Rillet, an AI-native ERP platform for finance teams, closed a $100 million Series C at a $1 billion valuation, led by ICONIQ with participation from Sequoia, Andreessen Horowitz, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum. This is Rillet's third fundraise in 14 months, bringing total funding to over $200 million. The company emerged from stealth in 2024 and is rapidly displacing legacy ERPs (Oracle Fusion, SAP, Workday, NetSuite) by treating the general ledger as an operating system for agentic finance rather than just a system of record.
Rillet has doubled new ARR in the past three months and now serves 600+ customers including public companies and enterprises with $2B+ ARR. Customers like Mercor run finance operations with just three people using Rillet's AI agents. The platform vertically integrates real-time general ledger + continuous close architecture + AI agents in a single system, enabling humans and agents to work together with shared financial data, consistent accounting policies, full audit trails, and human approval gates. Rillet has also partnered with EY and is an official partner to half of the Accounting Today top 20 CPA firms. Agents are growing at 70% month-over-month, indicating rapid adoption of agentic workflows within existing customers.
For CFOs and finance operations teams: Rillet represents a shift from reporting-period batching to real-time, agentic finance. If you're running month-end close on legacy ERPs, the $100M raise and EY partnership signal that agentic close cycles are becoming table-stakes for enterprise finance. The 70% agent MoM growth and customer wins like Mercor suggest the market is taking agentic finance seriously. Key questions: cost per close, whether agent workflows reduce FTE requirements sustainably, and whether the compliance/audit trail model holds under production regulatory scrutiny.