DualEntry Emerges from Stealth for AI-Fueled ERP

DualEntry, an AI-native enterprise resource planning platform, has emerged from stealth with a juicy $90 million Series A round.

In its announcement, the New York-based firm said the financing was co-led by Lightspeed Venture Partners and Khosla Ventures, with participation from GV (Google Ventures), Contrary, and Vesey Ventures. The raise brings the company’s total funding to more than $100 million in 18 months since launch.

The company wants to disrupt the $500 billion ERP market with an AI-first approach. DualEntry’s platform has already processed $100 billion worth of journal entries with AI automation, saved businesses thousands of hours on implementation and data migration, and signed thousands of global users across industries – from startups with $5 million in revenue to NYSE-listed firms with hundreds of millions in ARR.

“Our customers range from high-growth startups to NYSE-listed companies. They close their books the same day, report in real time, and achieve more with leaner teams,” said Santiago Nestares, Co-Founder of DualEntry, in a LinkedIn post.

Customers’ stories

Despite being in stealth mode for a while, DualEntry has been active and got some useful recommendations.

Slash, a banking platform with over $100 million in annual recurring revenue, runs on DualEntry with just a single finance team member.

Trillion Digital, a crypto-native trading firm, also adopted DualEntry to streamline its accounting operations.

“The ability to reconcile and match transactions on a semi-automated basis is the major enhancement we’ve seen after switching to DualEntry. It makes it much easier for us to reconcile thousands and thousands of transactions on a daily basis,” said Daniel Berz, CEO of Trillion Digital.

Targeting finance teams

DualEntry offers an ERP suite covering general ledger, accounts receivable, accounts payable, live bank connections, audit controls, FP&A, and more. Designed for multi-entity, multi-book, and multi-currency accounting, it is built to scale from mid-market businesses to IPO-ready enterprises without the need for add-ons or external IT support.

“We built DualEntry to get businesses of any size and complexity live in 24 hours, migrating their data quickly with AI-powered mapping – adding value from day one,” added Nestares.

AI features and migration capabilities

According to DualEntry, in-house accountants have helped design AI-powered workflows including bank matching, flux commentary, copilot, intercompany allocations, reconciliations, and anomaly detection. Its 13,000+ integrations across banking, AR, AP, CRM, HRIS, and other systems let businesses build a “unified source of truth”, replacing spreadsheets and silos with real-time dashboards for CFOs.

The company’s NextDay Migration solution uses the “world’s first ERP migration engine” to move entire accounting suites – including line items, subledgers, and attachments – into DualEntry within 24 hours. Customers have migrated from NetSuite, Sage Intacct, SAP, Microsoft Dynamics, Great Plains, QuickBooks, Peoplesoft, and Xero.

The future of ERP in an AI era

As we all know, across the world, AI is having a major impact.

“Seventy-five percent of CPAs are set to retire in the next decade,” said Benedict Dohmen, Co-Founder of DualEntry. “This funding comes at a time in the accounting industry where finding new, modern solutions is not a nice-to-have, but a must. In the past, companies that didn’t shift from on-premise to cloud systems found themselves left behind. Now, the possibility to transition from cloud systems to AI-powered systems is widening the gap even further.”

You could argue that new (and human) CPAs would have been happy to take the place of those retirees, but let’s not take the shine off this latest news. DualEntry has entered the tech arena and is clear about its ambitions.