AI accounting startup Rillet raises $70 million in Andreessen Horowitz, ICONIQ-led round

Major Series B Funding Led by Andreessen Horowitz and ICONIQ

Rillet, the AI-native ERP platform built specifically for modern finance teams, has raised $70 million in a Series B round co-led by Andreessen Horowitz and ICONIQ. This funding propels Rillet’s total raised to more than $100 million in just under one year, showcasing the rapid momentum behind the company’s mission to modernize finance and accounting for ambitious businesses.^[2]

Rapid Growth and Strategic Partnerships

• Rillet’s $70 million Series B comes only 10 weeks after its $25 million Series A led by Sequoia Capital.^[2]
• The company now counts over 200 customers and has doubled its annual recurring revenue (ARR) in just the last 12 weeks.^[2]
• Rillet has secured strategic partnerships with prominent accounting firms including Armanino (top 20) and Wiss (top 50) in the United States.^[2]

Addressing Outdated Accounting Software With Next-Gen AI

Traditional ERP and accounting tools—many of which date back to the 1990s—struggle to deliver the speed, automation, and analytics modern finance teams require. Rillet was founded to offer a ground-up reimagining of enterprise accounting systems, namely by leveraging advanced AI throughout its platform.^[1][2]

Rillet integrates with leading financial tools such as Salesforce, Stripe, Ramp, Brex, and Rippling, automating core workflows:

• Automated Revenue & Invoicing: Real-time payment tracking and predictive cash flow insights.
• Multi-entity Accounting: Seamless consolidation across currencies and subsidiaries.
• Close Management: AI-powered reconciliations and built-in checklists accelerate month-end processes.
• GAAP & Investor Reporting: Extensive reporting capabilities customized for investor and compliance needs.

Built by Accountants, for Accountants

Rillet’s leadership—headed by CEO and co-founder Nicolas Kopp—emphasizes that their product is built by accountants to solve the daily challenges faced by CFOs and controllers.^[1][2]

The company’s proprietary Generative AI capabilities are focused on accuracy, refusing to let language models invent financial numbers. Instead, automation is thoughtfully applied to reconciliation, flux analysis, transaction coding, and routine reporting, allowing finance teams to focus on strategy and decision-making rather than error-prone manual processes.^[4]

Industry Impact and Future Ambitions

With this new capital, Rillet intends to expand its R&D and deliver on its ambition to help multi-billion dollar enterprises operate with leaner teams and real-time insights. As AI adoption accelerates across accounting and enterprise software, platforms like Rillet are reshaping the future of finance.