Turnstile raises $29M in funding. Turnstile, a San Francisco, CA-based provider of a quote-to-cash platform for sales-led startups, raised $29M in funding. Backers included First Round, OMERS Ventures, Illuminate Financial, and angel investors. The company intends to use the funds to accelerate its product roadmap and go-to-market expansion. Led by CEO Jordan Zamir, Turnstile automates quote-to-cash for sales-led companies creating a structured system of record for commercial terms. It manages the full revenue lifecycle in one integrated quote-to-cash platform with four core modules: * Quoting: Drag-and-drop quote building that combines the ease of a Google Doc with structured data, so flexible deals still automate downstream. Teams can quote from standardized plans or create fully custom quotes, with all deals living in the same system. * Subscription Management: Real-time visibility into subscriptions, amendments, and renewals, so every change stays in sync for invoicing and reporting. * Billing: Automatically generates accurate invoices from accepted quotes and changes, supporting flexible schedules and usage-based billing without manual work. * Financial Reporting: Centralizes subscription and billing data to automate revenue recognition and deliver real-time metrics like ARR, bookings, and AR aging with drill-down visibility. Early customers include Crafting, Reform, Brellium, Trayd, and atronous.ai.

Turnstile has launched with $29 million in Series A funding from First Round, OMERS Ventures and Illuminate Financial to provide quote-to-cash automation for sales-led startups. The platform addresses the complexity of modern SaaS billing, which has evolved beyond simple per-seat models to include usage tiers, bundles and negotiated terms. The self-service platform allows startups to sign up and generate quotes within minutes, contrasting with legacy systems requiring three to six month implementations. Turnstile uses AI to transform deal terms into structured data and automates invoicing, subscription management, revenue recognition and reporting. Early customers include Crafting, Reform and Brellium. The funding will support product development, including agentic dunning for collections and conversational revenue operations management.