AI Accounting Startup Rillet Secures $70M in Series B Funding Led by Andreessen Horowitz

Rillet, an AI-native enterprise resource planning platform, raised $70 million in Series B funding from Andreessen Horowitz and ICONIQ. The company aims to replace "dumb databases" with AI accounting that closes books in hours. Founded by Nicolas Kopp and Stelios Modes, Rillet has signed over 200 customers and doubled its annual recurring revenue in 12 weeks. The funding will accelerate Rillet's push to rebuild enterprise accounting from the ground up.

Rillet, an AI-native enterprise resource planning (ERP) platform, has raised $70 million in Series B funding co-led by Andreessen Horowitz and ICONIQ. The company aims to modernize enterprise accounting by replacing traditional, slow legacy systems with AI-driven solutions that can close books in hours. This funding round brings Rillet's total funding to over $100 million in less than a year.

Founded by Nicolas Kopp and Stelios Modes, Rillet was born out of Kopp's experience leading N26's U.S. operations, where he observed that finance teams were hindered by outdated systems. The platform is designed to eliminate the inefficiencies of legacy systems owned by large incumbents such as Oracle (NYSE:ORCL), Sage, and Microsoft (NASDAQ:MSFT), and integrate seamlessly with tools like Salesforce CRM, Stripe, and Brex.

Rillet has seen significant growth since its launch, signing over 200 customers and doubling its annual recurring revenue in just 12 weeks. The company has also formed partnerships with top accounting firms like Armanino and Wiss. Clients such as Postscript, which generates over $100 million in annual recurring revenue, close their books in just three days using Rillet, while Windsurf manages its entire finance operation with a team of two people.

The $70 million raise includes participation from Sequoia, Oak HC/FT, and earlier investors. The funding will accelerate Rillet's push to rebuild enterprise accounting from the ground up, giving finance leaders the ability to scale multi-billion-dollar companies with smaller, more efficient teams. As part of the round, Andreessen Horowitz General Partner Alex Rampell and ICONIQ General Partner Seth Pierrepont are joining Rillet's board of directors.

"Finance teams deserve the same AI advantages that have revolutionized sales, engineering, and legal," Rampell said in the company's statement, while Pierrepont noted that the company's AI-native approach "can give companies a clear edge: faster insights, leaner teams, and smarter decisions."

Rillet's AI-native architecture aims to address the growing talent shortage in public accounting, with the American Institute of Certified Public Accountant reporting that 75% of today's public accounting CPAs are expected to retire within the next 15 years. By enabling finance teams to operate with fewer people and focus on higher-value strategic analysis, Rillet aims to fill this gap.

Looking ahead, Rillet plans to expand its AI capabilities, deepen integrations across the financial technology stack, and build toward a collaborative environment where AI agents and human experts manage financial performance together. Several customers are expected to go public within the next six to 12 months using Rillet's platform.

References:

[1] https://uk.finance.yahoo.com/news/rillet-raises-70m-andreessen-horowitz-170527896.html
[2] https://www.benzinga.com/news/topics/25/08/47173318/rillet-raises-70m-from-andreessen-horowitz-to-replace-dumb-databases-with-ai-accounting-that-closes-books-in-hours