DualEntry Lands $90M Series A to Disrupt ERP with AI Migration

DualEntry, an artificial intelligence startup focused on automating financial workflows, has secured $90 million in Series A funding. The round was led by Lightspeed Venture Partners and Khosla Ventures, with participation from GV (Google Ventures), valuing the New York-based company at $415 million. Launched just a year ago, DualEntry aims to disrupt the enterprise resource planning (ERP) market, currently dominated by providers like Oracle NetSuite, Sage, and Acumatica. DualEntry differentiates itself with its "NextDay Migration" feature, designed to migrate a company's historical financial data from existing systems to its platform within 24 hours. This rapid implementation targets mid-market firms seeking to upgrade from basic accounting software such as QuickBooks but are deterred by the typically lengthy and complex ERP implementation process. CEO Santiago Nestares, drawing from his own experience with a problematic ERP migration, believes DualEntry offers a superior alternative. DualEntry argues that conventional ERP systems rely on outdated technology, resulting in complex and expensive deployments. The company's AI-powered platform seeks to address these challenges by providing a more streamlined and efficient solution. This substantial funding round underscores investor confidence in AI-driven enterprise software and the increasing demand for enhanced business solutions.