DualEntry emerges from stealth with $90M in series A funding to disrupt the $500B ERP market with AI

Enterprise resource planning has been dominated for decades by legacy systems with long rollouts, high costs, and architecture dating back to the 1980s. New York–based startup DualEntry thinks it has the answer. The company, which bills itself as the first AI-native ERP, launched from stealth today with $90 million in Series A funding, valuing the new startup at $415 million.
The round was led by Lightspeed Venture Partners and Khosla Ventures, with participation from GV (Google Ventures), Contrary, and Vesey Ventures, bringing DualEntry’s total raised to more than $100 million in the past 15 months.
Founded just over a year ago, DualEntry has already made a dent in the $500 billion ERP market by automating financial workflows and cutting implementation times from months or years to a single day. The platform has processed over $100 billion in journal entries and now handles 250 billion records monthly across 50+ countries.
AI-Native ERP Startup DualEntry Raises $90M to Take on Legacy Giants
Founders With Firsthand Pain
DualEntry was co-founded by Santiago Nestares and Benedict Dohmen, who previously built and exited Benitago Group, an e-commerce aggregator that scaled to $100 million ARR and raised more than $380 million in funding. Their frustration with traditional ERP systems at Benitago inspired the startup.
“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,” Nestares said. “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 Most of our finance team’s time was spent in the outdated ERP, manually entering data.”
That experience led them to build what Nestares calls “the ERP we needed”—a system that goes live in 24 hours using AI-powered mapping, cutting out the painful 18-month implementations and six-figure costs that have long been the industry norm.
Product and Platform
DualEntry’s AI-native ERP suite covers the full general ledger, accounts receivable and payable, FP&A, live bank connections, audit controls, and more. It’s designed for multi-entity, multi-book, multi-currency accounting and scales from mid-market firms to IPO-ready companies without outside consultants.
The centerpiece is NextDay Migration, which the company calls the world’s first ERP migration engine. It pulls every line item, subledger, and attachment from systems like NetSuite, Sage Intacct, SAP, and Microsoft Dynamics in 24 hours. The platform also supports over 13,000 integrations and is compliant with IFRS/GAAP, SOC 2, GDPR, and CCPA standards, with AES 256 encryption baked in.
AI features include OCR for document logging, auto bank matching, anomaly detection, intercompany allocations, and AI-driven report builders. DualEntry says the result is automating 90% of manual tasks and giving finance teams more time to focus on strategy.
Early Customer Wins
The traction is notable for a company that’s just over a year old. Slash, a modern banking platform with more than $100 million in ARR, runs on DualEntry with a finance team of one. “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,” said Victor Cardenas, CEO of Slash.
Trillion Digital, a crypto trading firm that handles hundreds of millions of dollars in daily trades, has also adopted DualEntry. Before switching, it closed its books 15 days after the month-end. Now, it closes daily. “The ability to reconcile and match transactions on a semi-automated basis is the major enhancement we’ve seen after switching to DualEntry,” said CEO Daniel Berz.
Investors see a chance to reset an industry that hasn’t changed in decades. “The ERP market represents a $500 billion opportunity that has remained largely unchanged,” said Ravi Mhatre, partner at Lightspeed. “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 was even more direct: “For over 30 years, legacy ERP providers have dominated the market with outdated, inflexible systems. They cost a lot and are 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.”
Looking Ahead
DualEntry employs about 40 people across New York and San Francisco, supported by more than 30 angel investors and unicorn founders. With the new funding, the startup plans to scale its team, accelerate product development, and expand internationally.
Dohmen, the company’s co-founder, believes the timing is critical. “Seventy-five percent of CPAs are set to retire in the next decade. Companies that didn’t shift from on-premise to cloud systems found themselves left behind. Now, the shift from cloud to AI-native systems is widening the gap even further.”
Armed with fresh capital and heavyweight backers, DualEntry is betting that finance leaders are finally ready to leave legacy ERP behind.
🚀 Want Your Story Featured?
Get in front of thousands of founders, investors, PE firms, tech executives, decision makers, and tech readers by submitting your story to TechStartups.com.
Get Featured