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DualEntry raises a $90 million Series A from Lightspeed Venture Partners, Khosla Ventures, and GV (Google Ventures)
Friday, October 10, 2025
DualEntry emerges from stealth to modernize legacy ERP software with AI
NEW YORK, Oct. 2, 2025 /PRNewswire/ -- DualEntry, the AI-native ERP, launched from stealth today to tackle the legacy ERP market with the first platform built from the ground up with AI. The company also announced it has raised a $90 million Series A led by Lightspeed Venture Partners and Khosla Ventures with participation from GV (Google Ventures), Contrary, and Vesey Ventures. This brings total funding raised to over $100 million in the last 15 months, just 18 months after launch.
The funds will drive growth for DualEntry's platform, which has already processed $100 billion worth of journal entries with AI automation, saved businesses thousands of hours on implementation and data migration, and signed thousands of global users - ranging from companies with $5 million in revenue to NYSE-listed businesses with hundreds of millions in ARR.
-- Slash, a $100 million+ ARR modern banking platform, runs on DualEntry
with a finance team of one. DualEntry's automations allow its team to
operate with a single controller. "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," says Victor Cardenas, CEO of Slash.
-- Trillion Digital, a crypto-native trading firm that trades up to
hundreds of millions of dollars a day and operates with multiple
entities, books, and currencies, switched to DualEntry and went from
closing their books 15 days after month end to closing on a daily basis.
"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," says Daniel Berz, CEO of Trillion
Digital.
DualEntry's complete ERP accounting suite covers the full general ledger along with accounts receivable, accounts payable, live bank connections, audit controls, FP&A, and more. DualEntry is built for multi-entity, multi-book, multi-currency accounting, and is designed to scale with businesses from mid-market to IPO without needing add-ons or external IT support calls.
"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. The first attempt to implement an ERP failed and, once it was finally up and running, it was clunky, slow, and impossible to customize," said Santiago Nestares, co-founder and CEO of DualEntry. "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."
"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. We believe DualEntry is positioned to define the next generation of enterprise resource planning, and we're excited to support their growth as they capture this massive market opportunity."
"For over 30 years legacy ERP providers have dominated the market with outdated, inflexible systems," said Vinod Khosla, founder of Khosla Ventures. "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."
DualEntry's AI (Accounting Intelligence) features include automated accounting workflows like bank matching, flux commentary, copilot, intercompany allocations, intercompany eliminations, reconciliation, auto-suggestions, anomaly detection, and more - all developed with the company's in-house accountants to cut out repetitive manual work and give finance teams their time back. Over 13,000 integrations to best-of-breed systems across banking, AR, AP, CRM, HRIS, and more let businesses build a fully synced source of truth - pulling workflows out of spreadsheets and silos, and giving CFOs fast insights through real-time dashboards.
The company's NextDay Migration solution - powered by the world's first ERP migration engine - eliminates agonizing implementation odysseys and gets teams live with its full accounting suite in 24 hours, migrating every line item, subledger, and attachment seamlessly and securely. DualEntry has successfully migrated customers from various platforms - ranging from legacy systems (NetSuite, Sage Intacct, SAP, and Microsoft Dynamics) to systems that are being sunset (Microsoft Great Plains, QuickBooks Desktop, and Peoplesoft) to starter systems (QuickBooks and Xero).
"Seventy-five percent of CPAs are set to retire in the next decade," said Benedict Dohmen, co-founder of DualEntry. "This funding comes at a time in the accounting industry where finding new, modern solutions is not a nice-to-have, but a must. In the past, companies that didn't shift from on-premise to cloud systems found themselves left behind. Now, the possibility to transition from cloud systems to AI-powered systems is widening the gap even further. With the backing of our exceptional partners Lightspeed, Khosla Ventures and GV - who have funded category-definers like OpenAI, Anthropic, Ramp, Stripe, and Affirm - we're accelerating our mission to rewrite the ERP playbook."
About DualEntry
Founded in 2024, DualEntry is the AI-native ERP software for the mid market. Modern Finance teams close the books faster by automating 90% of manual tasks with DualEntry AI, freeing up their time to focus on strategy. To learn more, visit dualentry.com
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SOURCE DualEntry
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