Summary
Rillet, the AI-native ERP platform for modern finance teams, raised a $100 million Series C at a $1 billion valuation, led by ICONIQ with participation from Sequoia and Andreessen Horowitz. It's Rillet's third round in 14 months, bringing total funding past $200 million. The round funds "accounting superintelligence": AI agents doing finance work inside a real-time general ledger, with human approval and a full audit trail. Rillet doubled new ARR in the last three months and serves more than 600 customers.
Key Points
- $100 million Series C at $1 billion valuation, led by ICONIQ
- Participation: Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners, Creandum
- Third round in 14 months; total funding past $200 million
- Follows $70 million Series B (Aug 2025) at ~$500 million valuation — valuation doubled in about a year
- Doubled new ARR in the last three months; serves 600+ customers
- Customers include Mercor, Neuralink, Skild AI, Postscript, Windsurf, Function Health, Temporal
- Mercor scaled past $2 billion in ARR with a finance team of three using Rillet
- AI-native ERP: real-time general ledger, continuous close architecture, AI agents in one system
- Replacing Oracle Fusion, SAP, Workday, Microsoft Great Plains, NetSuite
- Expanding into biotech, healthcare, fintech, logistics, professional services
- Launched alliance with Ernst & Young for finance transformation in 2026
- Official partner with more than half of the Accounting Today top 20 CPA firms
- Founder/CEO Nicolas Kopp: former U.S. CEO of N26
- Competitors: Basis ($1.15B valuation, Feb 2026), Puzzle, Campfire, DualEntry
- Forbes listed Rillet in its 2026 Fintech 50
- The harder sale: conservative, audit-sensitive enterprises with years of accounting history in legacy systems