AI accounting startup Rillet completes $100 million Series C funding at a valuation of $1 billion

AI-native accounting platform Rillet announced the completion of a $100 million Series C financing, with a valuation of $1 billion. This round was led by ICONIQ, with follow-on investments from existing shareholders such as Sequoia Capital, Andreessen Horowitz, and Oak HC/FT, and new investors including Bain Capital Ventures and Battery Ventures. The company's total financing has exceeded $200 million.

Rillet positions itself as the first truly AI-native accounting platform, focusing on replacing traditional manual accounting processes with AI Agents, capable of processing hundreds of operations in parallel and generating complete audit trails. It has currently served over 600 clients, including leading AI companies such as Neuralink and Mercor, with about 40% of clients coming from outside the technology sector.