Rillet, the AI-native ERP (enterprise resource planning) platform built for modern finance teams, announced a $70 million Series B co-led by Andreessen Horowitz and ICONIQ with participation from Sequoia, Oak HC/FT and earlier investors. In conjunction with the new funding, Andreessen Horowitz General Partner Alex Rampell and ICONIQ General Partner Seth Pierrepont are joining the board.
This round comes just 10 weeks after Rillet announced a $25m Series A round from Sequoia, the company has now raised over $100 million in under a year. Since launch, Rillet has signed over 200 customers and doubled its ARR over the past 12 weeks. The rapid growth has also resulted in strategic partnerships with many of the nation’s top accounting firms like Armanino (top 20) and Wiss (top 50).
The investment accelerates the company’s mission to rebuild enterprise accounting from the ground up, giving finance leaders the ability to scale multi-billion dollar companies with teams a fraction of the size.
“As US CEO of N26, I experienced firsthand how frustrating it was to wait weeks for critical business metrics,” said Nicolas Kopp, CEO and co-founder of Rillet. “My finance team was world-class, but simple requests took weeks because the systems were stuck in the past. I knew there had to be a better way.” That conviction led Kopp to partner with Stelios Modes, the technical architect behind N26’s payment infrastructure, to completely rethink what enterprise accounting could become.
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The transformation they envisioned is now a reality. PostScript, a unicorn with over $100 million in ARR and global operations, closes their books in just three days using Rillet. Windsurf, one of the fastest-growing companies in recent memory, runs their entire finance operation with a lean team of two people. Customers consistently report cutting their close times to just a few days while implementing Rillet as fast as 4 weeks vs the 12 months required in traditional systems.
Rillet’s breakthrough lies in how it redefines financial systems architecture. Legacy ERPs are, at their core, “dumb databases”. They store transactions, but the real work happens in spreadsheets and bolt-on analytics tools. Rillet flips that model. It starts with native integrations, which enable structured data to flow into their smart general ledger. AI is then applied directly within the system, empowering finance teams to collaborate in real time, automate workflows natively and get insightful reporting the moment something happens, not days or weeks later.
SOURCE: GlobeNewswire
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