The AI-native ERP platform secures backing from Andreessen Horowitz and ICONIQ, bringing complete funding to over $100M in a single yr.
Formidable corporations don’t rise or fall by product alone – they win or lose by how they run finance and accounting. Rillet, the AI-native ERP (enterprise useful resource planning) platform constructed for contemporary finance groups, right now introduced a $70 million Sequence B co-led by Andreessen Horowitz and ICONIQ with participation from Sequoia, Oak HC/FT and earlier traders. At the side of the brand new funding, Andreessen Horowitz Common Associate Alex Rampell and ICONIQ Common Associate Seth Pierrepont are becoming a member of the board.
This spherical comes simply 10 weeks after Rillet introduced a $25m Sequence A spherical from Sequoia, the corporate has now raised over $100 million in below a yr. Since launch, Rillet has signed over 200 clients and doubled its ARR over the previous 12 weeks. The fast development has additionally resulted in strategic partnerships with most of the nation’s high accounting companies like Armanino (high 20) and Wiss (high 50).
The funding accelerates the corporate’s mission to rebuild enterprise accounting from the bottom up, giving finance leaders the flexibility to scale multi-billion greenback corporations with groups a fraction of the dimensions.
“As US CEO of N26, I skilled firsthand how irritating it was to attend weeks for important enterprise metrics,” mentioned Nicolas Kopp, CEO and co-founder of Rillet. “My finance group was world-class, however easy requests took weeks as a result of the methods had been caught prior to now. I knew there needed to be a greater approach.” That conviction led Kopp to accomplice with Stelios Modes, the technical architect behind N26’s cost infrastructure, to utterly rethink what enterprise accounting might change into.
The transformation they envisioned is now a actuality. PostScript, a unicorn with over $100 million in ARR and international operations, closes their books in simply three days utilizing Rillet. Windsurf, one of many fastest-growing corporations in current reminiscence, runs their complete finance operation with a lean group of two folks. Prospects constantly report slicing their shut instances to only a few days whereas implementing Rillet as quick as 4 weeks vs the 12 months required in conventional methods.
Rillet’s breakthrough lies in the way it redefines monetary methods structure. Legacy ERPs are, at their core, “dumb databases”. They retailer transactions, however the actual work occurs in spreadsheets and bolt-on analytics instruments. Rillet flips that mannequin. It begins with native integrations, which allow structured knowledge to move into their sensible basic ledger. AI is then utilized immediately inside the system, empowering finance groups to collaborate in actual time, automate workflows natively and get insightful reporting the second one thing occurs, not days or even weeks later.
Though accounting is the one largest class in enterprise software program – a $500B+ international market that just about each firm on Earth depends upon – the area is dominated by incumbents owned by slow-moving conglomerates: NetSuite by Oracle, Intacct by Sage, Dynamics by Microsoft. Much more current gamers like Acumatica are being folded into non-public fairness portfolios.
Rillet is a clean-slate rethink for this new period – constructed for velocity, intelligence, and scale. And in contrast to these legacy platforms, Rillet is constructed by accountants. Its Chief Product Officer is a former EY controller; the Head of Buyer Success got here from PwC; and the VP of Implementations is a CPA and former buyer. This DNA reveals up in each workflow, each implementation, and each buyer end result.
“Finance groups deserve the identical AI benefits which have revolutionized gross sales, engineering, and authorized.” mentioned Alex Rampell, Common Associate at Andreessen Horowitz. Whereas Seema Amble, Associate at Andreessen Horowitz added: “Rillet is delivering that transformation by rebuilding ERP infrastructure particularly for the AI period. We’re excited to help their imaginative and prescient as they scale to serve the subsequent technology of high-growth corporations.”
“In our view, Rillet is not only modernizing accounting software program, it’s redefining what finance groups can obtain when free of outdated methods, mentioned Seth Pierrepont, Common Associate at ICONIQ. “Their AI-native method may give corporations a transparent edge: quicker insights, leaner groups, and smarter choices. We consider Rillet will change into foundational infrastructure for the subsequent technology of category-defining companies.”
The timing right here is important. The accounting business is dealing with a serious expertise crunch, with 75% of accountants anticipated to retire within the subsequent 15 years. On the similar time, 80% of routine monetary operations could possibly be automated in keeping with Accenture. Rillet sits proper at this crossroads, creating a brand new platform shift in how people and AI work collectively in finance. The result’s transformative: finance groups get extra completed with fewer folks, whereas shifting their focus from handbook grunt work to strategic evaluation that truly strikes the needle for his or her enterprise.
Trying forward, Rillet’s plan is to increase its AI capabilities and deepen integrations throughout the monetary expertise stack. The group’s final imaginative and prescient extends far past automation; they’re constructing in direction of a collaborative platform the place AI brokers and human experience work collectively to rework how companies perceive and handle their monetary efficiency.
“Our clients are constructing the businesses that can outline the subsequent decade of enterprise,” Kopp concluded. “We’re constructing the infrastructure that can take them there and redefine what’s attainable when finance groups have actually trendy instruments.”
With a number of clients anticipated to go public on Rillet’s platform within the subsequent 6-12 months, the corporate is about to show that right now’s most bold companies can scale from startup to IPO on actually AI-native monetary infrastructure – signaling the primary main shift in years in how corporations run, and win, with finance.
