Latest news with #Accel
Yahoo
4 hours ago
- Business
- Yahoo
Lovable on track to raise $150M at $2B valuation
Lovable, one of the darlings of the vibe coding world and one of Europe's fastest-growing AI startups, is working on raising a fresh round of over $150 million at a near $2 billion valuation, the Financial Times reports. The raise and giant step-up in valuation comes just months after the Swedish startup raised a $15 million round led by Creandum in February. The company described that round to TechCrunch as 'pre-series A,' but with numbers this large, it's safe to say that Lovable has jumped from seed rounds to priced growth rounds, whatever the serial alphabetic label should be. Accel is said to be leading this new raise, with Creandum and others like 20VC participating. While the company is technically two years old, founded in 2023, it released its web-app building product in late November. In May, Lovable CEO Anton Osika tweeted that Lovable hit $50 million in ARR in six months. Lovable, like competitors Replit and Bolt, builds entire web apps from an initial text prompt, including a user interface/front end (often via the popular UX coding tool React) and connected to a database like Supabase. Some users say it's affordable, starting at $25 a month for 250 'credits.' One Reddit user documented an app with 29,000+ lines of code and dozens of functions built for $250. On Monday, Lovable announced that it was releasing a beta version of an AI agent that could automate more tasks like editing code after reading project files or debugging. Lovable will charge on a usage-based model for this: the more the agent is asked to do, the more credits it will charge. While this may increase fees for users if they turn over their app management to the agent, this pricing model is shaping up to be the default business model for agents. This is because the AI startups themselves have to pay variable fees to model providers like OpenAI or Anthropic. All this to say, such business model strategies would make investors happy. Accel, 20VC and Lovable did not respond to a request for comment.
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Business Standard
8 hours ago
- Business
- Business Standard
Beauty unicorn Good Glamm Group struggles to pay staff amid cash crunch
The Mumbai-based company has delayed employee salaries while seeking new funding, as three board directors from major VCs recently departed Bengaluru Listen to This Article Beauty unicorn Good Glamm Group is struggling to pay staff salaries amid a severe cash crunch that had prompted three board directors to exit, according to people familiar with the company's finances. 'There is no money in the bank and the company is not able to pay salaries to the employees,' said one person with direct knowledge of the situation. The firm is actively scouting for investors to raise around ₹200 crore to ₹250 crore to stay afloat. The financial crisis had led to the departure of three high-profile board members early this year. Anand Daniel, partner at Accel, Vishal
Business Standard
a day ago
- Business
- Business Standard
Sahi Launches Web Terminal to Power High-Performance Trading for Desktop Traders
NewsVoir Bengaluru (Karnataka) [India], July 1: Sahi, the next-generation trading platform, announced today the launch of its Web trading terminal designed to cater to India's rapidly growing community of high-frequency and professional retail traders seeking high-performance trading. Backed by Accel and Elevation Capital, Sahi is built for traders who demand performance, precision, and a seamless experience across devices. Founded by Dale Vaz (former CTO, Swiggy) and Manish Jain (former SVP, Kotak Securities), the platform has been reimagined to deliver a powerful multi-monitor setup that brings institutional-grade features to the hands of serious retail participants. The interface is designed entirely in-house, including proprietary charts built from the ground up to match the speed of the market and the trader's pace. Unlike platforms that rely on third-party integrations, Sahi's in-house charting engine reflects its tech-first DNA--engineered for precision, low latency, and seamless execution under high-intensity trading conditions. India's retail investor base has surged in recent years, with over 150 million demat accounts and a growing appetite for intraday and high-frequency trading. With more traders demanding institutional-grade tools and personalised setups, Sahi's web terminal for desktop and laptop traders addresses this market shift head-on. A key differentiator lies in its deep personalisation--traders can design their workspaces, configure widgets, and run the interface seamlessly across multiple monitors and devices. This level of customisation empowers users to trade the way they think, not the way platforms prescribe. The platform is designed to support high-intensity intraday strategies for Options and Stock trading, and includes advanced tools such as auto-trailing stop-loss, stop-loss/take-profit orders, and automatic large order slicing, ensuring risk is managed intelligently without compromising execution speed. Features such as real-time scanners, watchlists, and open interest analysis provide a rich layer of insight. At the same time, built-in keyboard shortcuts enable users to enter and exit positions with unparalleled speed and precision. According to Dale Vaz, Co-founder and CEO of Sahi, "Retail traders today expect performance-grade tools without the complexity or cost of institutional platforms. Our Web Terminal is a response to that need; it combines intelligence, customizability, and speed into a workstation experience built ground-up for modern Indian traders." This launch reflects Sahi's long-term vision of democratising advanced trading tools and making them accessible to every serious trader in India. The platform is live, and users can access the Sahi Web terminal at TVC Link -
