1. Introduction
On August 6, 2025, AI accounting startup Rillet announced it has closed a $70 million Series B round, co-led by prominent venture capital firms Andreessen Horowitz and ICONIQ Capital. This newest influx brings Rillet’s total funding to over $100 million in less than a year, underscoring investor confidence in the company’s ability to modernize accounting systems.
2. Founding Vision
Founded by Nicolas Kopp, former head of digital banking for N26 in the U.S., Rillet was born out of frustration with outdated financial platforms. The company’s platform is billed as an AI-native ERP, built by accountants for accountants, designed to automate complex tasks and eliminate legacy bottlenecks.
3. Series B Details
- Lead Investors: Andreessen Horowitz and ICONIQ Capital spearheaded this Series B, bringing the cumulative funding to north of $100 million.
- Company Valuation: Sources indicate a valuation close to $500 million.
- Board Expansion: Alex Rampell from Andreessen Horowitz and Seth Pierrepont from ICONIQ Capital have joined Rillet’s board.
4. Growth Trajectory
- Rillet’s Annual Recurring Revenue (ARR) doubled within 12 weeks post-Series A.
- The company now serves over 200 clients, including growth-stage firms in the e-commerce and tech sectors.
- They’ve secured key accounting partnerships with firms like Armanino and Wiss to broaden market reach.
5. Why This Matters
Legacy ERP systems, especially in mid-market firms, often operate as disconnected databases, forcing finance teams to rely on manual data consolidation. Rillet automates journal entries, reconciliations, and revenue recognition, enabling CFOs and controllers to “close the books in hours, not weeks.” Its integrations with platforms like Salesforce, Stripe, and Brex further simplify workflow automation.
6. Investor Perspectives
Seth Pierrepont commented, “Rillet’s AI-native approach offers finance teams unmatched speed, efficiency, and clarity.” Their investment signals a belief in automation as a core function in modern finance operations.
7. Market Impact
With this new capital, Rillet is positioned to:
- Accelerate AI and product development
- Expand engineering and go-to-market teams
- Amplify integrations across finance and payment systems
Given that finance and accounting function operations are crucial across industries, such automation tools are emerging as indispensable infrastructure—especially amidst talent shortages and rising workload complexity.
8. Future Outlook
Rillet is poised to become the financial operating system for modern enterprises, especially as manual accounting processes increasingly frustrate CFOs and finance teams. With its Series B and top-tier guidance, the startup looks ready to redefine how businesses structure their financial operations.
