Campfire Raises $100M to Reinvent ERP Software for Modern Finance Teams

What Campfire Does

Campfire operates as an AI-native ERP platform designed specifically for mid-market and early enterprise finance and accounting teams. The platform functions by bringing together critical financial components—including the general ledger, revenue automation, close management, and reporting—into a single, unified interface. At the core of its technology is the proprietary Large Accounting Model (L.A.M.), which is trained on accounting data to automate complex tasks such as reconciliations, anomaly detection, and reporting with industry-leading accuracy.

How Campfire Fits into the Current ERP Landscape

The global ERP market, currently valued at $56 billion, has long been dominated by legacy giants like SAP and Oracle’s NetSuite. However, the industry is currently undergoing a massive reshaping driven by artificial intelligence. Modern finance teams are increasingly demanding systems that can eliminate manual work, deliver real-time insights, and significantly speed up the process of closing the books. Campfire has emerged as the leading AI-native ERP driving this change.

Although Campfire is still early in its scaling phase compared to Oracle’s billion-dollar NetSuite business, the company has quickly proven its competitive strength in a crowded market. Within its first year of operation, the company grew its client base to approximately 100 customers. This roster includes a global business on track to reach $250 million in ARR. Even at the 10-person seed stage, major companies trusted Campfire to run their entire financial operations, signaling a shift in market trust toward AI-first solutions.

This early traction drew the attention of top-tier investors. Firms like Accel and Ribbit invested in Campfire’s $35 million Series A and subsequent $65 million Series B after witnessing the company’s momentum and the magnitude of the opportunity ahead. As the broader ERP market pivots toward intelligent automation, Campfire stands out by offering a fully AI-driven alternative that successfully combines the accounting accuracy required by the profession with the speed and adaptability that modern finance teams expect.

The Origin Story of Campfire

Campfire was founded in 2023 by John Glasgow, a seasoned finance executive with a deep understanding of the industry's pain points. Glasgow spent over 15 years in roles at major institutions including Fidelity, Union Square Advisors, and Adobe before joining the Accel-backed startup Invoice2go. Following the acquisition of Invoice2go by Bill.com for $625 million, Glasgow found himself with both the financial freedom and the conviction to build something new. He set out to create software that could finally eliminate the manual, error-prone drudgery he had spent his entire career battling.

During his tenure leading various finance teams, Glasgow observed firsthand how legacy ERPs like NetSuite and SAP often slowed companies down rather than enabling them. He launched Campfire to build an AI-powered alternative capable of reconciling complex transactions automatically, generating real-time cash flow insights, and answering finance questions through natural-language prompts. The impact was immediate; within nine months of founding, companies such as Advisor360 had replaced NetSuite entirely with Campfire, successfully cutting their month-end close from 15 days down to three.

After attending Y Combinator in the summer of 2023, Glasgow gained further traction with tech-forward customers like Replit and PostHog. That momentum led to a $35 million Series A led by Accel, followed by a $65 million Series B in 2025. Today, Campfire is focused on utilizing this funding to grow its team to meet surging demand and to expand its product capabilities to meet the evolving needs of modern finance teams.

The Campfire Solution and Vision

Campfire is building the first AI-native enterprise resource planning (ERP) platform designed explicitly for modern finance and accounting teams. The platform replaces legacy systems like SAP and NetSuite with an intelligent, unified system that automates routine tasks and delivers real-time financial insights. Campfire’s core products, Core Accounting and Revenue Automation, cover essential tasks like the general ledger, revenue recognition, close management, and reporting. By utilizing this infrastructure, modern finance teams at companies like Decagon, Replit, and CloudZero are able to consolidate systems, close faster, and focus on strategic decision-making instead of manual work.

What truly sets Campfire apart is its commitment to AI. Campfire is the only ERP with a proprietary foundational model trained exclusively on accounting data: the Large Accounting Model (L.A.M.). L.A.M. is the first ERP-native AI of its kind, achieving over 95 percent accuracy on key accounting tasks such as reconciliations, variance analysis, and anomaly detection. Rather than simply layering AI on top of existing workflows, Campfire embeds intelligence directly into its product architecture. This approach turns the ERP from a static system of record into a dynamic system of action.

The company’s growth reflects the broader shift in the $56 billion ERP market toward AI-driven operations. Over the past year, Campfire has expanded globally, added enterprise customers migrating from legacy systems, and raised a total of $100 million in funding. Led by CEO John Glasgow, Campfire’s vision is to redefine how finance works in the AI era, giving teams tools that are faster, more adaptive, and built for scale.

How Campfire Transformed Operations for Flex

The impact of Campfire’s technology is evident in its work with Flex. By implementing Campfire, Flex was able to cut its close time from 10 days to just 3—and achieved this with 67% fewer accounting resources. With Campfire’s AI-powered ERP, Flex automated over 60,000 monthly transactions, unified multi-entity and multi-currency reporting, and gained real-time visibility into their most profitable customers and products. By eliminating manual workflows and surfacing insights instantly, Campfire helped Flex transform its accounting function from an operational burden into a growth engine.

The Team Culture at Campfire

Campfire’s team is described as a group of focused builders who move fast without the chaos. Led by founder John Glasgow’s calm, hands-on leadership style, the team blends accountability, collaboration, and execution. With a culture rooted in the philosophy of “quality with velocity,” the team works in person, ships products quickly, and takes time to celebrate milestones together—whether over Giants games, Friday Fundays, or spontaneous ice cream runs. It is a team that shows up every day to build something that truly matters.

Find out more about Campfire: https://campfire.ai/