DualEntry secures $90M funding to transform business accounting via AI

DualEntry has raised $90 million in Series A funding, with Lightspeed Venture Partners and Khosla Ventures leading the round. GV, Contrary, and Vesey Ventures also participated, bringing the company's total funding to over $100 million within just over a year. Investors are clearly confident in DualEntry's mission to reinvent business accounting software for the AI era.

The New York-based startup is tackling one of enterprise software's most stubborn sectors: financial management and accounting systems, often categorized under ERP (enterprise resource planning). These systems are crucial for handling transactions, monitoring financial health, and meeting audit requirements. Yet for years, the space has been controlled by outdated providers whose platforms—while feature-rich—are notoriously complex to deploy, costly to operate, and slow to evolve.

DualEntry's leadership team sees AI as a once-in-a-generation chance to completely reimagine this category.

Escaping the Limitations of Outdated Systems

Legacy ERP platforms were designed before cloud computing existed, making them rigid and ill-suited for today's fast-moving businesses. Deployment often drags on for months, requiring massive investments in consulting services just to get basic functionality working.

DualEntry takes a fundamentally different approach. Its platform combines comprehensive financial tools—including general ledger, AR/AP processing, live banking integrations, FP&A, and audit capabilities—with native AI automation. Rather than adding AI as an afterthought, DualEntry built it into the system's core, streamlining tedious tasks like transaction matching, reconciliation, anomaly detection, and intercompany accounting while delivering real-time financial visibility.

"When scaling our previous company to $100 million in revenue, we hit major limitations with entry-level accounting software," recalled Santiago Nestares, DualEntry's Co-Founder and CEO. "Our first ERP implementation failed completely—and even after finally getting it running, the system was cumbersome, sluggish, and inflexible. Our finance team wasted countless hours on manual data entry. With DualEntry, businesses of any size can go live within 24 hours, migrating data seamlessly through AI-powered mapping and seeing immediate value."

Built for Rapid Deployment and Intuitive Use

Beyond automating workflows, DualEntry addresses enterprise accounting's biggest headache: implementation. Its proprietary "NextDay Migration" engine transitions businesses onto its platform within 24 hours—handling everything from line items to attachments when migrating from legacy systems like NetSuite, Sage Intacct, SAP, Microsoft Dynamics, or outdated solutions like QuickBooks Desktop and Peoplesoft.

The company's AI-driven mapping eliminates protracted migration timelines that typically deter system changes. For financial leaders, this accelerated adoption could be revolutionary—enabling modernization without the months-long operational disruptions associated with traditional ERP upgrades.

The platform integrates directly with over 13,000 banks and connects seamlessly with AR, AP, CRM, and HR systems. By consolidating siloed data into a single source of truth, finance teams can access real-time dashboards and predictive insights instead of wrestling with disjointed spreadsheets.

An Industry Ready for Disruption

While the global ERP market is projected to exceed $179 billion by 2029, most incumbent solutions have seen minimal innovation in decades. For countless businesses, these systems remain costly obligations rather than strategic assets.

DualEntry's investors see perfect timing for transformation. "The $500B ERP market hasn't evolved to support today's AI-driven business needs," explained Ravi Mhatre, Lightspeed Venture Partners Co-Founder. "DualEntry reconstructs ERP for the AI era from first principles. Their rapid adoption proves enterprises urgently want this shift."

Vinod Khosla, Founder of Khosla Ventures, adds: "Legacy ERP vendors have profited from locked-in customers burdened by inflexible, expensive systems. An AI-native platform could slash implementation costs, reduce staffing needs, and enable daily financial closes—exactly what DualEntry is building."

Early adopters confirm these benefits. Slash CEO Victor Cardenas noted: "With DualEntry's automation, we're scaling toward $1B revenue while maintaining a one-person finance team."

Trillion Digital CEO Daniel Berz added: "Automated reconciliation transformed our crypto trading operations. Processing thousands of daily transactions became effortless."

The Coming Transformation of Financial Operations

DualEntry's funding signals more than startup growth—it foreshadows finance's AI-powered future. As intelligent systems mature, accountants may shift from manual work to strategic analysis, forecasting, and real-time decision support.

Co-Founder Benedict Dohmen highlights demographic urgency: "With 75% of CPAs retiring soon, modern accounting solutions aren't optional—they're existential."

The cloud revolution transformed enterprise software. Those who resisted faded into irrelevance. DualEntry's team believes the AI-native transition will prove equally decisive.

The implications are profound. Widespread adoption could make financial operations faster, more predictive, and less consultant-dependent—enabling daily closes and elevating CFOs as strategic leaders. Ultimately, AI-native platforms may redefine how modern enterprises manage their financial foundations.