Rillet raises $100M Series C at $1B valuation led by Iconiq

August 20, 2026 at 01:12 AM2 min

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AI accounting startup Rillet raised a $100 million Series C at a $1 billion valuation on Tuesday, led by Iconiq with returning investors Andreessen Horowitz and Sequoia. The round lifts total funding above $200 million as Rillet reports more than 600 customers and a doubling of annual recurring revenue in the past three months. CEO Nicolas Kopp said the financing came together in less than 48 hours even though the company had not planned to raise.

Key Facts

Rillet raised $100 million in a Series C round at a $1 billion valuation, led by Iconiq with returning investors Andreessen Horowitz and Sequoia.
Rillet reports more than 600 companies as customers and says it doubled annual recurring revenue in the past three months.
CEO Nicolas Kopp said the Series C came together in less than 48 hours and that the company had not planned to raise.
Rillet previously raised a $70 million Series B led by ICONIQ and Andreessen Horowitz and a $25 million Series A led by Sequoia, bringing total funding above $200 million.
Rillet formed an alliance with EY, which Kopp cited as one reason investor interest grew since the last round.

The Series C Round

Rillet announced a $100 million Series C at a $1 billion valuation on Tuesday, led by Iconiq. Returning investors Andreessen Horowitz and Sequoia participated in the round. CEO Nicolas Kopp said the round came together in less than 48 hours and that the company had not planned to raise. Seth Pierpont, general partner at ICONIQ, said the general ledger could become "the operating system for finance" and that this vision is now reality. The company previously raised a $70 million Series B led by ICONIQ and Andreessen Horowitz and a $25 million Series A led by Sequoia, bringing total funding above $200 million.

Customers, Revenue and Investor Interest

Rillet's software automatically pulls data from sources such as Salesforce or Brex to help finance professionals manage company books. The company reports more than 600 companies as customers and says it doubled annual recurring revenue in the past three months. Rillet formed an alliance with EY, which CEO Nicolas Kopp cited as one reason interest grew since its last round. The company emerged from stealth in 2024 and operates in the enterprise resource planning industry. The round adds to investor activity in AI startups targeting legacy SaaS providers such as NetSuite.