Campfire Secures $3.5M in Seed Funding to Modernize Accounting Software for Startups and Midsize Companies

SAN FRANCISCO, Feb. 27, 2024 /PRNewswire/ -- Campfire, the Y Combinator-backed startup modernizing accounting software for startups and midsize companies, today announced it closed a $3.5 million seed funding round led by Foundation Capital and joined by Y Combinator and Twenty Two Ventures. Campfire will use the funding to attract world-class talent and further support its flagship products, which provide a modern general ledger and automate revenue processes.

Powering the accounting for modern teams
While legacy accounting solutions designed for sole proprietors or huge conglomerates across industries, Campfire is focused on serving startups and mid-size technology companies. These companies require user-friendly software, modern APIs for building custom workflows and integrations, and features that bridge the gap between basic functionality and enterprise-level complexity. Campfire is both simple and scalable, offering two distinct yet synergistic products: Revenue Automation and Core Accounting.

Campfire's Revenue Automation software is a comprehensive suite of tools for revenue recognition, invoicing, billing, and insightful KPI reporting. Its Core Accounting product, which was publicly announced today after an extended private beta with customers of various sizes, includes core accounting features such as financial reporting, a general ledger that supports multi-entity and currency consolidation, and treasury management, all complemented by seamless integrations and scalable to millions of transactions. Together, these products form a powerful combination that makes accounting and financial reporting more efficient, intuitive, and impactful.

"Our mission is to give accounting and finance teams superpowers to do their best work by automating mundane tasks so they can focus on high-value, strategic work," said John Glasgow, Chief Executive Officer and Co-founder of Campfire.

Angus Davis, General Partner at Foundation Capital that led the funding round said, "I invested in Campfire because the founders have the deep industry experience to pull it off, the product is very impressive, and the team is shipping new features at an unbelievable pace. Campfire is the ERP I wish I had when my last company outgrew QuickBooks."

Campfire is headquartered in San Francisco, and currently hiring. For more information, visit www.meetcampfire.com.

About Campfire
Founded in 2023, Campfire is a San Francisco-based company specializing in modern accounting software for startups and midsize companies. Leveraging its experience from the Y Combinator startup accelerator, Campfire is dedicated to transforming the traditional accounting software landscape with its user-friendly, AI-powered platform. Positioned as a modern alternative to legacy accounting software, Campfire focuses on providing intuitive, customizable, and efficient financial management software. For more information, please visit www.meetcampfire.com. The company can be reached at [email protected].

SOURCE Campfire