- Companies
- Campfire
Campfire Valuation, Funding & Investors
Campfire is valued at $375M as of October 2025.
Last Campfire valuation
$375M
Series B · Oct 2025
Last Campfire funding round
$65M
Series B · Oct 2025
Cumulative funding Campfire raised
$108M
across 3 funding rounds
Key investors in Campfire
Y Combinator
Foundation Capital
Accel
Ribbit Capital
TwentyTwo VC
Karim Atiyeh
About Campfire
Campfire delivers AI-native ERP software with Core Accounting for multi-entity consolidations and Revenue Automation for invoicing and recognition workflows. The San Francisco-based platform integrates Ember AI for financial queries, bank reconciliations, and API-driven automations, supporting global finance teams with audit trails and real-time reporting.
Founded
2023
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$375M (Oct 2025)
Campfire Valuation
Campfire is currently valued at $375M, based on its Series B in October 2025.
The $65M round was led by Accel and Ribbit Capital, with participation from Naeem Ishaq, Y Combinator, Steve Sidhu, Brad Floering, Scott Buxton and 3 other investors.
Campfire valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2025 | Series B | $375M |
Campfire Funding History
Campfire has raised a total of $108M across 3 funding rounds.
Campfire's first fundraising round was a $4M seed round in February 2024. The most recent completed round was a $65M Series B in October 2025.
Campfire funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2025 | Series B | Accel (lead); Ribbit Capital (lead); Naeem Ishaq; Y Combinator; Steve Sidhu; Brad Floering; Scott Buxton; Karim Atiyeh; QuantumLight; Foundation Capital | $65M | $375M | Campfire is an AI-powered ERP platform designed for modern finance teams, automating manual workflows to enable faster month-end closes, deeper insights, and scalable operations amid surging demand from innovative companies. Founded by John Glasgow in 2023 after his experience at Invoice2go, the San Francisco-based startup participated in Y Combinator's Summer 2023 batch and has rapidly scaled, quadrupling its team from 10 to 40 employees post-Series A. Customers including unicorns like PostHog, Decagon, Replit, CloudZero, TwelveLabs, Tilt, Heidi Health, Klarity, and Advisor360 have migrated from legacy systems to Campfire for financial operations. On October 15, 2025, Campfire announced a $65 million Series B round co-led by Accel and Ribbit Capital, with participation from Foundation Capital, Y Combinator, and angels such as Karim Atiyeh (Ramp CTO), Brad Floering (Snowflake VP Finance), Steve Sidhu (Clay Controller), Scott Buxton (Supabase CFO), and Naeem Ishaq (former Checkr CFO). This followed a $35 million Series A led by Accel in June 2025, bringing total funding to over $100 million (sources vary slightly between $100M and $103.5M) raised in just 12 weeks, reflecting intense market pull for AI-driven finance tools. The round funds accelerated growth to meet demand, following a 10x year-to-date revenue increase and large-scale migrations. Investors highlighted Campfire's potential to redefine ERP for the AI era, addressing legacy system shortcomings. The funding aligns with broader venture interest in AI fintech and ERP, as seen with peers like DualEntry ($90M Series A at $415M valuation) and Rillet ($70M Series B). |
| Jun 2025 | Series A | Accel (lead); Y Combinator; Marten Abrahamsen; Sowmya Ranganathan; Capital 49; Michael Gordon; Foundation Capital; Daniel Kang; Jack Zhang; Alex Estevez | $39M | - | Campfire is a San Francisco-based AI-native ERP software company founded in 2023 by John Glasgow, former exec at Invoice2go, offering a cloud-based platform for general ledger, revenue recognition, invoicing, payments, financial reporting, and GAAP accrual accounting. Its GenAI conversational interface, Ember AI powered by Anthropic's Claude models, enables natural language data interaction, advanced reporting, and task automation. The company participated in Y Combinator's Summer 2023 batch, initially raising $3.5 million in seed funding, and has attracted customers like PostHog, Decagon, Replit, Heidi Health, Klarity, CloudZero, Advisor360, Rhumbix, and Fooji, many migrating from NetSuite. On June 30, 2025, Campfire raised $35 million in a Series A round led by Accel, with participation from Foundation Capital, Y Combinator, Capital 49, and angels including Alex Estevez, Daniel Kang, Jack Zhang, Marten Abrahamsen, Michael Gordon, and Sowmya Ranganathan, accelerating product development in GenAI, team expansion, and global reach. The funding reflects strong market pull amid AI-driven ERP disruption, with Accel citing parallels to investments in CrowdStrike, Slack, and Scale AI. Just months later, in October 2025, Campfire raised a $65 million Series B co-led by Accel and Ribbit Capital, bringing total funding to $103.5 million, supported by the same early backers plus new angels like Karim Atiyeh of Ramp and others; this fueled further AI investments, core module expansion, and hiring, growing the team from 10 to 40 post-Series A and to about 65 by late 2025. |
