Turnstile, a San Francisco, CA-based provider of a quote-to-cash platform for sales-led startups, has raised $29 million in a funding series led by First Round, OMERS Ventures, Illuminate Financial, and angel investors.
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The company plans to use the funds to speed up product development and expand its market reach.
Turnstile was created to solve this problem for sales-led startups in an entirely new way.
Traditional quote-to-cash platforms often take 3–6 months to set up, require dedicated admins, and come with very high costs. Turnstile changes this by offering the first self-service quote-to-cash platform. Startups can sign up, connect their CRM, and create their first quote in minutes, not months.
Turnstile uses AI to turn deal terms into structured data—whether entered manually or pulled from existing contracts—and then automates the rest, including invoicing, subscription management, revenue tracking, and reporting. There are no consultants, no complex IT projects, and no long wait times.
The problems start as soon as the deal is signed. After that, teams rush to update systems: someone adds a new row to a billing spreadsheet, updates the CRM manually, and the finance team builds a billing schedule from the contract PDF—often setting reminders for pricing changes or ramps later in the contract. The exact details are entered into different systems by different people. Contracts get updated, systems fall out of sync, invoices can be incorrect, and revenue reporting turns into a time-consuming monthly reconciliation task.
When SaaS first started, pricing was simple: pay per seat, add users, and get billed. But SaaS pricing has become much more complex. Companies now sell based on usage, pricing tiers, bundles, pilot programs, ramped pricing and mid-contract upgrades, often with custom terms. However, the systems used to manage these deals have not evolved to handle this growing complexity.
“Quote-to-cash has been a long-standing problem—startups either rely on spreadsheets and disconnected tools or use enterprise platforms that take months to set up,” said Jordan Zamir, CEO and co-founder of Turnstile. “We built Turnstile as a third option: powerful infrastructure that startups can set up in just an afternoon. Teams can structure deals however they want, while billing, reporting, and renewals run automatically. For companies with existing contracts, our AI can also read those documents and turn years of contract data into organized information in minutes.”
In sales-led businesses, negotiation is standard practice, not the exception. Turnstile begins at the quoting stage because that’s where quote-to-cash processes often break down.
Custom deal terms are usually captured as unstructured information in documents and then manually entered into different systems, leading to inconsistencies and human errors.
Turnstile handles the entire revenue process in one connected quote-to-cash platform with four main modules:
- Quoting: An easy drag and drop quote builder that feels like using a Google Doc but keeps data organized so flexible deals still automate later steps. Teams can use standard plans, or create custom quotes, all stored in a single system rather than spreadsheets.
- Subscription Management: Provides real time tracking of subscriptions, contract changes, and renewals, keeping invoicing and reporting accurate and up to date.
- Billing: Automatically creates accurate invoices from approved quotes and updates, supporting flexible billing schedules and usage based pricing without manual work.
- Financial Reporting: Brings together subscription and billing data to automate revenue recognition and provide real-time insights like ARR, bookings, and accounts receivable, with detailed visibility.
Turnstile serves as the single source of truth for customer agreements, ensuring deal terms are consistent from quoting through billing and reporting. When terms change—such as contract updates, added seats, discounts, or usage changes—teams choose the effective date, and Turnstile automatically updates invoices and reporting. No manual corrections or reconciliation are needed.
Turnstile’s approach is to connect with fast-growing teams that want to close deals quickly while keeping operations organized. Early customers include Crafting, Reform, Brellium, Trayd, and atronous.ai.
“We work with fast-moving engineering teams that ship AI-generated code at scale, where speed is critical. Turnstile helps us move as quickly as our customers. There’s no friction or back-and-forth on quotes, even for six-figure contracts. It just works,” said Sumeet Vaidya, CEO of Crafting.
“Quote-to-cash has been a hidden challenge for startups for years. Founders and finance teams often manage deals in spreadsheets or buy enterprise software that can take six months to set up. Turnstile is the first platform designed for how growing companies actually sell, allowing them to handle complex deals without a complicated setup,” said Todd Jackson, Partner at First Round Capital.
“AI is speeding up how software is priced and sold, and traditional revenue systems can’t keep up,” said Laura Lenz, Managing Partner at OMERS Ventures. “Turnstile is building a central system to manage modern deal terms, allowing founders to update pricing models over time while keeping their revenue systems flexible, reliable, and easy to use.”
“Quote-to-cash becomes more complex as companies grow, and AI-driven pricing is making it even more complicated,” said Alex Gheorghe, Investor at Illuminate Financial. “Turnstile brings structure to real-world deals and enables automation across billing and reporting, while still giving businesses the flexibility they need.”
About Turnstile
Founded in 2021 and led by CEO Jordan Zamir, Turnstile automates quote-to-cash processes for sales-driven companies, no matter how they price their products. By creating a structured system to manage deal terms, Turnstile supports quoting, subscription management, billing, and financial reporting—helping teams stay efficient, get paid faster, and grow with confidence.
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