AI engine, the Large Accounting Model (LAM), trained exclusively on accounting data. LAM achieves over 95% accuracy on key accounting functions including reconciliations and variance analysis, positioning Campfire at the forefront of intelligent finance technology. The system marks a significant milestone in transforming ERP from a traditional system of record into a “system of action”.
The company’s growth has been dramatic, reporting a 10× increase in revenue year-to-date, fuelled by strong enterprise adoption and migrations from legacy systems like SAP. Campfire has also secured partnerships with publicly traded companies such as LimaOne, underscoring its expanding influence across industries.
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