Enterprise resource planning (ERP) systems are often described as the “central brain” of a company because the software connects different departments—including finance, human resources, and inventory—into a single database where everyone shares the same information.
In recent years, a new crop of AI-powered ERP startups like Rillet and Campfire have emerged hoping to replace legacy offerings like NetSuite. These companies claim that traditional ERPs are clumsy, expensive and time-consuming to implement.
But according to Doss co-founder and CEO Wiley Jones, many new AI ERPs lack robust inventory management, the process of ensuring that physical goods data stays in sync with the ledger.
Doss claims to solve this by providing an AI-native inventory management layer that integrates with existing accounting systems, whether they’re traditional ERPs or those built by AI-powered startups.
On Tuesday, Doss announced it had raised a $55 million Series B round, led by Madrona and Premji Invest, with participation from Intuit Ventures. Other new and existing inventors in the round are Theory Ventures, General Catalyst, Contrary Capital and Greyhound Capital.
Founded in 2022, Doss initially focused on a basic accounting product similar to those offered by startups like Rillet and Campfire. But last year, the startup decided, rather than compete with those companies, “we’d rather partner with them and play a different game,” Jones told TechCrunch.
Jones explained that AI-native ERP companies manage accounts receivable, accounts payable and other financial functions, but most do not offer procurement and inventory management that integrates with accounting workflows.
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“We’re building a lot of the traceability for the supply chain, but through the lens of connecting to a financial and accounting partner,” Jones said.
The company’s main partners include Rillet and Campfire. Many customers also use Doss in conjunction with Intuit’s QuickBooks.
“The reason they work with us is this [physical goods management] it’s not something they’re likely to build as a core competency without putting in a lot of energy and effort,” Jones said.
Doss’ core customer base consists of mid-market consumer brands that typically generate between $20 million and $250 million in top line revenue. One such client is Verve Coffee Roasters, a premium specialty coffee brand.
The startup sees itself competing with traditional ERPs. But even these players do not sit perfectly in the age of artificial intelligence. NetSuite, for example, recently introduced its updated AI ERP. It also competes with other procurement startups such as Didero.
While Jones admits that selling two ERP systems, one for accounting and one for inventory management like Doss, “is a tough sell,” he says legacy ERPs are so difficult to implement that many customers opt to have two newer AI-powered systems.
“I think it’s going to be a very tight race within the mid-market that will ultimately be determined by whoever re-engineers their architecture to be more readable and user-friendly for agents,” Jones said.
Editor’s note: The story corrected the list of Doss’ associates.
