AI accounting startup Rillet has reached unicorn status after raising $100 million in Series C funding at a $1 billion valuation.
The New York-based company is developing an AI-native accounting and ERP platform designed to help finance teams automate accounting tasks and manage financial operations.
The latest funding round was led by ICONIQ with participation from existing investors including Sequoia Capital, Andreessen Horowitz and Oak HC/FT. New investors in the round include Bain Capital Ventures, Sequoia Global Equities, Battery Ventures, FirstMark, Scale Venture Partners and Creandum.
The Series C brings Rillet’s total funding to more than $200 million.
| Category | Details |
|---|---|
| Company | Rillet |
| Industry | AI Accounting / ERP / FinTech |
| Latest Round | Series C |
| Funding Raised | $100 million |
| Valuation | $1 billion |
| Lead Investor | ICONIQ |
| Total Funding | $200 million+ |
| Customers | 600+ |
| CEO & Co-founder | Nicolas Kopp |
| Main Focus | AI-native accounting and finance automation |
Rillet’s latest funding round makes the company one of the growing number of AI startups to reach a $1 billion valuation.
The company was launched publicly about two years ago and has moved quickly through multiple funding rounds. It previously raised a Series A led by Sequoia Capital and later secured a $70 million Series B led by Andreessen Horowitz and ICONIQ.
According to Rillet, its new annual recurring revenue doubled again during the three months leading up to the latest funding round.
The company now serves more than 600 customers, showing that demand for AI-powered financial software is expanding beyond technology companies.
Rillet is positioning its platform as an alternative to traditional enterprise accounting and ERP software.
The company competes in a market that includes established platforms such as Oracle, SAP, Workday and NetSuite.
Instead of simply adding AI features to traditional accounting software, Rillet says it has built its platform around AI from the beginning.
Its system combines a real-time general ledger with AI agents that can help finance teams perform increasingly complex accounting and financial tasks.
Human employees continue to maintain oversight, approval authority and control over important financial decisions.
Rillet initially gained traction among technology and AI startups, but its customer base is becoming more diverse.
About 40% of its customers are now outside the technology and AI sectors, according to the company.
Its customers include companies such as Neuralink, Skild AI and Mercor, as well as businesses operating in areas including recycling and entertainment.
The company is also expanding into sectors such as:
This expansion could significantly increase Rillet’s potential market as businesses look for ways to automate finance and accounting operations.
One of Rillet’s notable customers is AI recruiting company Mercor.
According to Rillet, Mercor’s finance team is using its AI agents as the company scales beyond $2 billion in annual recurring revenue, with a finance team of only three people.
The new $100 million investment will help Rillet expand its AI-powered financial platform and develop what the company describes as an “agentic operating layer for finance.”
The goal is to create a single environment where human finance professionals and AI agents can work with the same financial data and accounting controls.
AI agents can automate tasks while human employees maintain oversight and approval.
Rillet’s approach is designed to provide businesses with:
Rillet CEO and co-founder Nicolas Kopp said, “For the last two decades, the ERP has been treated as a system of record, a place to store what already happened. In the AI era, it has to become the operating layer for what happens next. Finance agents need more than access to data; they need to work inside the general ledger.” He added, “Rillet is building that harness: one environment where humans and agents share the same financial truth, divide the work and keep every action auditable. The result is a finance function that can operate 24/7 and in real time.”
Kopp concluded, “In 2-3 years, every company will run finance this way – agentic and in real-time. We’re building the system of context and harness that will take them there and redefine what’s possible for the finance team of the future.”
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