The AI-native ERP platform secures backing from Andreessen Horowitz and ICONIQ, bringing total funding to over $100M in one year.

San Francisco, California – August 6, 2025; Ambitious companies don’t rise or fall by product alone – they win or lose by how they run finance and accounting. Rillet, the AI-native ERP (enterprise resource planning) platform built for modern finance teams, today announced a $70 million Series B co-led by Andreessen Horowitz and ICONIQ with participation from Sequoia, Oak HC/FT and earlier investors. In conjunction with the new funding, Andreessen Horowitz General Partner Alex Rampell and ICONIQ General Partner Seth Pierrepont are joining the board.

This round comes just 10 weeks after Rillet announced a $25m Series A round from Sequoia, the company has now raised over $100 million in under a year. Since launch, Rillet has signed over 200 customers and doubled its ARR over the past 12 weeks. The rapid growth has also resulted in strategic partnerships with many of the nation’s top accounting firms like Armanino (top 20) and Wiss (top 50).

The investment accelerates the company’s mission to rebuild enterprise accounting from the ground up, giving finance leaders the ability to scale multi-billion dollar companies with teams a fraction of the size.

“As US CEO of N26, I experienced firsthand how frustrating it was to wait weeks for critical business metrics,” said Nicolas Kopp, CEO and co-founder of Rillet. “My finance team was world-class, but simple requests took weeks because the systems were stuck in the past. I knew there had to be a better way.” That conviction led Kopp to partner with Stelios Modes, the technical architect behind N26’s payment infrastructure, to completely rethink what enterprise accounting could become.

The transformation they envisioned is now a reality. PostScript, a unicorn with over $100 million in ARR and global operations, closes their books in just three days using Rillet. Windsurf, one of the fastest-growing companies in recent memory, runs their entire finance operation with a lean team of two people. Customers consistently report cutting their close times to just a few days while implementing Rillet as fast as 4 weeks vs the 12 months required in traditional systems.

Rillet’s breakthrough lies in how it redefines financial systems architecture. Legacy ERPs are, at their core, “dumb databases”. They store transactions, but the real work happens in spreadsheets and bolt-on analytics tools. Rillet flips that model. It starts with native integrations, which enable structured data to flow into their smart general ledger. AI is then applied directly within the system, empowering finance teams to collaborate in real time, automate workflows natively and get insightful reporting the moment something happens, not days or weeks later.

Although accounting is the single biggest category in enterprise software –  a $500B+ global market that nearly every company on Earth depends on –  the space is dominated by incumbents owned by slow-moving conglomerates: NetSuite by Oracle, Intacct by Sage, Dynamics by Microsoft. Even more recent players like Acumatica are being folded into private equity portfolios. 

Rillet is a clean-slate rethink for this new era – built for speed, intelligence, and scale. And unlike those legacy platforms, Rillet is built by accountants. Its Chief Product Officer is a former EY controller; the Head of Customer Success came from PwC; and the VP of Implementations is a CPA and former customer. This DNA shows up in every workflow, every implementation, and every customer result.

“Finance teams deserve the same AI advantages that have revolutionized sales, engineering, and legal.” said Alex Rampell, General Partner at Andreessen Horowitz. While Seema Amble, Partner at Andreessen Horowitz added: “Rillet is delivering that transformation by rebuilding ERP infrastructure specifically for the AI era. We’re excited to support their vision as they scale to serve the next generation of high-growth companies.” 

“In our view, Rillet is not just modernizing accounting software, it’s redefining what finance teams can achieve when freed from outdated systems, said Seth Pierrepont, General Partner at ICONIQ. “Their AI-native approach can give companies a clear edge: faster insights, leaner teams, and smarter decisions. We believe Rillet will become foundational infrastructure for the next generation of category-defining businesses.”

The timing here is critical. The accounting industry is facing a major talent crunch, with 75% of accountants expected to retire in the next 15 years. At the same time, 80% of routine financial operations could be automated according to Accenture. Rillet sits right at this crossroads, creating a new platform shift in how humans and AI work together in finance. The result is transformative: finance teams get more done with fewer people, while shifting their focus from manual grunt work to strategic analysis that actually moves the needle for their business.

Looking ahead, Rillet’s plan is to expand its AI capabilities and deepen integrations across the financial technology stack. The team’s ultimate vision extends far beyond automation; they’re building towards a collaborative platform where AI agents and human expertise work together to transform how businesses understand and manage their financial performance. 

“Our customers are building the companies that will define the next decade of business,” Kopp concluded. “We’re building the infrastructure that will take them there and redefine what’s possible when finance teams have truly modern tools.”

With several customers expected to go public on Rillet’s platform in the next 6-12 months, the company is set to prove that today’s most ambitious businesses can scale from startup to IPO on truly AI-native financial infrastructure – signaling the first major shift in years in how companies run, and win, with finance.

About Rillet

Rillet is the AI-native accounting platform made to tailor fit the workflows of accountants and a full replacement for legacy ERPs. Scaling and hyper-growth companies like Windsurf, Bitwarden and Decagon use Rillet to enable a smarter close with native integrations, automated journal entries and AI embedded workflows. They have raised over $100M from Sequoia, Andreessen Horowitz, ICONIQ and others with offices in New York, San Francisco and Barcelona.

About Andreessen Horowitz

Andreessen Horowitz (aka a16z) is a venture capital firm that backs bold entrepreneurs building the future through technology. a16z is stage agnostic and invests in seed to venture to growth-stage technology companies, across AI, bio + healthcare, consumer, crypto, enterprise, fintech, games, infrastructure, and companies building toward American dynamism. a16z has $46B in committed capital across multiple funds.

About ICONIQ

ICONIQ is a global investment firm catalyzing opportunity through extraordinary community. Its venture and growth investment platform partners with visionaries defining the future of their industries to achieve uncommon outcomes. Drawing on the wisdom and connectivity of its extraordinary community, they support their portfolio companies’ success at every inflection point, from inception to IPO and beyond. ICONIQ’s robust portfolio includes Adyen, Airbnb, Alibaba, Alteryx, Airtable, Automattic, BambooHR, Braze, Canva, Chime, Coupa, Databricks, Datadog, DeepL, ElevenLabs, Figma, Gitlab, Glean, Groww, Netskope, Procore, ServiceTitan, Sierra, Snowflake, Writer, Zoom and 1Password, among others. For more information visit https://www.iconiqcapital.com/growth

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