Ledger//OS
Series A · 2026
Series A · 2026

Close the books
in a day

Ledger//OS is the operating system for the monthly close — reconciliation, accruals and flux analysis that run themselves.

412
finance teams
$3.4M
ARR
$14M
raising
01 / 20
The problem

Mid-market finance teams spend 8 working days a month closing books — in spreadsheets that touch 40 systems by hand.

ERPs record. They don’t reconcile, accrue, or explain variance. That gap is 60% of every controller’s month.

02 / 20
Why now
82%

of mid-market CFOs name close automation their top software priority for 2026 (Gartner CFO Survey, 2025) — budget exists; the category leader doesn’t yet.

03 / 20
Product

Every close task, running on rails

01
Auto-reconciliation
94% of bank and ledger lines match without a human.
02
Living accruals
Contracts and usage data post their own entries.
03
Flux that explains itself
Variance narratives drafted for controller review.
[ SCREEN — close dashboard ]
04 / 20
How it works
STEP 01
Connect
ERP, banks, billing, payroll — 80+ connectors.
→
STEP 02
Map
Close checklist imported and owned in-app.
→
STEP 03
Run
Tasks execute on dependency order, nightly.
→
STEP 04
Review
Humans approve exceptions, not spreadsheets.
05 / 20
Traction
01
412
finance teams live
02
$3.4M
ARR
03
137%
net revenue retention
04
2.1 days
median close (was 7.8)

Land at $680/mo average, expand to $2,900/mo as entities and modules attach.

06 / 20
Growth

ARR, trailing 8 quarters

Q3 ’24Q4Q1 ’25Q2Q3Q4Q1 ’26Q2
07 / 20
Unit economics

SaaS metrics at Series A grade

MetricValueBenchmark
Gross margin84%75%+
Net revenue retention137%110%+
CAC payback11 mo<18 mo
Logo churn (annual)4%<10%
Burn multiple1.3×<2×
08 / 20
Market · Gartner 2025

The $18B office-of-the-CFO software market

0100%
31%
61%
SOM — US mid-market close 8%
SAM — close + reporting suites 31%
TAM — CFO software stack 61%
09 / 20
Competition
Ledger//OS
BlackLine
Checklist tools
ERP modules
Automation depth → ↑ Time-to-value
10 / 20
Moat
01
01

Matching corpus

31M reconciled line-pairs training match models rivals start without.

02
02

Close graph

Dependency maps of 400+ real closes — the workflow IP is the product.

03
03

Auditor trust

Read-only auditor seats in 6 of the Big 10 firms create pull, not push.

11 / 20
Customers

Controllers who closed last month in two days

10 partners
[ logo 01 ]
[ logo 02 ]
[ logo 03 ]
[ logo 04 ]
[ logo 05 ]
[ logo 06 ]
[ logo 07 ]
[ logo 08 ]
[ logo 09 ]
[ logo 10 ]
12 / 20
“
Customer proof

“We went from seven business days to two, and my seniors stopped quitting. The software paid for itself in retention alone.”

Rachel Kim
VP Controller, Fathom Logistics (240 employees)
13 / 20
Business model

From $680 land to $2,900 expand

Core close
+ Entities
+ Recon vol.
+ Reporting
Full ACV
sources uses ending
14 / 20
plan
The plan

Own the close. Then own the ledger.

Every task we automate makes Ledger//OS the system of record the ERP thinks it is.

15 / 20
Go-to-market
Now
Accountant channel
38 firms resell; 44% of new ARR.
H2 2026
NetSuite marketplace
In-ERP distribution to 40k mid-market installs.
2027
Multi-entity + intl.
Consolidation module opens Europe.
2028
Continuous close
Daily books as the default, not the demo.
16 / 20
Team

Controllers who learned to ship

[ photo ]
David Osei
CEO — ex-Stripe accounting platform
[ photo ]
Lena Fischer
CTO — ex-Plaid infrastructure
[ photo ]
Tom Delaney
CPA, Product — ex-EY audit
[ photo ]
Grace Liu
GTM — ex-Ramp mid-market
17 / 20
Financial plan

ARR path with this round

$16M
ARR exiting 2028
25
50
75
100
$2.3M
$3.4M
$5.2M
$7.7M
$11M
$16M
H1 ’26H2 ’26H1 ’27H2 ’27H1 ’28H2 ’28
18 / 20
Use of funds

Deploying $14M over 24 months

0100%
46%
32%
22%
Engineering + ML 46%
GTM + channel 32%
Ops + buffer 22%
19 / 20
Ledger//OS

Books that close themselves.

david@ledgeros.com · ledgeros.com
[ QR ]
20 / 20