New York-headquartered ERP startup DualEntry has officially launched from stealth with $90 million in Series A funding. The round was co-led by Lightspeed Venture Partners and Khosla Ventures, with participation from GV (Google Ventures), Contrary, and Vesey Ventures. This brings the company’s total funding to over $100 million in just 18 months since its founding.
The fresh capital will support the growth of DualEntry’s ERP platform, which has already processed $100 billion worth of journal entries through AI automation.
The platform claims to have saved businesses thousands of hours on data migration and onboarding, signing up users that range from small companies with $5 million in revenue to NYSE-listed firms with hundreds of millions in annual recurring revenue.
One of its early customers, fintech firm Slash, runs its entire $100M+ ARR operation with a finance team of just one person using DualEntry. “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.
Modern ERP for finance teams
Founded in 2024 by Benedict Dohmen and Santiago Nestares, DualEntry calls itself the first ERP platform built natively with AI at its core. Santiago Nestares leads DualEntry, which offers a full ERP (Enterprise Resource Planning) accounting suite including general ledger, accounts receivable, accounts payable, live bank connections, FP&A, audit controls, and more.
The company is targeting finance teams in the mid-market segment, aiming to automate up to 90% of manual accounting tasks and free teams to focus more on strategy. It supports multi-entity, multi-currency, and multi-book accounting, designed to scale from mid-market companies up to IPO stage without the need for external IT support or add-ons.
The company provides AI (Accounting Intelligence) features that automate various accounting tasks, including bank matching, financial commentary, intercompany transfers, reconciliations, suggestions, and fraud detection.
With over 13,000 integrations to different systems in banking, accounts receivable, accounts payable, customer relationship management (CRM), and human resources (HR), businesses can establish a centralised source of information.
The company’s NextDay Migration solution allows teams to start using a complete accounting suite within 24 hours. It efficiently transfers all data, including line items, subledgers, and attachments, securely.
DualEntry has helped customers move from various platforms, including older systems like NetSuite, Sage Intacct, SAP, and Microsoft Dynamics, as well as systems being retired, such as Microsoft Great Plains, QuickBooks Desktop, and PeopleSoft. It also supports starter systems, such as QuickBooks and Xero.
“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 customise,” said Nestares.
He concluded, “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.”
