The general ledger rarely commands venture attention, but Rillet has made it the center of a $1B company. The AI accounting startup closed a $100M Series C led by Iconiq, with Andreessen Horowitz and Sequoia returning, two years after leaving stealth.
CEO Nicolas Kopp said the round took shape in under 48 hours. Rillet claims more than 600 customers and says annual recurring revenue doubled over the past three months.
The platform automates bookkeeping by continuously pulling data from systems such as Salesforce and Brex, sparing finance teams from manual updates. Rillet sees the ledger as the operating system of finance rather than a passive record.
Iconiq general partner Seth Pierrepont, who has backed the company since its earlier rounds, said the firm’s bet is that the ledger evolves from a system of record into the command center for finance.
The new money follows a $70M Series B led by Iconiq and a16z and a $25M Series A from Sequoia, bringing total funding past $200M.
Rillet faces a crowded pack of AI finance tools, but its pace of revenue growth and blue-chip backers point to strong appetite for automated accounting.
