Doss raises $55M for AI inventory management that plugs into ERP

Enterprise assets readying (ERP) systems are often described arsenic a company’s ‘central brain’ due to the fact that the bundle connects antithetic departments—including finance, HR, and inventory—into a azygous database wherever everyone shares the aforesaid information.

In caller years, a caller harvest of AI-powered ERP startups, specified arsenic Rillet and Campfire, has emerged hoping to regenerate bequest offerings similar NetSuite. These companies assertion that accepted ERPs are clunky, expensive, and clip consuming to implement.

However, according to Doss co-founder and CEO Wiley Jones, galore caller AI ERPs deficiency robust inventory management, the process of ensuring that the information connected carnal goods remains synced with the accounting ledger.

Doss claims to lick this by providing an AI-native inventory absorption furniture that integrates with existing accounting systems, whether accepted ERPs oregon ones built by AI-based startups.

On Tuesday, Doss announced that it raised a $55 cardinal Series B co-led by Madrona and Premji Invest, with information from Intuit. Other caller and existing inventors successful the circular see Theory Ventures, General Catalyst, Contrary Capital, and Greyhound Capital.

Doss, founded successful 2023, primitively focused connected a halfway accounting merchandise akin to those offered by AI-native startups similar Rillet and Campfire. But past year, the startup decided alternatively of competing with these companies, “we would alternatively spouse with them, and play a antithetic game,” Jones told TechCrunch.

Jones explained that AI-native ERP companies negociate accounts receivable, accounts payable, and different concern functions, but astir don’t connection procurement and inventory absorption that integrates with accounting workflows.

“We’re gathering a batch of the traceability for the proviso chain, but done the lens of plugging into a concern and accounting partner,” Jones said.

In summation to Rillet and Campfire, the company’s partners see Intuit, shaper of QuickBooks.

“The crushed that they enactment with america is that [physical goods management] is not thing that they’re apt going to physique arsenic a halfway competency without putting successful a batch of vigor and effort,” Jones said.

Doss’s halfway lawsuit basal consists of mid-market user brands, typically generating betwixt $20 cardinal and $250 cardinal successful top-line revenue. One specified lawsuit is Verve Coffee Roasters, a high-end speciality java brand.

The startup sees itself arsenic competing with accepted ERPs. But these players are not sitting perfect successful the property of AI, either. NetSuite, for instance, has precocious introduced its updated AI ERP. It besides competes with different agentic procurement startups specified arsenic Didero.

While Jones admits that selling 2 ERP systems, 1 for accounting and different for inventory absorption similar Doss, “is a hard sell,” helium says that bequest ERPs are truthful hard to instrumentality that galore customers are choosing to person 2 newer, AI-powered systems.

“I deliberation it’s going to beryllium a precise aggravated combat wrong of mid-market that yet volition beryllium determined by whoever rebuilds their architecture to beryllium astir legible and usable for agents,” Jones said.