Rillet Secures $100 Million in Series C Funding Led by ICONIQ

Rillet's Latest Funding Round

Rillet, a company trusted by top finance teams for real-time reporting and business progression, has successfully raised $100 million in its Series C funding round. This financing round, which took place on August 18, 2026, was led by ICONIQ and saw participation from notable investors including Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum.

Company Overview

Based in San Francisco, California, Rillet specializes in AI-native enterprise resource planning (ERP) solutions. The company is known for its innovative approach to integrating AI agents with finance teams, allowing for more efficient financial operations.

Leadership

Rillet was founded by Nicolas Kopp, who serves as CEO, and Stelios Modes, the company's CTO. Together, they have guided Rillet to a $1 billion valuation, with a customer base that has grown to over 600 companies. "Our mission is to transform the way finance teams operate by providing them with advanced tools that streamline complex financial tasks," said Nicolas Kopp.

Use of Funds

The newly acquired funds will be directed towards expanding Rillet's agentic finance platform. This platform is designed to enhance collaboration between finance professionals and AI agents, leveraging the same accounting data, policies, and controls. The company aims to further develop its "Accounting Superintelligence," which allows AI agents to perform complex financial tasks directly within a real-time general ledger.

Market Growth and Expansion

Rillet has seen rapid commercial growth, with new annual recurring revenue doubling in the last three months. Initially focused on technology and AI sectors, Rillet is now expanding into biotechnology, healthcare, fintech, logistics, and professional services. Their platform is being adopted by both publicly traded companies and fast-growing tech businesses, replacing legacy ERP systems such as Oracle Fusion, SAP, Workday, Microsoft Great Plains, and NetSuite.