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.
Rillet raises $70M to replace 20th-century accounting software with AI-native ERP built by accountants
Posted in Commentary with tags Rillet on August 6, 2025 by itnerdAmbitious 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.
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