-1%

est. 2Y upside i

FinTechSeries B

Campfire is the AI-native ERP for mid-size and enterprise companies to close fast and scale faster. Features include a powerful general ledger, invoicing, billing, revenue accounting and reporting, financial statements, AI-powered conversational reporting, and automated accounting workflows such as bank reconciliation.

Rank

#2312

Sector

Fintech

Est. Liquidity

~4Y

Data Quality

Data: Low

Campfire offers high risk and missing financial data.

Last updated: July 3, 2026

Bull (10%)+180%

Campfire's AI-native ERP achieves rapid adoption, reaching $50M ARR by 2028 with a 15x multiple driven by IPO window. Net of 20% dilution, upside 180%.

Base (55%)+30%

Moderate growth to $20M ARR, multiple converges to public comp range near 10x. Dilution erodes upside to 30%.

Bear (35%)-100%

Incumbent pressure and slow sales keep revenue below $5M; exit below $100M triggers full preference stack, wiping out common stock.

Est. time to liquidity~3.5 years

Preference Stack Risk

high

Funding Intensity

2667%

Total funding of $100M on $375M valuation implies 26.7% preference stack, meaning common stock is wiped out if exit is below $100M.

Dilution Risk

high

With $100M raised and no revenue disclosed, a Series C within 2 years is likely, diluting common by approximately 20%.

Secondary Liquidity

none

No secondary trades mentioned; market is illiquid with no immediate liquidity events.

Implementation & Customer Success — 10 roles

Sales — 7 roles

Engineering — 3 roles

Marketing — 3 roles

General — 1 role

People — 1 role

View all 25 open roles at Campfire →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Campfire's data — designed to show you've done your homework.

  • 1

    “How does Campfire's Large Accounting Model (LAM) technically differentiate from traditional ERP incumbents like Oracle NetSuite?”

  • 2

    “What is the current ARR and net dollar retention rate?”

  • 3

    “Given the high incumbent threat, what is the specific go-to-market strategy to reach $100M ARR?”

Community

Valuation Sentiment

Our model estimates -1% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.