Rillet, an AI-native ERP platform for finance teams, has raised $100 million in a Series C round led by ICONIQ at a $1 billion valuation. The company has now raised more than $200 million in total funding as it builds AI agents directly into the general ledger.
The round includes participation from Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum. It's Rillet's third funding round in the past year.
Rillet says it doubled new annual recurring revenue in the last three months and now serves more than 600 customers, including publicly listed companies. The platform initially focused on tech and AI companies but is expanding into biotech, healthcare, fintech, logistics, and professional services, where customers are replacing Oracle Fusion, SAP, Workday, Microsoft Great Plains, and NetSuite.
Agents working inside the ledger
Rillet's pitch is that legacy ERPs store transactions while the actual work happens in spreadsheets and bolt-on tools. The company instead integrates the stack vertically: structured data flows through native integrations into a real-time general ledger, and AI agents operate directly in that ledger with full context, an audit trail, and human approval where needed.
"For the last two decades, the ERP has been treated as a system of record, a place to store what already happened. In the AI era, it has to become the operating layer for what happens next. Finance agents need more than access to data; they need to work inside the general ledger," said Nicolas Kopp, CEO and co-founder of Rillet. "Rillet is building that harness: one environment where humans and agents share the same financial truth, have a division of labor, and maintain with complete control and auditability. The result is real-time accounting."
The company cites Mercor as a customer example: its finance team works with Rillet's agents to scale past $2 billion in annual recurring revenue with a team of just three people.
Backing from investors and accounting firms
Seth Pierrepont, General Partner at ICONIQ and new Rillet board member, said the firm's conviction comes from how customers actually use the platform. "In our view, Rillet is the clear market leader in AI-native accounting infrastructure. What stands out to us is how customers actually run on it - multi-billion-dollar businesses operating with finance teams a fraction of the traditional size, closing their books continuously."
Rillet has also built relationships with the accounting profession. It launched an alliance with Ernst & Young for finance transformation earlier in 2026 and is an official partner with more than half of the Accounting Today top 20 CPA firms.
Why this matters for finance professionals
For finance teams, the shift here is concrete: the ERP is moving from a record-keeping system to a place where work actually happens. That changes which skills matter. Finance professionals who understand how to supervise AI agents, set controls, and review audit trails will be in a different position than those who focus only on traditional transaction processing. If you work in accounting or finance operations, the practical takeaway is to start building familiarity with how AI agents handle ledger work - and what oversight looks like when machines do the posting. An AI Learning Path for Accountants can help with the fundamentals, while broader AI for Finance resources cover how these tools apply across financial operations.
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