Rillet Raises $100M Series C at $1B Valuation as AI Accounting Momentum Builds

Rillet announced a $100 million Series C at a $1 billion valuation, with Iconiq leading the round. Returning investors include Andreessen Horowitz and Sequoia. The AI accounting startup emerged from stealth in 2024 and has now raised more than $200 million to date.

Rillet says it doubled its ARR in the past three months and now counts more than 600 companies as customers. Co-founder and CEO Nicolas Kopp said the latest round came together in less than 48 hours, even though the company was not planning to raise. The company pointed to customer growth, ARR gains, and an alliance with EY as part of the momentum behind investor interest.

Rillet’s platform uses AI to help finance professionals manage company books. The company says its software can automatically and continuously pull data from sources such as Salesforce or Brex. That positions Rillet in the enterprise resource planning market, where AI-native tools are pushing into workflows long served by legacy SaaS products.

Rillet’s rapid fundraising shows how strong investor appetite remains for AI startups, particularly those targeting core enterprise software categories. The company previously raised a $70 million Series B led by Iconiq and Andreessen Horowitz, shortly after a $25 million Series A led by Sequoia. For finance teams and ERP buyers, the key question is whether AI-native accounting systems can move beyond automation and become central operating systems for finance.