The Wire
a day ago
- Business
- The Wire
Sahi Launches Web Terminal to Power High-Performance Trading for Desktop Traders
The new multi-monitor workstation offers personalised trading with multiple layouts and trade defaults, one-click chart trading, trade automation and built-in scanners for the modern, active trader Bengaluru, Karnataka, India (NewsVoir) Sahi, the next-generation trading platform, announced today the launch of its Web trading terminal designed to cater to India's rapidly growing community of high-frequency and professional retail traders seeking high-performance trading. Backed by Accel and Elevation Capital, Sahi is built for traders who demand performance, precision, and a seamless experience across devices. Founded by Dale Vaz (former CTO, Swiggy) and Manish Jain (former SVP, Kotak Securities), the platform has been reimagined to deliver a powerful multi-monitor setup that brings institutional-grade features to the hands of serious retail participants. The interface is designed entirely in-house, including proprietary charts built from the ground up to match the speed of the market and the trader's pace. Unlike platforms that rely on third-party integrations, Sahi's in-house charting engine reflects its tech-first DNA—engineered for precision, low latency, and seamless execution under high-intensity trading conditions. India's retail investor base has surged in recent years, with over 150 million demat accounts and a growing appetite for intraday and high-frequency trading. With more traders demanding institutional-grade tools and personalised setups, Sahi's web terminal for desktop and laptop traders addresses this market shift head-on. A key differentiator lies in its deep personalisation—traders can design their workspaces, configure widgets, and run the interface seamlessly across multiple monitors and devices. This level of customisation empowers users to trade the way they think, not the way platforms prescribe. The platform is designed to support high-intensity intraday strategies for Options and Stock trading, and includes advanced tools such as auto-trailing stop-loss, stop-loss/take-profit orders, and automatic large order slicing, ensuring risk is managed intelligently without compromising execution speed. Features such as real-time scanners, watchlists, and open interest analysis provide a rich layer of insight. At the same time, built-in keyboard shortcuts enable users to enter and exit positions with unparalleled speed and precision. According to Dale Vaz, Co-founder and CEO of Sahi, 'Retail traders today expect performance-grade tools without the complexity or cost of institutional platforms. Our Web Terminal is a response to that need; it combines intelligence, customizability, and speed into a workstation experience built ground-up for modern Indian traders.' This launch reflects Sahi's long-term vision of democratising advanced trading tools and making them accessible to every serious trader in India. The platform is live, and users can access the Sahi Web terminal at TVC Link - (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.).
Associated Press
2 days ago
- Business
- Associated Press
Campfire Raises $35 Million Series A Led by Accel to Build the Next-Generation AI-Driven ERP
As AI reshapes enterprise software, Campfire's rapid growth signals a new era for finance and accounting teams. SAN FRANCISCO, June 30, 2025 /PRNewswire/ -- Campfire, the rapidly emerging leader in AI-native enterprise resource planning (ERP) software, today announced it has raised $35 million in Series A funding led by Accel, with participation from existing and new investors including Foundation Capital, Y Combinator, Capital 49, and angel investors including, Marten Abrahamsen, CFO at Vercel, Dan Kang, CFO at Mercury, Alex Estevez, Former CFO at Atlassian, Michael Gordon, Former CFO at MongoDB, Sowmya Ranganathan, Former Controller at OpenAI, and Jack Zhang, Co-Founder & CEO at AirWallex. The round accelerates the company's mission to redefine finance for the AI era—fueling deeper product development, major investments in GenAI, and expanded reach to serve more ambitious companies globally. ERP is one of the largest and most established markets in enterprise software, with a market capitalization of over $1 trillion across legacy incumbents such as Oracle, SAP, and Intuit. These platforms, built decades ago, have struggled to keep pace with the demands of today's fast-moving, modern businesses. Campfire is seizing this moment of massive disruption, building a fully modern, AI-first ERP platform that is already winning over customers from established players like NetSuite and SAP. 