Turnstile Launches with $29M to Bring AI-First Quote-to-Cash to Growing B2B SaaS Companies

WHY THIS MATTERS:
Quote-to-cash has quietly become one of the most painful bottlenecks in modern SaaS. As pricing models evolve beyond simple per-seat subscriptions into usage-based, hybrid and negotiated contracts, revenue operations have struggled to keep up. Many startups are forced into brittle workarounds—spreadsheets, manual CRM updates and delayed reconciliation—or heavyweight enterprise systems that slow growth at the very moment speed matters most. This launch reflects a broader shift toward infrastructure that treats complex commercial terms as a first-class input rather than an exception. As AI accelerates experimentation in pricing and deal structures, flexible, automated quote-to-cash systems are becoming essential to scaling without operational drag.

Turnstile today launched its quote-to-cash platform for sales-led startups with $29 million in funding from First Round, OMERS Ventures, Illuminate Financial, and a number of prominent angel investors. 

When SaaS first emerged, it was built around a simple per-seat model: swipe a card, add users, and pay the bill. Easy. But modern SaaS has become far more complex. Today companies sell usage, tiers, bundles, pilots, ramps, and mid-cycle upgrades — with terms often heavily negotiated. Yet the operational infrastructure to manage this complexity hasn’t kept pace.

The cracks appear the moment the deal is signed. What follows is a scramble: the billing spreadsheet gets a new row, the CRM gets a manual update, and the finance team pieces together a billing schedule from the contract PDF—setting calendar reminders to handle the ramp that kicks in at month six or the pricing change in year two. The same information gets entered into multiple systems by multiple people. Amendments are made mid-contract. Things fall out of sync. Invoices go out wrong. Revenue reporting becomes a monthly reconciliation exercise.

Turnstile was built to close this gap for sales-led startups—and to do it in a radically different way. Legacy quote-to-cash platforms require 3-6 month implementations, dedicated administrators, and six-figure contracts. Turnstile flips that model entirely. It is the first self-service quote-to-cash platform: startups can sign up, connect their CRM, and generate their first quote in minutes—not months. Turnstile uses AI to transform deal terms into structured data—whether entered directly or extracted from existing contracts—and  automates everything downstream: invoicing, subscription management, revenue recognition, and reporting.  No consultants. No IT projects. No waiting.

“Quote-to-cash has been broken for a long time—startups either cobble together spreadsheets and disconnected tools, or they’re forced into enterprise platforms that take months to implement,” said Jordan Zamir, CEO and co-founder of Turnstile.  “We built Turnstile to be a third option: enterprise-grade infrastructure that any startup can set up in an afternoon. Structure the deal however the customer needs, and let everything downstream—billing, reporting, renewals—just work. And for companies with existing contracts, our AI can ingest those documents and turn years of commercial history into structured data in minutes.”

Built for How Deals Actually Work

In sales-led businesses, negotiation is the norm, not the exception. Turnstile starts at quoting because it’s where quote-to-cash breaks first: non-standard terms get captured as unstructured data in documents, then re-keyed across systems, often inconsistently or with human-introduced errors.

Turnstile 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 rather than a spreadsheet.
• 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.

Turnstile serves as the single source of truth for what a customer agreed to, keeping deal terms consistent as they flow from quote to billing and reporting. When terms change—mid-cycle amendments, added seats, discounts, usage adjustments—teams select an effective date and Turnstile automatically recalculates invoices and updates reporting. No manual fixes. No reconciliation.

Early Customer Momentum

Turnstile’s approach is resonating with fast-moving teams that need to close deals quickly while staying operationally clean. Early customers include Crafting, Reform, Brellium, Trayd, and atronous.ai. 

“We work with fast-moving engineering teams shipping AI-generated code at scale—speed is everything, Turnstile lets us move as fast as our customers do. No friction, no back-and-forth on quotes, even with our six-figure contracts. It just works,” says Sumeet Vaidya, CEO of Crafting. 

Funding and What’s Next

The Series A will accelerate Turnstile’s product roadmap and go-to-market expansion. That includes agentic dunning to automate collections, agentic approvals to keep deals moving without bottlenecks, and a chat interface that lets teams manage revenue operations conversationally. Turnstile will also deepen its AI to ingest existing contracts and turn years of commercial history into structured data in minutes.

“Quote-to-cash has been an under-the-radar pain point for startups for several years now. Founders and finance leaders are either managing deals in spreadsheets or buying enterprise software that takes six months to implement. Turnstile is the first platform that’s tailored to how growing companies actually sell, capable of handling complex deals without the complex setup,” said Todd Jackson, Partner at First Round Capital.

“AI is accelerating how software is priced and sold, and static revenue systems just can’t keep up,” said Laura Lenz, Managing Partner at OMERS Ventures. “Turnstile is building the system of record for modern commercial terms, so founders can evolve pricing models over time while keeping revenue infrastructure flexible, durable, and out of the way.”

“Quote-to-cash complexity compounds as companies grow—and AI-driven pricing models are accelerating that complexity even further,” said Alex Gheorghe, Investor at Illuminate Financial. Turnstile brings structure to real-world dealmaking and unlocks automation across billing and reporting, without taking flexibility away from the business.”

FF NEWS TAKE:
Turnstile is targeting a real and growing gap between sales velocity and financial control. The key test will be whether self-serve enterprise-grade tooling can maintain rigor as deal complexity scales. Watch closely as AI-driven pricing models make quote-to-cash a strategic system of record rather than a back-office function.