Rillet raises $100M Series C at $1B valuation, 2 years post-stealth
Original: Rillet raises $100M Series C at $1B valuation — 2 years after emerging from stealth
Why This Matters
Rillet's rapid rise to unicorn status highlights accelerating investor confidence in AI-driven disruption of legacy ERP and SaaS platforms.
AI accounting startup Rillet raised a $100M Series C at a $1B valuation on August 19, 2026, led by Iconiq, with returning investors Andreessen Horowitz and Sequoia. The company, which emerged from stealth in 2024, has doubled its ARR in three months and serves 600+ customers.
Rillet, an AI-powered accounting and ERP startup, announced a $100 million Series C funding round at a $1 billion valuation on Tuesday, August 19, 2026. The round was led by Iconiq, with participation from returning investors Andreessen Horowitz and Sequoia. Co-founder and CEO Nicolas Kopp stated on X that the round came together in under 48 hours, driven by unsolicited investor interest. Kopp noted the company had not planned to raise but cited strong momentum — including an alliance with EY, doubled ARR over the past three months, and a customer base exceeding 600 companies — as factors that accelerated investor demand. Rillet's platform uses AI to automate financial record-keeping, continuously pulling data from sources such as Salesforce and Brex. Iconiq General Partner Seth Pierrepont said the vision of the general ledger becoming 'the operating system for finance' is now a reality. The Series C follows a $70M Series B led by Iconiq and Andreessen Horowitz, and a $25M Series A led by Sequoia. Rillet has raised over $200 million in total since emerging from stealth in 2024.