Doss Raises $55 Million in Series B Funding to Scale AI-Powered Inventory Management
Doss, an AI-powered inventory management startup, has raised $55 million in a Series B funding round co-led by Madrona and Premji Invest, with participation from Intuit Ventures, Theory Ventures, General Catalyst, Contrary Capital, and Greyhound Capital. Founded in 2022, the company is building an inventory management platform that integrates with existing enterprise resource planning (ERP) and accounting systems.
ERP software traditionally connects key business functions, including finance, human resources, procurement, and inventory, through a centralized database. However, many legacy platforms are often criticized for their high costs, complex implementation processes, and limited flexibility. A growing number of AI-native ERP startups, including Rillet and Campfire, are attempting to address these challenges with modern financial software.
According to Doss co-founder and CEO Wiley Jones, many emerging AI-powered ERP platforms still lack sophisticated inventory management capabilities. Keeping physical inventory records aligned with accounting data remains a challenge for businesses, particularly those managing complex supply chains and large volumes of goods.
Doss aims to address this gap by providing an AI-native inventory management layer that connects procurement, inventory tracking, and supply chain operations with accounting workflows. Rather than replacing existing accounting platforms, the company integrates with both traditional ERPs and newer AI-driven financial systems.
The company initially focused on developing a core accounting product similar to those offered by Rillet and Campfire. However, it later shifted its strategy toward partnerships, choosing to complement these platforms rather than compete directly with them. Doss now works with AI-native ERP providers, including Rillet and Campfire, while many customers also use its software alongside Intuit’s QuickBooks.
Jones explained that accounting-focused ERP platforms typically handle functions such as accounts receivable and accounts payable but often lack the specialized procurement and inventory tools required by businesses dealing with physical products. Doss aims to provide greater supply chain traceability while connecting inventory operations directly to financial systems.
The startup primarily serves mid-market consumer brands generating between $20 million and $250 million in annual revenue. One of its customers is Verve Coffee Roasters, a specialty coffee brand that relies on inventory visibility and supply chain coordination to manage its operations.
Despite its partnership-driven approach, Doss also competes with established ERP providers such as NetSuite, which has been expanding its AI capabilities. The company faces competition from newer AI-powered procurement startups, including Didero, as businesses increasingly look for ways to automate purchasing and supply chain processes.
Selling separate platforms for accounting and inventory management can create additional complexity for customers. However, Jones believes many businesses are willing to adopt multiple modern systems rather than implement a single legacy ERP that may be expensive and difficult to deploy.
Looking ahead, Doss expects competition in the mid-market ERP sector to intensify as companies redesign their software around AI agents. The company believes that platforms capable of making business data more accessible, structured, and usable by AI agents will be better positioned to automate complex operational workflows.
With its latest $55 million funding round, Doss is positioned to expand its AI-powered inventory management capabilities and deepen integrations with modern accounting platforms. Its strategy reflects a broader shift in enterprise software, where specialized AI-native tools can work together to deliver capabilities that traditional all-in-one ERP systems have struggled to provide.