Rillet Raises $100M Series C at $1B Valuation
Quick Reads:
- Rillet has raised $100 million in Series C funding. The round values the company at $1 billion.
- ICONIQ led the latest funding round.
- Rillet has more than 600 companies using its platform. The startup doubled its annual recurring revenue in three months.
AI-native accounting startup Rillet has raised $100 million in Series C funding, reaching a $1 billion valuation just two years after emerging from stealth. The latest round was led by ICONIQ, according to TechCrunch.
Rillet is building an accounting and enterprise resource planning platform designed around AI from the beginning. Its technology helps businesses manage financial operations, including accounting workflows and reporting.
The company’s rapid growth appears to have played a major role in attracting new investment. Rillet says its annual recurring revenue doubled over the past three months, while its customer base has grown to more than 600 companies.
The funding is also notable because Rillet was not actively planning another round when discussions began. CEO and co-founder Nicolas Kopp said the latest funding came together in less than 48 hours, after growing interest from investors.
Rillet previously raised $70 million in Series B funding in 2025, following earlier rounds backed by investors including Sequoia Capital and Andreessen Horowitz.
The new investment gives Rillet more capital to expand its AI-powered accounting platform and compete with established financial software providers.
For investors, the deal is another sign that AI is moving deeper into back-office operations, with startups targeting areas such as accounting, finance and enterprise resource planning.
Rillet’s rapid rise to a $1 billion valuation shows how quickly AI-native companies can attract major investment when strong customer growth is combined with rising demand for automation.
