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Iconiq

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Rillet Raises $100 Million in 48 Hours and Reaches a $1 Billion Valuation as AI-Powered Accounting Expands

Rillet Raises $100 Million in 48 Hours and Reaches a $1 Billion Valuation as AI-Powered Accounting Expands

Startup Rillet has raised $100 million in a round led by Iconiq and Sequoia, bringing its valuation to $1 billion as growth accelerates for its accounting platform powered by AI agents. The company says its customers are replacing legacy accounting and ERP systems, while it focuses on governance, data security and assisting accountants rather than replacing them.

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Rillet Raises $100 Million in Funding Round at a $1 Billion Valuation

Rillet Raises $100 Million in Funding Round at a $1 Billion Valuation

Rillet, the developer of an AI-powered enterprise resource planning platform, announced that it raised $100 million in a Series C round led by ICONIQ, bringing its total funding to more than $200 million. The company will use the investment to develop agents capable of carrying out more complex financial tasks and expand into new sectors.