AI accounting platform Rillet has closed a $100 million Series C round at a $1 billion valuation, marking a major milestone just two years after emerging from stealth. The round was led by Iconiq, with continued support from Andreessen Horowitz and Sequoia.
Built for finance teams, Rillet uses AI to streamline bookkeeping and general ledger workflows. Its system can continuously connect with business tools such as Salesforce and Brex, helping companies keep financial data updated with less manual effort.
The startup says it now serves more than 600 companies and has doubled annual recurring revenue over the past three months. Co-founder and CEO Nicolas Kopp noted that the new funding came together in less than 48 hours, driven by rapid customer growth, stronger revenue momentum, and a recent alliance with EY.
Rillet previously raised a $70 million Series B and a $25 million Series A, bringing total funding to more than $200 million. The company's rise reflects how quickly AI-native enterprise tools are reshaping the future of business software. In the years ahead, this model could help finance operations become faster, smarter, and more connected.
