DualEntry Raises $90 Million to Reinvent Business Accounting Software with AI

DualEntry has secured $90 million in Series A funding led by Lightspeed Venture Partners and Khosla Ventures, with participation from GV, Contrary, and Vesey Ventures. The raise brings the company’s total funding to more than $100 million in just over a year, signaling strong confidence from investors in its mission to rebuild business accounting software for the age of artificial intelligence.

The New York-based startup is targeting one of the most entrenched areas of enterprise software: financial management and accounting systems, often grouped under the label ERP (enterprise resource planning). These platforms sit at the heart of how companies handle transactions, track financial performance, and comply with audit requirements. But for decades, the space has been dominated by legacy vendors whose systems, while comprehensive, are often difficult to implement, expensive to maintain, and slow to adapt.

DualEntry’s founders believe that AI represents a generational opportunity to redesign this category from the ground up.

Breaking Away from Legacy Constraints

Traditional ERP platforms were built in a pre-cloud era, making them difficult to update and resistant to the speed modern businesses require. Implementations can stretch for months, with companies investing heavily in consultants just to get their systems working.

DualEntry is positioning itself differently. Its platform combines the full suite of financial capabilities—general ledger, accounts receivable, accounts payable, live bank connections, FP&A, and audit tools—with built-in AI automations. These automations cover tasks such as transaction matching, reconciliations, anomaly detection, and intercompany allocations. Instead of layering AI as a feature on top of existing processes, DualEntry has integrated it as a foundation, cutting down on repetitive work and giving finance teams real-time insights.

“When we built our last company to $100 million of annual revenue, we outgrew our starter accounting system and needed a system that matched our scale,” said Santiago Nestares, co-founder and CEO of DualEntry. “The first attempt to implement an ERP failed and, once it was finally up and running, it was clunky, slow, and impossible to customize. Most of our finance team’s time was spent in the outdated ERP manually entering data. 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.”

Technology Designed for Speed and Simplicity

Beyond automation, DualEntry is also tackling one of the most notorious pain points in enterprise accounting: implementation. Its “NextDay Migration” engine promises to move businesses onto its system within 24 hours. That includes migrating line items, subledgers, and attachments from legacy systems like NetSuite, Sage Intacct, SAP, and Microsoft Dynamics, as well as from platforms being phased out such as QuickBooks Desktop and Peoplesoft.

By using AI-powered mapping, the company says it can bypass the lengthy migration timelines that often discourage organizations from switching systems. For CFOs and controllers, this speed of adoption could be transformative, opening the door to modernization without the months-long disruption usually associated with ERP projects.

The platform also integrates with over 13,000 banks and a wide range of systems across AR, AP, CRM, and HR. The goal is to pull data from silos into a single, unified source of truth. Instead of wrestling with spreadsheets or fragmented tools, finance teams can work from real-time dashboards and forecasts.

A Market Ripe for Change

The global ERP market is forecast to reach over $179 billion by 2029, yet the core products from incumbent providers have changed little in decades. For many businesses, these systems remain a necessary burden rather than an empowering tool.

Investors backing DualEntry argue that the time is right for disruption. “The ERP market represents a $500 billion opportunity that has remained largely unchanged for decades, leaving businesses trapped with legacy systems that weren’t designed for today’s AI-driven economy,” said Ravi Mhatre, partner and co-founder of Lightspeed Venture Partners. “DualEntry has fundamentally reimagined ERP from the ground up for the AI age. The strong early adoption we’re seeing validates our thesis that the market is ready for this transformation.”

Vinod Khosla, founder of Khosla Ventures, also sees the shift as inevitable. “For over 30 years legacy ERP providers have dominated the market with outdated, inflexible systems. They cost a lot and substantially more to implement and run. A truly AI-native system would reduce the need for staffing and consultants and produce trial closes every day. Santi and Ben are on their way to doing just that by building the first truly AI-native ERP platform that completely changes what it means to do business operations in today’s world.”

Customers already using DualEntry echo that view. Victor Cardenas, CEO of Slash, explained how automation reshaped his company’s finance operations: “We’ve always prided ourselves on being lean and, now that we work with DualEntry, our goal is to be a $1-billion revenue business—and still have a finance team of just one.”

Daniel Berz, CEO of Trillion Digital, said the impact was equally significant for his crypto trading firm: “The ability to reconcile and match transactions on a semi-automated basis is the major enhancement we’ve seen after switching to DualEntry. It makes it much easier for us to reconcile thousands and thousands of transactions on a daily basis.”

Looking Ahead: The Future of AI in Finance

DualEntry’s raise is more than just a funding milestone—it reflects a broader shift in how finance functions may operate in the future. As AI-native systems become mainstream, the traditional role of finance teams could evolve dramatically. Instead of spending time on manual reconciliations, accountants may focus on strategy, forecasting, and supporting business decisions in real time.

Co-founder Benedict Dohmen underscored this point, noting that demographic shifts are also at play: “Seventy-five percent of CPAs are set to retire in the next decade. This funding comes at a time in the accounting industry where finding new, modern solutions is not a nice-to-have, but a must.”

The last major transition in business software was the move from on-premise systems to the cloud. Companies that resisted the shift were eventually left behind. DualEntry and its backers argue that the next transition—from cloud to AI-native systems—will be just as consequential, if not more.

The implications extend far beyond a single company. If successful, platforms like DualEntry could make finance faster, leaner, and more predictive. Businesses of all sizes may be able to close their books daily, cut reliance on external consultants, and give CFOs a more strategic seat at the table. In short, the AI-native approach could redefine what it means to manage the financial core of a modern enterprise.