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.
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.
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.
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.
Guest Post- Turning Social Engineering Crises into Cybersecurity Lessons: Effective Crisis Management Strategies
Posted in Commentary with tags KnowBe4 on August 6, 2025 by itnerdBy Erich Kron, Security Awareness Advocate at KnowBe4
Social Engineering Day brings the perfect opportunity to discuss why organizations must prioritize awareness and preparedness in the face of the growing threat of social engineering. Social engineering is the use of emotional manipulation to execute a cyberattack. Threat actors will often prey on the emotions of their victims, especially fear, making this tactic highly effective.
For example, KnowBe4’s March 2025 Phishing Threat Trends report revealed that phishing emails increased 17.3% over a six-month period, highlighting the critical need for awareness and preparation. The increase shows this tactic remains a preferred method for cybercriminals, especially as they continually improve their tactics. For this reason, organizations must proactively prepare for possible social engineering crises.
Understanding Social Engineering
Social engineering attackers are skilled at exploiting human vulnerabilities, such as trust and urgency, to gain unauthorized access to organizational systems. Often, threat actors will impersonate internal departments like HR or IT. According to the same report, nearly 49% of top-clicked phishing links originate from email addresses pretending to be these departments.
Likewise, ransomware phishing attacks, such as the notorious LockBit ransomware delivered via phishing, increased 22.6% within just a six-month period. Meanwhile, high-profile attacks using AI-driven polymorphic phishing techniques now represent 92% of all attacks, highlighting the increased sophistication of social engineering hackers.
The North Korean Fake Employee Problem
Social engineering attackers have become so sophisticated that a new phenomenon has crept into the U.S. hiring market. North Koreans have started to pose as U.S. job candidates to infiltrate companies for financial gain, espionage and other nefarious activities. They use fake resumes, AI-manipulated headshots and stolen Social Security numbers to get hired as part of their scheme. In fact, many have been hired in companies across the U.S., going undetected for an extended period of time.
Social engineering comes in many forms, and this is one recent example of how manipulation can be utilized in unique ways for cybercrime activities. These are the types of situations that we can learn from and use as an opportunity to educate others about the risks of social engineering.
Proactive Measures and a Crisis Response Framework
All organizations are at risk of social engineering attacks. To effectively prepare, they must develop a detailed crisis response framework outlining an action plan for how they will react in the case of attempted and successful social engineering attacks.
Essential proactive measures include:
In the event of a successful social engineering attack, it is just as important for organizations to have a reactive plan. Essential crisis response measures include:
Lessons for Organizations
In the case of successful social engineering attacks, leadership visibility and proactive communication are crucial for maintaining organizational credibility. By implementing continuous employee education on how to recognize and respond to social engineering attacks, organizations significantly decrease the likelihood of actually being hit by one of these attacks.
Likewise, public education builds broader trust and reinforces organizational resilience. If the majority of people become knowledgeable about the risk of social engineering, hackers employing this method will face greater challenges when taking advantage of these human vulnerabilities.
National Social Engineering Day may be here, but it is essential for organizations to prioritize social engineering awareness and crisis management strategies throughout the entire year. Social engineering may not disappear anytime soon, but through proactive and reactive preparedness, organizations and individuals can become well-equipped to handle any potential crisis.
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