The intersection of artificial intelligence and financial infrastructure is heating up — and investors are moving fast to claim their stake. Campfire, a San Francisco-based fintech startup developing AI-driven accounting and ERP software, has raised a $32 million Series A round led by Accel and Ribbit Capital, with participation from existing and new strategic investors.
The deal underscores a broader trend in enterprise software: the growing demand for AI systems that can both automate routine financial workflows and enhance decision-making with real-time insights. For investors, Campfire’s traction signals that intelligent financial tooling is no longer experimental — it’s essential.
Founded by a team of former Stripe and Plaid engineers, Campfire is reimagining enterprise resource planning from the ground up. Its platform aims to eliminate friction between data, accounting, and operations by layering large language model reasoning over structured financial systems. In practice, that means CFOs can query their data conversationally, generate reports dynamically, and forecast scenarios without spreadsheets or SQL queries.
Accel partner Ethan Choi called the company’s approach “a redefinition of what enterprise software should feel like in the AI age.” Ribbit Capital, long known for its early bets in financial infrastructure, echoed that sentiment — noting that the platform represents the shift from static ledgers to “living systems that learn.”
Behind the scenes, Campfire’s product ambition is pragmatic as well as technical. The company is betting that AI-first accounting will not just improve automation but elevate transparency — an increasingly critical value in the post-Enron, post-crypto world. With compliance pressures mounting, the ability to verify AI-generated financial outputs could become as important as speed or accuracy.
Campfire’s fresh capital will support product expansion, engineering hires, and integrations with third-party enterprise tools. Early adopters reportedly include high-growth SaaS firms and mid-market finance teams seeking to consolidate systems scattered across multiple platforms.
The Series A comes amid a surge of venture interest in AI-powered enterprise back-office solutions. While generative AI has dominated the public imagination, the quieter revolution is unfolding in corporate infrastructure — where automation, auditability, and AI-native design are reshaping the economics of running a business.
For Accel and Ribbit, the Campfire bet is emblematic of a broader thesis: that the next decade of fintech will belong not just to platforms moving money, but to those helping companies understand it — intelligently, instantly, and at scale.
