Rillet, the AI-native enterprise resource planning software company, has raised USD 100 million in a Series C funding round led by ICONIQ at a valuation of USD 1 billion, reaching unicorn status. The round was announced on 19 August and brings total funding for the company to more than USD 200 million.
Alongside ICONIQ, participants in the round included Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Creandum and Scale Venture Partners.
THIRD MAJOR RAISE IN ABOUT 15 MONTHS
The Series C is Rillet's third major raise in roughly 15 months, following a USD 70 million Series B in August 2025 and a USD 25 million Series A in May 2025. Rillet said it had doubled new annual recurring revenue in the last three months and now serves more than 600 customers.
Rillet said large legacy enterprises are replacing Oracle Fusion, SAP, Workday, Microsoft Great Plains and NetSuite to run their accounting on its platform. Chief executive Nicolas Kopp said the ERP "has to become the operating layer for what happens next", adding that finance agents "need to work inside the general ledger".
Kopp said on X that the round came together in less than 48 hours.
TARGETING BIOTECH TO LOGISTICS
The company said the investment accelerates its mission to build "the agentic operating layer for finance", as it expands beyond tech and AI companies into verticals including biotech, healthcare, fintech, logistics and professional services.
Seth Pierrepont, general partner at ICONIQ, who joins Rillet's board, said: "In our view, Rillet is the clear market leader in AI-native accounting infrastructure."
Rillet and Ernst & Young launched an alliance for finance transformation earlier in 2026, and the company says it is an official partner of more than half of the Accounting Today top 20 CPA firms.
The Series C was announced in a company press release on 19 August. ICONIQ also co-led Rillet's USD 70 million Series B with Andreessen Horowitz in 2025.
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