Campfire is shaking up the world of finance software with a fresh approach to enterprise resource planning (ERP). The company just announced a $65 million Series B funding round, led by Accel and Ribbit Capital. This new funding will help Campfire develop its innovative platform and reach more finance teams looking to upgrade from outdated systems.

Revamping Traditional ERP for the Modern Age

The ERP market has been dominated by big names like SAP and Oracle for decades. Many of these systems haven’t changed much since the 1990s. As a result, finance teams often struggle with clunky, slow, and inflexible tools. Campfire aims to change that by creating a new kind of ERP built for today’s fast-paced, global finance operations.

Founder and CEO John Glasgow explained that legacy ERPs were designed for a different era. He said Campfire’s goal is to reimagine ERP for the age of artificial intelligence. The platform is designed to be smarter, more agile, and capable of keeping up with modern finance teams’ needs.

Harnessing AI to Transform Financial Workflows

A key part of Campfire’s strategy is its use of AI. The company recently introduced L.A.M., or Large Accounting Model, a proprietary AI trained specifically on accounting data. This AI can automate common financial tasks with high accuracy, reducing manual work and errors.

L.A.M. already achieves about 95% accuracy on tasks like reconciliations and variance detection. This represents a significant step toward fully intelligent finance operations. The new funding will support further development of these AI features and help expand the platform’s capabilities.

Campfire’s platform offers a complete replacement for traditional ERPs. It includes tools for general ledger management, revenue automation, and closing processes—all within a single, easy-to-use system. The goal is to make financial management faster, clearer, and more efficient for finance teams everywhere.

Growing Fast and Gaining Trust

The company has seen impressive growth, with revenue increasing tenfold so far this year. It has also formed new partnerships with public companies listed on the NYSE. This momentum shows strong industry interest in modern financial software powered by AI.

Campfire’s platform aims to help companies migrate away from legacy systems and streamline their core financial processes. By providing intuitive software that saves time on monthly closes and delivers better insights, the company is positioning itself as a major player in the finance tech space.

With over $100 million in funding and a clear vision, Campfire is well on its way to transforming how finance teams operate. Its innovative use of AI and focus on modern, efficient workflows make it an exciting company to watch in the coming months and years.

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