DualEntry Gets $90 Million to Help Businesses with AI

In this article, you’ll discover:

• How one startup just raised $90 million from top investors like Google.
• Why old business software is such a major pain for growing companies.
• The new AI tool that can switch your entire finance system in just 24 hours.
• How a $100M+ company is running its money team with just one person.

Have you ever been stuck using slow, clunky software for your business? It’s a common headache. A new company called DualEntry just raised a massive $90 million to fix that exact problem, especially for the tricky world of finance and accounting. They are using Artificial Intelligence to make things simpler and faster.

The funding round was led by some very big names in the investment world, including Lightspeed Venture Partners, Khosla Ventures, and GV, which is Google’s venture capital arm. This shows that some of the smartest people in tech believe DualEntry is onto something huge. In just 18 months, the company has already raised over $100 million.

Why Old Software Is Such a Pain

If you’ve ever run a business, you know that as you grow, the simple accounting software you started with just can’t keep up. The next step is usually a big, expensive system called an ERP. But these systems are often old, slow, and a nightmare to set up.

Santiago Nestares, the co-founder and CEO of DualEntry, knows this feeling all too well. He said, “When we built our last company to $100 million of annual revenue, we outgrew our starter accounting system…The first attempt to implement an ERP failed and, once it was finally up and running, it was clunky, slow, and impossible to customize.”

This is the problem DualEntry was built to solve. They want to get rid of the days where finance teams spend all their time manually entering data into outdated software.

A Smarter Way with AI

So, what makes DualEntry different? It was built from the very beginning with Artificial Intelligence at its core. Think of it as giving your finance team a super-smart assistant.

This AI, which they call “Accounting Intelligence,” helps with all the boring, repetitive tasks. It can automatically match bank transactions, help with reports, and even spot unusual activity that might be a mistake. The goal is to let finance teams focus on strategy instead of spreadsheets.

One of their most amazing features is the “NextDay Migration.” Instead of taking months to switch over to a new system, DualEntry says it can get a company fully set up in just 24 hours. They have an engine that moves all the old financial data over quickly and securely.

Real Companies, Real Results

This isn’t just a cool idea, it’s already working for thousands of businesses.

Take Slash, a modern banking platform with over $100 million in annual revenue. With DualEntry, their entire finance team consists of just one person. Their CEO, Victor Cardenas, said, “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.”

Another example is Trillion Digital, a crypto trading firm. Before, it took them 15 days to close their books each month. Now, with DualEntry, they can do it every single day. This is a huge advantage in a fast-moving market.

What’s Next for DualEntry?

With $90 million in new funding, DualEntry is ready to grow and help even more businesses. The timing is critical. As co-founder Benedict Dohmen points out, a huge number of accountants are expected to retire soon, which means companies must find modern solutions.

The shift to AI is becoming a necessity. “In the past, companies that didn’t shift from on-premise to cloud systems found themselves left behind,” Dohmen said. “Now, the possibility to transition from cloud systems to AI-powered systems is widening the gap even further.”

DualEntry isn’t just making a better product, it’s changing how businesses handle their finances from the ground up. And with some of the world’s top investors backing them, they are well on their way to fixing a problem that has frustrated business owners for decades.