Rillet Raises $100 Million in Series C Funding at a $1 Billion Valuation to Build AI-Native ERP for Finance
Rillet, an AI-powered enterprise resource planning (ERP) platform built for modern finance teams, has raised $100 million in a Series C funding round at a $1 billion valuation. The round was led by ICONIQ, with participation from Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum.
The latest investment marks Rillet’s third funding round in approximately a year, taking its total funding to more than $200 million. The company’s growth has accelerated alongside rising demand for AI-native financial software. Rillet reported that its new annual recurring revenue (ARR) doubled in the three months leading up to the announcement.
Rillet currently serves more than 600 customers, ranging from publicly traded companies to fast-growing AI businesses. After gaining traction among technology companies, the startup is expanding into industries such as biotechnology, healthcare, fintech, logistics, and professional services. Its platform is also attracting larger enterprises looking for alternatives to established ERP and accounting systems from Oracle, SAP, Workday, Microsoft, and NetSuite.
The new funding will support Rillet’s ambition to build an agentic operating layer for finance, where human professionals and AI agents work together within a single financial system. The platform enables both people and AI agents to use the same financial data, follow consistent accounting rules and controls, and operate with a continuously updated view of the business.
Unlike traditional ERP systems, which primarily record historical transactions, Rillet is designed to enable AI agents to execute financial tasks directly within the accounting infrastructure. Its platform combines native integrations, a real-time general ledger, contextual financial data, and built-in audit trails. Human employees retain oversight and approval authority for actions that require their involvement.
The company argues that many legacy ERP platforms rely heavily on spreadsheets and disconnected applications to handle day-to-day financial processes. Similarly, some newer AI solutions layer agents onto systems that were not originally designed for autonomous execution. Rillet aims to address this limitation by integrating AI capabilities directly into its core architecture.
Nicolas Kopp, CEO and co-founder of Rillet, said ERP systems have traditionally focused on recording what has already happened. In the AI era, he believes these systems must evolve to help businesses determine and execute what happens next. According to Kopp, finance agents need more than access to information; they need to operate within the general ledger, where financial context, controls, and accountability are maintained.
Customer adoption offers an indication of the platform’s potential. At companies such as Mercor, finance teams of just three people have used Rillet’s AI agents to support businesses exceeding $2 billion in annual recurring revenue. The approach is intended to help companies scale their financial operations without proportionally increasing headcount.
Seth Pierrepont, a general partner at ICONIQ who will join Rillet’s board, described the company as a provider of AI-native accounting infrastructure. He highlighted the potential for large organizations to operate with leaner finance teams and move toward continuous financial reporting rather than relying solely on traditional month-end closing processes.
Rillet is also expanding its presence through partnerships with accounting firms. Earlier in 2026, the company established a finance transformation partnership with Ernst & Young and reported official collaborations with more than half of the top 20 CPA firms ranked by Accounting Today.
Looking ahead, Kopp expects agentic, real-time finance operations to become increasingly common over the next two to three years. With its latest funding, Rillet plans to strengthen the infrastructure needed to support this transition, positioning its platform as a central system where financial data, human decision-making, and AI-driven execution come together.
As enterprises increasingly adopt AI to automate complex business processes, Rillet is betting that the next generation of ERP software will do more than manage financial records, it will actively help run finance operations.