Rillet, an AI-driven accounting startup, has secured $100 million in a Series C funding round, reaching a $1 billion valuation just two years after emerging from stealth in 2024. The funding round was led by Iconiq, with participation from returning investors Andreessen Horowitz and Sequoia. Rillet’s platform leverages artificial intelligence to assist finance teams in managing company books by continuously and automatically integrating data from sources such as Salesforce and Brex.

Since its launch, Rillet has gained rapid traction, now serving over 600 companies and doubling its annual recurring revenue (ARR) within the last three months. CEO and co-founder Nicolas Kopp revealed that the latest fundraising came together extremely quickly—within 48 hours—prompted by the company’s sharp growth and significant new partnerships, including an alliance with EY announced earlier in 2026. This alliance aims to provide AI-native finance transformation with built-in risk controls.

Rillet’s vision is to transform the general ledger from merely a system of record into the central operating system for finance functions. Iconiq’s general partner Seth Pierrepont affirmed that the company’s growth validates this ambitious goal. To date, Rillet has raised over $200 million in total, with its Series A and B rounds led by Sequoia, Iconiq, and Andreessen Horowitz, signaling strong support from top-tier investors keen on disrupting legacy ERP and SaaS finance solutions like NetSuite.

The rapid inflow of capital for AI startups like Rillet highlights sustained investor enthusiasm in this sector, especially those focused on enterprise resource planning and finance automation. While the industry has faced concerns about a possible downturn in software-as-a-service valuations, Rillet’s swift fundraising and valuation milestone underscore the continuing appetite for innovation and disruption in enterprise AI.