Restructuring Enterprise Accounting with an AI-Integrated ERP System: Rillet Secures $70 Million Funding for Modern Finance Teams' Transformation
Rillet Raises $70 Million in Series B Funding to Revolutionize Finance Infrastructure
Rillet, an innovative AI-native enterprise resource planning (ERP) platform, has secured $70 million in a Series B funding round led by top-tier venture capital firms Andreessen Horowitz and ICONIQ. This investment will fuel the expansion of AI capabilities and fintech ecosystem integrations.
Since its launch in 2024, Rillet has rapidly gained traction, signing over 200 customers and doubling its annual recurring revenue in the past 12 weeks. The platform, co-founded by Nicolas Kopp, former U.S. CEO of N26, and Stelios Modes, the technical architect behind N26's payment infrastructure, has redefined traditional ERP models by embedding machine learning and AI at its core.
Rillet offers a self-driving, intelligent finance system that actively manages financial operations, providing real-time visibility, instant book closing, automatic account reconciliation, dynamic forecasting, and advanced reporting. Unique features include AI-powered finance agents that automate routine financial tasks, real-time dashboards and insights, and support for complex financial scenarios.
The global accounting software market exceeds $500 billion, and with up to 80% of routine financial tasks potentially being automated, Rillet is poised to disrupt this century-old industry. The company's AI-native architecture enables adaptive close processes, multi-entity consolidation, dynamic revenue recognition, and continuous reporting.
Strategic partnerships with top U.S. accounting firms like Armanino and Wiss further validate Rillet's market credibility. The platform's AI-native approach provides faster insights, leaner teams, and smarter decisions, addressing the impending talent crisis in finance, with an estimated 75% of accountants expected to retire in the next 15 years.
Rillet's founders, backed by industry veterans with accounting expertise, are leading the way in the future of enterprise accounting. The total funding for Rillet now exceeds $100 million, achieved in under a year.
With the addition of Alex Rampell from Andreessen Horowitz and Seth Pierrepont from ICONIQ on its board, Rillet is set to accelerate its mission to disrupt traditional accounting systems. The Series B round follows a $25M Series A led by Sequoia, reflecting skyrocketing traction for Rillet.
As finance teams shift focus from manual grunt work to strategic, data-driven decisions, Rillet is helping lead the way in the future of enterprise accounting, transforming finance infrastructure from legacy, static backend tools into real-time intelligent operating layers.
[1] Rillet's Website
[2] TechCrunch Article
[3] Forbes Article
[4] VentureBeat Article
[5] Business Insider Article
- The Series B funding for Rillet, a cutting-edge AI-native enterprise resource planning platform, will be utilized to enhance its technology, facilitate business growth, and bolster its fintech ecosystem integrations.
- As Rillet continues to revolutionize finance infrastructure with its self-driving, intelligent finance system, the company is poised to significantly impact the $500 billion global accounting software market by automating up to 80% of routine financial tasks and addressing the impending talent crisis in finance.
