AI Accounting Startup Rillet has secured $70 million in a Series B round co-led by Andreessen Horowitz and ICONIQ, aiming to modernize finance operations and disrupt legacy enterprise systems.
Rillet Accelerates Growth with $70 Million Series B Investment
AI Accounting Startup Rillet announced it has raised $70 million in a Series B funding round, bringing its total capital raised to over $100 million in less than three months. The round was co-led by venture capital firms Andreessen Horowitz and ICONIQ Growth, with participation from Sequoia Capital, Oak HC/FT, and FOG Ventures.
The company declined to disclose its new valuation, but a source familiar with the deal said Rillet is now valued at approximately $500 million.
Founded by Nicolas Kopp, the former U.S. head of digital bank N26, Rillet develops AI-driven ledger software that enables businesses to automate core accounting functions. The platform is designed to replace conventional accounting systems — often described as static or slow — with a real-time, intelligent toolset capable of streamlining financial operations.
Real-Time Automation and Rapid Adoption
AI Accounting Startup Rillet’s cloud-based solution integrates directly with platforms such as Salesforce, Stripe, and Brex, allowing finance teams to reconcile books in hours instead of weeks. The product also delivers continuous insights through embedded AI models, helping finance professionals move from retrospective analysis to real-time decision-making.
“Our mission is to move beyond traditional accounting tools that act as ‘dumb databases, ’” said Kopp in an interview with Reuters. “Rillet pulls financial data from various sources and uses AI to automate repetitive tasks while delivering actionable insights as transactions happen.”
This enhanced efficiency has fueled the company’s rapid growth. AI Accounting Startup Rillet has more than 200 business clients, including AI coding assistant Windsurf and e-commerce marketing firm Postscript. Over the past 12 weeks, the company reported doubling its annual recurring revenue (ARR), while securing strategic partnerships with accounting firms Armanino and Wiss.
Strategic Expansion and Board Appointments
With the new funding, AI Accounting Startup Rillet plans to scale its platform and grow its team. The company aims to expand its engineering department significantly and invest in product development to further improve automation and scalability for mid-size and enterprise clients.
As part of the financing round, Alex Rampell, General Partner at Andreessen Horowitz, and Seth Pierrepont, General Partner at ICONIQ Growth, will join Rillet’s board of directors. Their expertise in fintech and enterprise SaaS is expected to help guide Rillet through its next growth phase.
Rampell noted in a statement, “Rillet is solving a complex and persistent pain point in enterprise finance — manual processes and delayed visibility. Their AI-first approach stands to redefine how companies think about financial operations.”
AI Disruption in Enterprise Finance
The funding reflects a broader trend in enterprise software investment, as investors increasingly back AI-native startups that challenge longstanding industry incumbents like Oracle and Microsoft. Rillet positions itself as a next-generation platform designed for speed, intelligence, and automation, offering a competitive alternative to legacy systems.
As businesses continue to demand more agility and real-time insight from their financial operations, solutions like Rillet’s are expected to become integral to modern CFO tech stacks.
Rillet’s continued success suggests AI-powered finance automation is rapidly moving from early adoption to mainstream enterprise demand. The company’s momentum and strategic investor backing signal strong confidence in its potential to reshape the accounting software landscape.
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