AI accounting startup Rillet has successfully raised $100 million in Series C funding, achieving a valuation of $1 billion. The round was led by Iconiq, with participation from returning investors like Andreessen Horowitz and Sequoia. Since emerging from stealth in 2024, Rillet has rapidly gained traction in the enterprise resource planning sector, boasting over 600 customers and a significant increase in annual recurring revenue.
The company’s platform utilizes AI to streamline financial management by integrating data from various sources. Rillet's co-founder and CEO, Nicolas Kopp, noted that the funding round was finalized in under 48 hours, driven by heightened interest following recent partnerships and growth metrics. To date, Rillet has raised over $200 million across multiple funding rounds.