'I founded Campfire because, as a customer, I lived through the pain of a legacy ERP that was holding us back. Our team has rebuilt ERP from the ground up, leveraging the latest in AI and modern architecture so finance teams can accelerate their monthly close, unlock deeper financial insights, and make smarter decisions,' said John Glasgow, Campfire CEO and Founder. 'Accel was a great partner and investor from my time at Invoice2go, where I was an exec and led the company's $625M sale to I'm thrilled to be partnered with the Accel team again. Their conviction and partnership provide credibility and confidence for the next stage of growth.' The company's GenAI conversational interface, Ember AI, powered by Anthropic's Claude models, enables finance teams to interact with their data using natural language, run advanced reporting, and automate manual tasks—delivering real productivity gains and financial insights. 'At Accel, we have a long history of backing transformative software companies—including CrowdStrike, which redefined cybersecurity; Slack, which revolutionized workplace productivity; and Scale AI, which set the standard for AI infrastructure. We believe Campfire has the potential to reshape the ERP market similarly,' said John Locke, Partner at Accel and Campfire Board Director. 'We have worked with John Glasgow previously, and believe his deep experience in finance gives him unique insight into the challenges CFOs face and how AI can elevate finance teams. Campfire's rapid product execution, customer traction, and vision for an agentic future make them uniquely poised to lead this next wave of innovation.' Campfire's platform has already displaced legacy products at a number of enterprises, with customers such as Replit, Trust & Will, Coder, and others praising its ease of use, automation features, and ability to support complex, global organizations. 'I've implemented Campfire entirely in-house, not once, but twice. Both times, we closed our books just three weeks after signing,' said Brian Ehrlich, Finance Director at Flex. 'At Flex, Campfire saved us over $300K in implementation costs, avoided hiring 1–2 full-time staff, and provided us with a scalable system that supports us through 1,000+ employee growth. With Campfire, we went from incomplete reconciliations to full GAAP accrual accounting and significantly faster close. It's a modern, AI-powered platform that will grow with us well into the future—automating what used to take teams of people, with no consultants required.' 'As a lean team with complex, high-volume needs, NetSuite created more friction than momentum as we continued to scale,' said Zach Doyle, Accounting Manager at Advisor360. 'Campfire was the modern ERP that could move at our pace. Campfire has helped us streamline financial processes, increase velocity, and build the foundation to scale with the business, while helping us stay lean as we grow.' 'As a fast-growing AI software development company, our accounting team manages complex customer contracts,' said Daniel deCoen, Controller at Coder. 'Campfire is the AI-native ERP flexible enough to keep up, automating complex revenue logic and providing us with clarity as we scale.' 'At Trust & Will, our rapid growth introduced complex financial challenges that required a modern, flexible infrastructure. As an AI-native ERP, Campfire uniquely matched the speed, complexity, and ambition of our business,' said Ron Wangerin, CFO at Trust & Will. 'By automating manual processes and delivering deeper financial insight, Campfire has given our team the clarity and time to focus on strategic work and partner with us as we scale.' The ERP market is at an inflection point, with a 'great unbundling' opportunity emerging as AI and cloud-native architectures reshape the landscape. Campfire's San Francisco-based team has rapidly developed a category-defining AI-native ERP designed to support companies from startup through IPO. This funding will further accelerate the company's mission. As part of this next chapter, Campfire is launching Finance Forward, the first summit dedicated to empowering finance and accounting teams with the tools, knowledge, and community to thrive in the AI era. Sign up here to learn more. About Campfire Campfire is the AI-first ERP powering modern finance and accounting teams. A full replacement to legacy ERPs, it offers a general ledger, revenue automation, close management, and so much more—all on one unified platform. Campfire empowers finance teams with powerful, intuitive software that saves time on the monthly close, unlocks deeper financial insights, and scales with you. The company is headquartered in San Francisco and is backed by Accel, Foundation Capital, Y Combinator, Capital49 and notable finance execs from public and private companies. For more, visit About Accel Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Bumble, CrowdStrike, Fiverr, Flipkart, Freshworks, Qualtrics, Scale, Segment, Slack, Spotify, Squarespace, Tenable, and UiPath are among the companies Accel has backed over the past 40+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit or Campfire Media Contact [email protected] View original content to download multimedia: SOURCE Campfire Software, Inc.
