Campfire has raised $65 million in Series B funding, co-led by Accel and Ribbit Capital, with continued investment from Foundation Capital and Y Combinator, along with angel investors including Karim Atiyeh, Co-Founder & CTO at Ramp, Brad Floering, VP of Finance, FP&A at Snowflake, Steve Sidhu, Controller at Clay, Scott Buxton, CFO at Supabase, and Naeem Ishaq, Former EVP, CFO & Chief Strategy Officer at Checkr bringing total funding past $100 million.
The San Francisco-based company was founded by John Glasgow and builds an AI-driven enterprise resource planning (ERP) system for finance teams, a sector historically dominated by SAP and Oracle. This capital follows Campfire’s $35 million Series A just 12 weeks earlier.
The system supports migrations from legacy ERP platforms such as SAP. CEO John Glasgow said, “We built Campfire to reimagine ERP for the AI age with workflows that think, learn, and move as fast as finance teams do today.”
$65 Million Funding Expands Capabilities
The Series B funding will support the expansion of Campfire’s engineering and customer support teams and accelerate the development of AI-based workflows across the platform. The company reports 10× revenue growth year-to-date, reflecting adoption across both startups and publicly listed companies.
Campfire has completed multiple migrations from SAP, demonstrating its ability to manage enterprise-level accounting processes. The platform centralizes general ledger management, revenue recognition, close cycles, reconciliations, and auditing in one system. Automation reduces errors and decreases reliance on manual processes, enabling finance teams to focus on operational management.
The platform also provides built-in monitoring and reporting tools that meet public company compliance standards. It consolidates high-volume transaction workflows, maintaining audit-ready records without additional manual effort. Integration with multiple data sources ensures a seamless flow of revenue, expense, and ledger information, reducing the need for spreadsheets or separate tools. The funding will also support performance improvements, AI model training, and enterprise-level scalability.
AI-Driven ERP Streamlines Finance Workflows
At the core of the system is the Large Accounting Model (L.A.M.), a proprietary AI engine trained on accounting data. L.A.M. automates reconciliations, variance detection, and anomaly identification at 95% accuracy, handling routine and high-volume tasks. It supports both startups and public companies, reducing manual oversight while improving reporting efficiency.
CEO John Glasgow added, “Our goal is to streamline accounting workflows by embedding intelligence directly into finance operations. L.A.M. handles routine tasks, reduces errors, and allows teams to focus on decision-making rather than manual reconciliation.”
The platform integrates general ledger, revenue recognition, close processes, and auditing into a single interface. Automation allows real-time reporting, faster close cycles, and improved accuracy.
It replaces rigid legacy systems by consolidating multiple processes that previously required separate software tools. Finance teams can complete reconciliations, variance checks, and reporting more efficiently while maintaining audit-ready compliance. The platform enables consistent workflows, reduces the risk of errors, and ensures data accuracy across accounting functions.
With the Series B funding, Campfire will expand capabilities, scale operations, and continue migrating finance teams from legacy ERP systems. Its AI-first approach delivers improvements in efficiency, compliance, and reporting speed.
