AI accounting startup Rillet announced on Tuesday that it has secured $100 million in Series C funding, led by Iconiq, which values the company at $1 billion. Returning investors in the round included Andreessen Horowitz and Sequoia.
Rillet, which emerged from stealth in 2024, develops software that deploys AI to help finance professionals manage company accounts. The company states its software can automatically and continuously pull data from sources such as Salesforce or Brex.
The firm reports having more than 600 companies as customers and claims to have doubled its annual recurring revenue (ARR) in the past three months. Nicolas Kopp, Rillet's co-founder and CEO, stated on X that the latest funding round was completed in "less than 48 hours."
Seth Pierpont, General Partner at ICONIQ, commented that a year ago, they backed a vision for the general ledger to become an operating system for finance, and that vision is now a reality. Rillet previously raised a $70 million Series B last year, led by ICONIQ and Andreessen Horowitz, and a $25 million Series A led by Sequoia. The company has raised more than $200 million to date.