Overview

• The Series A was led by Lightspeed Venture Partners and Khosla Ventures with participation from GV, valuing the year-old New York startup at $415 million.
• DualEntry markets a "NextDay Migration" feature that it says can move historical financial data in about 24 hours, while Lightspeed’s blog describes migrations in under 48 hours.
• The company is targeting mid-market firms that have outgrown entry-level tools like QuickBooks yet resist costly, consultant-heavy implementations from incumbents such as NetSuite, Sage and Acumatica.
• DualEntry says it has customers ranging from startups to a publicly listed company, and investor diligence cited migration speed as a primary reason buyers chose the product.
• The new capital will fund hiring beyond its roughly 40-person team, faster product development and international expansion, in a sector investors peg at about $500 billion where automation could curb reliance on third-party implementers.