Rillet, an AI-driven accounting software startup, announced it has secured $70 million in a Series B funding round co-led by venture capital giants Andreessen Horowitz and ICONIQ. The new capital round values the company at approximately $500 million, according to sources close to the deal.
This latest round also included participation from Sequoia Capital, Oak HC/FT, and FOG Ventures, bringing Rillet’s total funding to over $100 million within a few months. Founded by Nicolas Kopp, the former U.S. head of digital bank N26, Rillet aims to disrupt traditional accounting tools dominated by Oracle and Microsoft by offering AI-powered ledger software that automates accounting tasks and delivers real-time insights.
Rillet’s platform integrates with systems such as Salesforce, Stripe, and Brex, allowing finance teams to close books within hours instead of weeks. The startup has already attracted over 200 customers, including AI-assisted coding platform Windsurf and e-commerce marketing company Postscript.
The company reported doubling its annual recurring revenue in just 12 weeks and has formed partnerships with accounting firms like Armanino and Wiss. The fresh funding will accelerate platform development and expand the engineering team.
As part of the funding round, Andreessen Horowitz’s Alex Rampell and ICONIQ’s Seth Pierrepont will join Rillet’s board of directors.