Enterprise resource planning (ERP) systems are widely recognized as a company's 'central brain,' seamlessly integrating diverse departments—from finance and human resources to inventory management—into a unified database. This centralized approach ensures consistent information sharing across the organization.
In recent years, a new wave of AI-powered ERP startups, including notable players like Rillet and Campfire, has emerged. These innovators aim to disrupt and replace established legacy solutions such as NetSuite, asserting that traditional ERPs are often cumbersome, costly, and excessively time-consuming to deploy.
However, Wiley Jones, co-founder and CEO of Doss, points out a critical limitation among many of these nascent AI ERPs: a lack of robust inventory management capabilities. He defines this as the essential process of meticulously synchronizing physical goods data with the corresponding accounting ledger.
Doss positions itself as the solution to this challenge, offering an AI-native inventory management layer designed for seamless integration. This layer can connect with a wide array of existing accounting systems, encompassing both traditional ERP platforms and those developed by other AI-based startups.
This past Tuesday, Doss announced a significant milestone, securing $55 million in Series B funding. The round was co-led by Madrona and Premji Invest, with additional participation from Intuit. Other key investors contributing to this round include Theory Ventures, General Catalyst, Contrary Capital, and Greyhound Capital.
Founded in 2023, Doss initially concentrated on developing a core accounting product, similar to the offerings from AI-native startups like Rillet and Campfire. However, as Jones disclosed to TechCrunch, the company made a strategic pivot last year, deciding that "we would rather partner with them, and play a different game," instead of engaging in direct competition.
Jones elaborated that while many AI-native ERP companies proficiently manage accounts receivable, accounts payable, and other core finance functions, the majority do not provide integrated procurement and inventory management solutions that align with existing accounting workflows.
“We’re building a lot of the traceability for the supply chain, but through the lens of plugging into a finance and accounting partner,” Jones stated, highlighting Doss's specialized focus.
Beyond Rillet and Campfire, Doss's strategic partners include Intuit, the company behind QuickBooks, further solidifying its ecosystem.
Jones explained the rationale behind these partnerships: “The reason that they work with us is that [physical goods management] is not something that they’re likely going to build as a core competency without putting in a lot of energy and effort.”
Doss primarily targets mid-market consumer brands, typically those generating annual revenues between $20 million and $250 million. A notable customer in its portfolio is Verve Coffee Roasters, a distinguished high-end specialty coffee brand.
While Doss perceives itself as a competitor to traditional ERP systems, these established players are not static in the evolving AI landscape. NetSuite, for example, has recently unveiled its own updated AI ERP. Doss also faces competition from other agentic procurement startups, such as Didero.
Acknowledging that selling two separate ERP systems—one for accounting and another for inventory management like Doss—“is a hard sell,” Jones contends that the inherent difficulties in implementing legacy ERPs are leading many customers to opt for two newer, AI-powered systems instead.
“I think it’s going to be a very intense fight inside of mid-market that ultimately will be determined by whoever rebuilds their architecture to be most legible and usable for agents,” Jones concluded, forecasting a competitive future for the sector.
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