| Feb 2024 | Seed | Foundation Capital (lead); Y Combinator; TwentyTwo VC | $4M | - | Campfire is a San Francisco-based startup founded in 2023 that provides modern accounting software for startups and midsize companies. The company offers flagship products including Revenue Automation for revenue recognition, invoicing, billing, and KPI reporting, and Core Accounting with features like financial reporting, multi-entity support, treasury management, and native multi-entity and currency consolidation. Positioned as an AI-powered alternative to legacy systems like QuickBooks and ERPs, Campfire targets tech companies scaling operations across geographies and product lines. On February 27, 2024, Campfire raised $3.5 million in a seed funding round led by Foundation Capital, with participation from Y Combinator and Twenty Two Ventures. The funding came as the company exited stealth mode after building since June 2023 and participating in Y Combinator's Summer 2023 batch. Proceeds will support hiring world-class talent and advancing product development, including generative AI integration planned for 2024. Foundation Capital's Angus Davis praised the founders' industry experience, impressive product, and rapid feature development. CEO John Glasgow emphasized automating mundane tasks to empower finance teams for strategic work. Customers like Delphia have migrated to Campfire for faster closes and global operations support. |
Who has invested in Campfire?
18 investors have backed Campfire across its funding rounds, including Y Combinator, Foundation Capital, Accel, Ribbit Capital, TwentyTwo VC and Karim Atiyeh.
Lead investors include Accel, Ribbit Capital and Foundation Capital.
Campfire Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Feb 2024 | ||
| 3 | Lead | Feb 2024 | ||
| 2 | Lead | Jun 2025 | ||
| 1 | Participant | Oct 2025 | ||
| 1 | Participant | Oct 2025 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Lead | Oct 2025 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Oct 2025 | ||
| 1 | Participant | Oct 2025 | ||
| 1 | Participant | Oct 2025 | ||
This data is available for Pro users. Sign up to see all 18 Campfire investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialCampfire Competitors
Campfire competitors include listed companies like Ropeok Technology Group and Miroku Jyoho Service, and private ones like Numeric, DualEntry, Akur8 and Cognism.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $385M | - | ||
| Private | - | - | $415M | - | ||
| Private | - | - | $432M | - | ||
| Private | $71M | - | $450M | 6.3x | ||
| Publicly listed | $23M | ($28M) | $396M | - | ||
| Publicly listed | $315M | $58M | $396M | 1.1x |
Campfire Public Comps
Campfire is still privately-owned, but its public comps include DSC Holdings, Nordtech Group, Cerence, Ropeok Technology Group, Miroku Jyoho Service, Datasection, Baiwang Cloud, Winner Technology, ZipRecruiter and Vrain Solution.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $101M | ($10M) | 3.3x | - | (34.3x) | - | |||
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $252M | $8M | 1.7x | 1.4x | 52.9x | 6.2x | |||
| $23M | ($28M) | 18.6x | - | (15.2x) | - | |||
| $315M | $58M | 1.1x | 1.1x | 6.0x | - | |||
| $216M | $27M | 1.6x | 1.6x | 12.7x | 13.0x | |||
| $109M | $433K | 2.6x | 2.7x | 648.3x | - | |||
| $46M | ($7M) | 9.0x | - | (60.9x) | - | |||
This data is available for Pro users. Sign up to see all Campfire competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Campfire
| When was Campfire founded? | Campfire was founded in 2023. |
| Where is Campfire headquartered? | Campfire is headquartered in San Francisco, CA, United States. |
| Is Campfire publicly listed? | No, Campfire is a private, VC-backed company. |
| What is Campfire's valuation? | Campfire was last valued at $375M in its Series B in October 2025. |
| How much funding has Campfire raised? | Campfire has raised $108M across 3 funding rounds. |
| What was Campfire's last funding round? | Campfire's last funding round was a $65M Series B in October 2025, led by Accel and Ribbit Capital. |
| Who are Campfire's investors? | Campfire's investors include Y Combinator, Foundation Capital, Accel, Naeem Ishaq, Steve Sidhu, Marten Abrahamsen, Sowmya Ranganathan, Capital 49, Ribbit Capital, TwentyTwo VC and 8 others. |
| Which companies are comparable to Campfire? | Companies comparable to Campfire include Numeric, DualEntry, Akur8, Cognism, Ropeok Technology Group and Miroku Jyoho Service. |
See companies similar to Campfire
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




