VC3 min read
Tessera Labs Raises $60 Million Led by Andreessen Horowitz for AI-Native ERP Modernization
Tags AI · Enterprise
The AI Insider·
Tessera Labs raised $60 million in an oversubscribed round led by Andreessen Horowitz, with Foundation Capital, Myriad Venture Partners, and Osage University Partners participating. The capital will accelerate its AI-native platform for enterprise ERP transformation, a market where IBM estimates 60-80% of enterprise dev budgets go to maintenance and modernization. a16z partner Seema Amble joined the board.
Technical significance
ERP modernization is one of the largest unsolved problems in enterprise software, with trillions of dollars locked in legacy SAP and Oracle systems. An AI-native approach to ERP transformation — rather than traditional consulting-led migration — could dramatically reduce cost and risk.