AI accounting startup Rillet becomes a unicorn with $100M Series C led by ICONIQ

Tech Funding News · 1 week ago · 19 ● 2 sources

Rillet, an AI-native ERP system designed to replace legacy platforms like NetSuite and SAP, raised $100 million in Series C funding led by ICONIQ at a $1 billion valuation. The company has raised over $200 million total since launching publicly in 2024 and now serves 600+ customers including Neuralink and Mercor, with quarterly ARR doubling repeatedly. Rillet's AI agents handle hundreds of accounting tasks simultaneously, enabling finance teams to shrink dramatically—some customers closing books in three days with teams of two to three people instead of traditional larger teams.