Rillet, an artificial intelligence-driven enterprise resource planning platform designed for contemporary finance departments, has completed a $100 million Series C financing round that values the company at $1 billion. ICONIQ led the investment, with backing from Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum.
This marks the startup’s third capital raise within roughly the past year and elevates its cumulative funding above $200 million.
The fresh capital arrives amid strong momentum.
In the three months preceding the announcement, Rillet doubled its new annual recurring revenue.
The company now supports more than 600 customers, ranging from publicly traded organizations to some of the most rapidly expanding artificial intelligence firms.
Having established itself among technology and AI businesses, Rillet is broadening its reach into additional sectors such as biotechnology, healthcare, financial technology, logistics, and professional services.
In these markets, larger organizations are migrating away from longstanding systems including Oracle Fusion, SAP, Workday, Microsoft Great Plains, and NetSuite in favor of Rillet’s accounting tools.
The funding will advance Rillet’s goal of developing what it describes as an agentic operating layer for finance.
In this model, human professionals and AI agents collaborate within a unified environment to manage a company’s financial activities.
The platform functions as a central framework in which both people and automated systems draw upon identical financial data, adhere to the same accounting rules and controls, and operate from one continuously refreshed perspective of the organization.
Agents handle progressively sophisticated tasks while finance staff maintain oversight, approval rights, and comprehensive audit records.
Rillet differentiates itself by integrating the full technology stack rather than adding AI capabilities onto older systems.
Structured information flows through native connections into a real-time general ledger, where AI agents work directly with complete contextual awareness, full auditability, and human sign-off when needed.
Traditional enterprise resource planning tools largely serve as repositories for past transactions, with much of the actual processing occurring in spreadsheets or separate applications.
Newer AI offerings often follow a similar pattern by placing agents atop infrastructures not originally built for them.
Nicolas Kopp, Rillet’s chief executive officer and co-founder, explained that for two decades enterprise resource planning systems primarily recorded historical events.
In the current AI-driven period, he argued, these systems must evolve into platforms that enable forthcoming actions. Finance-focused agents require more than data access; they need to operate inside the general ledger itself.
Rillet aims to create a shared setting in which humans and agents access the same financial reality, allocate responsibilities, and ensure every step remains verifiable, supporting continuous, around-the-clock finance operations.
Customer results illustrate the approach in action.
At firms such as Mercor, small finance teams of just three people have leveraged Rillet’s AI agents to support growth beyond $2 billion in annual recurring revenue.
Seth Pierrepont, a general partner at ICONIQ who is joining Rillet’s board, described the company as the provider of AI-native accounting infrastructure.
He highlighted how multi-billion-dollar organizations run with finance teams a fraction of conventional size and close their books on an ongoing basis, positioning Rillet as core infrastructure for the next wave of AI-era enterprises.
Rillet has also cultivated relationships with accounting firms that serve large global clients.
It established a finance transformation partnership with Ernst & Young earlier in 2026 and maintains official collaborations with more than half of the top 20 CPA firms ranked by Accounting Today. Kopp now anticipates that within two to three years most companies will manage finance in an agentic, real-time manner, with Rillet providing the underlying system of context and coordination to make that shift possible.