Rillet's $70M Funding Round: AI-Native ERP for Modern Finance

In a significant move for the fintech industry, Rillet, a pioneering AI-native ERP platform, has secured a massive $70 million in Series B funding. Led by Andreessen Horowitz and ICONIQ Growth, with participation from Sequoia and other investors, this round comes just 10 weeks after a $25 million Series A, bringing Rillet's total funding to over $100 million in under a year. This rapid growth reflects the company's impressive traction, boasting over 200 clients and a doubling of Annual Recurring Revenue (ARR) in the past 12 weeks. Rillet is disrupting the accounting world by offering a modern alternative to outdated legacy systems. Built by accountants, for accountants, the platform empowers finance leaders to manage multinational corporations with significantly smaller teams. Clients like PostScript and Windsurf are already experiencing the benefits, slashing their close times to just three days. This efficiency is driven by Rillet's AI-powered architecture, enabling real-time reporting and automated workflows. The platform's unique design and deep accounting expertise offer tailored solutions designed to meet the evolving demands of today's financial landscape. This substantial investment underscores the growing demand for AI-driven solutions in enterprise resource planning (ERP) and promises to further accelerate Rillet's mission to modernize financial management globally.