Rillet Reaches Unicorn Status With $100 Million Series C

AI accounting startup Rillet has reached unicorn status after securing $100 million in a Series C funding round that values the company at $1 billion. The investment was led by ICONIQ, with participation from several major firms including Sequoia Capital, Andreessen Horowitz, Oak HC/FT, Bain Capital Ventures, Sequoia Global Equities, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum.

Rillet provides an AI-native accounting platform designed to automate manual financial operations and replace legacy enterprise resource planning systems from providers such as Oracle and SAP. The company currently serves over 600 customers, including Neuralink and Skild AI, and has established partnerships with EY and more than half of the top 20 CPA firms listed by Accounting Today.

CEO Nicolas Kopp stated that the platform aims to reduce the manual workload for CFOs, allowing them to focus on strategy rather than data entry. Following the fundraise, ICONIQ general partner Seth Pierrepont joined the company's board.