DualEntry emerged from stealth Friday (Oct. 3) and said it raised $90 million in a Series A funding round and a total of $100 million over the last 15 months for its artificial intelligence-native enterprise resource planning (ERP) software.
The ERP is built from the ground up with AI and automates 90% of manual tasks for finance teams, the company said in a press release.
Designed to scale with businesses from mid-market to initial public offering, DualEntry’s ERP covers the full general ledger, accounts receivable, accounts payable, live bank connections, audit controls and more, according to the release.
The ERP’s AI features include automated accounting workflows like bank matching, flux commentary, copilot, intercompany allocations, intercompany eliminations, reconciliation, auto-suggestions, anomaly detection and more, the release said.
DualEntry launched 18 months ago, and its platform has already processed $100 billion worth of journal entries with AI automation, per the release.
With the new capital, the company will continue to grow the platform, it said.
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“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,” DualEntry Co-founder and CEO Santiago Nestares said in the release.
The company’s latest funding round was led by Lightspeed Venture Partners and Khosla Ventures, per the release.
Ravi Mhatre, partner and co-founder of Lightspeed Venture Partners, said in the release that DualEntry is positioned to “define the next generation of enterprise resource planning.”
“DualEntry has fundamentally reimagined ERP from the ground up for the AI age,” Mhatre said. “The strong early adoption we’re seeing validates our thesis that the market is ready for this transformation.”
Vinod Khosla, founder of Khosla Ventures, said in the release that legacy ERP providers have dominated the market for 30 years and that DualEntry is building “the first truly AI-native ERP platform that completely changes what it means to do business operations in today’s world.”
The PYMNTS Intelligence and Edenred Pay collaboration “From Back Office to Strategic Powerhouse: AP’s Transformation in 2025” found that automation enables finance teams to drive overall performance by enhancing efficiency and productivity.
The report found that more than one-third of middle-market firms use AI for at least half of their AP processes.
Source: https://www.pymnts.com/