Rillet Raises $100 Million Series C at $1 Billion Valuation to Build AI-Native Finance Infrastructure

Rillet, an AI-native enterprise resource planning (ERP) platform for finance teams, has raised $100 million in Series C funding at a $1 billion valuation, as the company moves to expand its vision for AI-powered, real-time accounting.

The round was led by ICONIQ, with participation from existing and new investors including Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners and Creandum.

The latest investment represents Rillet’s third funding round in the past year and takes its total funding to more than $200 million.

Rillet Targets the Next Generation of AI-Powered Finance

Rillet says the new funding will accelerate its mission to build an agentic operating layer for finance, where finance professionals and AI agents can work together using the same financial data, accounting controls and workflows.

Unlike traditional ERP systems that primarily serve as systems of record, Rillet is positioning its platform as an active environment for financial operations.

The platform combines a real-time general ledger, native integrations, continuous close capabilities and AI agents. As a result, finance teams can automate increasingly complex tasks while retaining oversight, approval authority and audit trails.

This approach reflects a broader shift in enterprise software. Companies are increasingly looking beyond AI tools that simply sit on top of existing systems. Instead, they want AI to work directly within the systems that hold critical business data.

Funding Follows Rapid Customer Growth

Rillet’s latest funding comes after a period of rapid expansion.

According to the company, new annual recurring revenue (ARR) doubled over the previous three months. Rillet now serves more than 600 customers, including publicly listed companies and rapidly growing AI businesses.

The company initially focused heavily on technology and AI companies. It is now expanding into sectors such as biotech, healthcare, fintech, logistics and professional services.

Rillet also says businesses are replacing legacy platforms, including Oracle Fusion, SAP, Workday, Microsoft Great Plains and NetSuite, with its finance platform.

AI Agents Move Directly Into the General Ledger

At the heart of Rillet’s strategy is the idea that AI agents should operate within the accounting system rather than simply access it from the outside.

The company says its platform allows structured financial data to flow through native integrations into a real-time general ledger. AI agents can then work with that information while following accounting policies and controls.

Finance teams remain responsible for important decisions and approvals. Meanwhile, every action can be tracked through an audit trail.

This model could allow companies to automate more financial processes while maintaining the controls required by modern finance organizations.

Rillet CEO and co-founder Nicolas Kopp described the company’s vision as a shift from the ERP being a passive system of record to becoming an operating layer for financial work.

Customers Highlight the Agentic Finance Model

Rillet points to customer adoption as evidence of how its approach can change finance operations.

The company says finance teams at businesses such as Mercor are using Rillet’s AI agents to support rapid growth with comparatively small finance teams.

According to Rillet, Mercor has scaled beyond $2 billion in ARR with a finance team of three, illustrating the potential impact of automating repetitive and complex accounting workflows.

The company argues that this type of operating model could become increasingly important as businesses scale and finance teams face pressure to deliver faster reporting and greater efficiency.

ICONIQ Backs Rillet’s AI-Native ERP Strategy

For ICONIQ, Rillet’s technology represents a broader opportunity in enterprise finance infrastructure.

Seth Pierrepont, General Partner at ICONIQ and a new Rillet board member, said the company stands out because customers are already using the platform to operate businesses with significantly smaller finance teams and continuously close their books.

The investment gives Rillet additional capital to expand its technology and customer base as competition increases in AI-powered enterprise software.

Accounting Firms Become Part of Rillet’s Growth Strategy

Rillet is also working to build relationships with accounting firms that support large businesses.

Earlier in 2026, Rillet and Ernst & Young launched an alliance focused on finance transformation. The company also says it is an official partner of more than half of the Accounting Today Top 20 CPA firms.

These relationships could help Rillet expand its reach as accounting firms increasingly advise clients on automation, AI and modern finance infrastructure.

What the Rillet Funding Means for Fintech and Enterprise Finance

Rillet’s $100 million Series C highlights a growing investment theme: AI is moving deeper into core financial infrastructure.

Traditional ERP platforms have historically focused on recording transactions and maintaining financial data. New AI-native platforms are attempting to go further by allowing software agents to perform parts of the financial work itself.

That could change how businesses approach accounting, reconciliation, reporting and financial operations.

However, automation alone is not enough for financial systems. Companies still need strong controls, transparency, security and auditability. Rillet’s strategy is therefore built around combining AI automation with human oversight.

With a $1 billion valuation and more than $200 million in total funding, Rillet now has significant backing to pursue its vision of agentic finance.

About Rillet

Rillet is an AI-native ERP platform designed for modern finance teams. Its technology combines a real-time general ledger, continuous close capabilities and AI agents to help businesses manage financial operations with greater automation, context and control.

The company says its customers include Mercor, Function Health and Temporal, while its accounting-firm partnerships support its expansion across the enterprise finance market.

Editorial note: The funding figures, valuation, customer numbers and business claims in this article are based primarily on Rillet’s August 17, 2026 announcement provided in the source material.

Rillet raises $100M Series C at $1B valuation to build Accounting Superintelligence

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