Rillet Raises $100M at $1B Valuation to Rebuild Accounting
Rillet is building for a finance problem that has survived decades of software upgrades: accountants still spend too much time reconciling what already happened. The company’s answer is to redesign the ERP around a continuously updated general ledger where finance teams and AI agents work from the same data, accounting policies, controls, and audit trail. Instead of waiting for month-end close, Rillet is pushing toward a model where financial operations can run continuously.
The company has raised $100 million in Series C funding at a $1 billion valuation, led by ICONIQ. Sequoia, Andreessen Horowitz, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners, Creandum, and others also participated. The round is Rillet’s third in 14 months and takes total funding above $200 million.
Rillet was founded by Nicolas Kopp and Stelios Modes after experiencing the limitations of legacy finance systems firsthand. The company spent three years building before launching publicly in 2024, with the goal of replacing systems designed primarily to store transactions with infrastructure built for automation from the start.
Its core distinction is architectural. Rillet does not simply place AI agents on top of a conventional ERP. Structured data flows into a real-time ledger, and agents work directly inside that financial system with full context and human approval where required. The company says this enables continuous reconciliation, journal-entry automation, and more complex finance workflows without breaking auditability.
Rillet now serves more than 600 customers, says new ARR doubled in the last three months, and reports monthly AI-agent usage growing by 70%. Customers include Mercor and othhigh-growth enterprises, while the company has also launched an alliance with EY.
The larger shift is clear: accounting software is moving from recording financial history to participating in financial work. Rillet is betting that the next ERP leader will be the platform where humans and agents share the same financial truth in real time.