Doss secures $55M to expand AI-powered inventory management integrated with ERP systems

Enterprise resource planning (ERP) systems are often referred to as a company’s “central brain” because they connect multiple departments — including finance, human resources, and inventory — into a unified database, sharing information across the organisation.

In recent years, a wave of AI-powered ERP startups such as Rillet and Campfire has emerged to replace legacy platforms like NetSuite. These newer companies argue that traditional ERP systems are often complex, costly, and slow to deploy.

However, according to Doss co-founder and CEO Wiley Jones, many newer AI-driven ERP platforms still lack robust inventory management capabilities. Inventory management ensures that records of physical goods remain accurately aligned with financial data in accounting systems.

Doss aims to address this gap by offering an AI-native inventory management layer that integrates directly with existing accounting systems, whether they are traditional ERP platforms or newer AI-based solutions.

On Tuesday, Doss announced that it has raised $55 million in a Series B funding round co-led by Madrona and Premji Invest, with participation from Intuit Ventures. Additional investors in the round include Theory Ventures, General Catalyst, Contrary Capital, and Greyhound Capital.

Founded in 2022, Doss initially focused on building a core accounting product similar to offerings from AI-native ERP startups like Rillet and Campfire. However, the company shifted its strategy last year, opting to collaborate with these platforms rather than compete directly.

Jones explained that while AI-native ERP providers typically handle financial processes such as accounts receivable and accounts payable, many do not offer integrated solutions for procurement and inventory management within accounting workflows.

Doss positions itself as filling that gap by enabling supply chain traceability while working alongside finance and accounting systems. The company’s approach focuses on integrating with existing tools rather than replacing them.

Among its primary partners are Rillet and Campfire, and many customers also use Doss alongside Intuit’s QuickBooks. According to Jones, these partnerships make sense because managing physical goods is not a core focus for most accounting platforms, and building that capability would require significant additional effort.

Doss primarily serves mid-market consumer brands with annual revenues ranging from $20 million to $250 million. One example of its customer base includes Verve Coffee Roasters, a premium speciality coffee company.

While Doss competes with traditional ERP providers, those legacy systems are also evolving in response to AI. NetSuite, for example, has introduced updated AI-powered features, and the company also faces competition from newer agentic procurement startups such as Didero.

Jones acknowledged that convincing companies to adopt two separate systems — one for accounting and another for inventory management — can be challenging. However, he noted that the complexity and difficulty of implementing legacy ERP systems have led many businesses to consider combining newer AI-based tools instead.

He added that competition in the mid-market ERP space is likely to intensify, with success ultimately depending on which companies can redesign their systems to be more adaptable and easier for AI agents to use.