Rillet, an AI-native accounting platform, closed a $100 million Series C funding round at a $1 billion valuation, with ICONIQ leading the round. Sequoia Capital, Andreessen Horowitz and Oak HC/FT returned as investors, joined by newcomers including Bain Capital Ventures, Sequoia Global Equities, Battery Ventures, FirstMark, Scale Venture Partners and Creandum. ICONIQ general partner Seth Pierrepont joined the board.
The round marks Rillet's third major fundraise in the past year—a $25 million Series A led by Sequoia, a $70 million Series B co-led by ICONIQ and Andreessen Horowitz, and now this Series C—bringing total raised past $200 million.
The capital acceleration reflects steep revenue growth. The company doubled new annual recurring revenue quarter over quarter during its Series B, then doubled it again in the three months before this latest raise. Rillet now serves over 600 customers across industries.
Nicolas Kopp, Rillet's co-founder and CEO, framed the product as automating the tedious financial work that keeps CFOs tied to analysis and presentations. "CFOs really struggle day to day. They can't see their families on weekends," Kopp said. He emphasized that Rillet positions itself as a tool for finance professionals, not a replacement for them. "Our message is not that we're coming after jobs. That's just not correct."
The customer roster reveals the product's reach into enterprise scale. Mercor, a Rillet client, runs its finance operation with just three staff managing over $2 billion in annual recurring revenue using Rillet's AI agents. Other notable users include Neuralink and Skild AI. Roughly 40 percent of Rillet's customer base now operates outside tech and AI—spanning waste recycling, film studios and other sectors.
Pierrepont said Rillet is the "clear leader in AI-native accounting infrastructure," pointing to the fact that multibillion-dollar operations run on the platform as proof of its utility. That penetration into enterprise finance operations signals that AI-native tools are moving beyond startup tooling and into mainstream corporate finance.
