New York-based AI startup DualEntry has raised $90 million in a Series A funding round led by Lightspeed Venture Partners and Khosla Ventures, aiming to shake up the entrenched enterprise resource planning (ERP) software market long ruled by heavyweights such as Oracle NetSuite, Sage, and Acumatica.
GV (Google Ventures) also joined the round, valuing the year-old company at $415 million — a sign of investors’ growing appetite for AI-driven enterprise tools that streamline operations and eliminate long-standing inefficiencies in business management systems.
REVOLUTIONIZING ERP MIGRATIONS
DualEntry’s main product is an AI-native ERP platform designed to automate financial workflows and drastically reduce the time and cost of system migrations. Its flagship capability, called “NextDay Migration,” can reportedly transfer a company’s historical financial data from legacy systems to DualEntry’s platform within 24 hours, compared to the months-long implementations typical in traditional ERP setups.
The company’s strategy targets mid-sized businesses — firms that have outgrown entry-level tools like QuickBooks but lack the resources or appetite for expensive, complex ERP overhauls.
“The process of moving to a traditional ERP can be clunky, expensive, and painful,” said CEO Santiago Nestares, who founded DualEntry after struggling with ERP migration in his previous company. “We built a platform that gets businesses live in 24 hours.”
RAPID GROWTH AND INVESTOR CONFIDENCE
Since its launch, DualEntry has attracted a diverse customer base — from startups to publicly listed companies — and plans to use the new funding to expand its 40-person team, accelerate product development, and scale internationally.
Lightspeed partner Ravi Mhatre said DualEntry’s approach replaces armies of consultants with automation:
“It takes an understanding of how complex ERP migration really is, and training AI to act as the data consultants that would normally handle the process. That drastically accelerates everything.”
A $500 BILLION MARKET RIPE FOR CHANGE
Analysts estimate the global ERP market is worth $500 billion, yet innovation has stagnated since the industry’s transition from on-premise to cloud systems. Many legacy providers still depend on third-party consultants charging by the hour, creating a slow and costly adoption cycle.
DualEntry’s model aims to disrupt that structure — not only by cutting costs but by enabling companies to deploy systems in days rather than quarters. With automation and AI at its core, investors say the startup is tapping into both the digital transformation wave and a looming talent shortage in accounting and financial operations.
If successful, DualEntry could redefine how businesses approach ERP — turning a process notorious for frustration and downtime into one measured in hours instead of months.