AI accounting startup Rillet announced a $100 million Series C round on August 19, 2026, valuing the company at $1 billion. The round was led by Iconiq, with returning investors Andreessen Horowitz and Sequoia also participating.
Rillet’s platform uses AI to help finance professionals manage company accounts, including automatically pulling data from sources such as Salesforce and Brex. The company says it counts more than 600 businesses as customers and has doubled its annual recurring revenue (ARR) in the past three months.
Co-founder and CEO Nicolas Kopp said on X that the round came together in “less than 48 hours.” He noted the company had not been planning to raise, but investor interest grew following several developments since its last funding round, including an alliance with EY and the jump in ARR and customer numbers.
“A year ago, we backed a bold vision for Rillet: that the general ledger could become more than a system of record and instead the operating system for finance,” said Seth Pierrepont, general partner at Iconiq, in a statement. “That vision is now reality.”
The Series C follows a $70 million Series B led by Iconiq and Andreessen Horowitz, and a $25 million Series A led by Sequoia. Rillet has now raised more than $200 million in total since emerging from stealth in 2024.
The raise reflects continued investor appetite for AI startups operating in the enterprise resource planning (ERP) space, where companies like Rillet are positioned to compete with established platforms such as NetSuite. The speed and scale of Rillet’s fundraising may suggest that investor enthusiasm for AI-driven enterprise software remains strong.
Source: TechCrunch