Rillet Raises $100M Series C at $1B Valuation to Build Accounting Superintelligence

ICONIQ leads the round with participation from existing investors Sequoia and Andreessen Horowitz — the company’s third raise in one year.

SAN FRANCISCO--(BUSINESS WIRE)--Rillet, the AI-native ERP (enterprise resource planning) platform for modern finance teams, today announced a $100 million Series C led by ICONIQ at a $1 billion valuation, with participation from Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum. The round is Rillet’s third in the last year and brings total funding to more than $200 million.

The raise follows a period of rapid growth for the company. Rillet doubled new ARR in the last three months and now serves more than 600 customers, including publicly listed enterprises and the fastest growing AI companies of all time. After proving its platform for tech and AI companies, Rillet is rapidly expanding into new verticals including biotech, healthcare, fintech, logistics, professional services and more where large legacy enterprises are replacing Oracle Fusion, SAP, Workday, Microsoft Great Plains, and NetSuite to run their accounting on Rillet.

The investment accelerates Rillet’s mission to build the agentic operating layer for finance: the platform where finance professionals and AI agents work together to run the financial operations of a company.

With Rillet, the ERP becomes the harness for the modern finance organization, where people and agents share the same financial data, apply the same accounting policies and controls, and work from a single, continuously updated view of the business. Agents perform increasingly complex financial work, while finance teams retain visibility, approval authority and a complete audit trail.

Rillet is creating an entirely new category of finance infrastructure. Legacy ERPs store transactions while the real work happens in spreadsheets and bolt-on tools, and the newest wave of AI products repeats that pattern by layering agents on top of systems that were never designed for them. Rillet vertically integrates the stack: structured data flows through native integrations into a real-time general ledger, and AI agents operate directly in that ledger with full context, a complete audit trail, and human approval where necessary.

“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,” said Nicolas Kopp, CEO and co-founder of Rillet. “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.”

Rillet’s customers show what that shift looks like in practice. Finance teams at companies like Mercor are working hand in hand with Rillet’s AI agents to scale past $2 billion in ARR with a team of three.

“In our view, Rillet is the clear market leader in AI-native accounting infrastructure,” said Seth Pierrepont, General Partner at ICONIQ and new Rillet board member. “What stands out to us is how customers actually run on it — multi-billion-dollar businesses operating with finance teams a tenth the traditional size, closing their books continuously. We believe Rillet is the foundational infrastructure for the next generation of enterprises in the AI era, and we are proud to deepen our partnership.”

Rillet has been intentional about building this new category of finance with the accounting firms that audit and advise the world’s largest companies. Rillet and Ernst & Young launched an alliance for finance transformation earlier in 2026 and the company is an official partner with more than half of the Accounting Today top 20 CPA firms.

“In 2-3 years, every company will run finance this way - agentic and in real-time,” Kopp concluded. “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.”

About Rillet

Rillet is the AI-native ERP built for the era of agentic finance. By combining a real-time general ledger, continuous close architecture and AI agents in one system, Rillet enables humans and agents to run finance together with full context, controls and auditability. Public companies and fast-growing enterprises including Mercor, Function Health, and Temporal run on Rillet. Rillet works with the top accounting firms and launched an alliance with EY in 2026. Learn more at rillet.com.