The enterprise resource planning market, a notoriously entrenched space dominated by legacy giants like Oracle and Sage, is facing a new challenger armed with a significant war chest and an AI-native architecture. New York-based startup DualEntry has secured a $90 million Series A funding round to accelerate its mission of ripping out clunky, pre-cloud financial systems and replacing them with a streamlined, intelligent platform.
The round, which values the company at $415 million, was led by heavyweight investors Lightspeed Venture Partners and Khosla Ventures, with participation from Google's GV.
DualEntry’s platform integrates core financial modules like general ledger, accounts payable/receivable, and financial planning with AI-driven automation for tasks such as reconciliation, anomaly detection, and inter-company allocations. Co-founder and CEO Santiago Nestares’s vision was born from his own frustrating experience migrating a previous startup to a legacy ERP system, a process he described as clunky, slow, and impossible to customize. His company’s answer is to make AI a foundational element, not a bolt-on feature, thereby reducing the repetitive manual labor that plagues finance teams.
This rapid onboarding is central to its appeal. By integrating with over 13,000 banks and various third-party HR and CRM systems, DualEntry aims to create a unified source of financial truth in real-time. For investors, this represents a clear opportunity to disrupt a stagnant market. "DualEntry has fundamentally reimagined ERP from the ground up for the AI age," said Ravi Mhatre of Lightspeed Venture Partners, noting that thousands of businesses are trapped by systems not designed for a modern, AI-driven economy. With $90 million in the bank, DualEntry is now positioned to see if its AI-first approach can finally break their lock.
