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Rillet Raises $100M Series C at $1B Valuation to Scale AI-Native Finance Infrastructure
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Rillet has raised $100 million in Series C funding at a $1 billion valuation, led by ICONIQ, in its third financing round in 14 months.
The latest round brings Rillet's total funding to more than $200 million as the company accelerates the development and adoption of its AI-native ERP platform for modern finance organizations.
Rillet says the financing was completed in less than 48 hours after the company was not initially planning to raise capital.
Rapid Growth Drives New Funding
The financing comes amid significant growth for Rillet. The company says new annual recurring revenue doubled in the latest quarter, while its customer base surpassed 600 organizations, including public companies and enterprises generating more than $2 billion in revenue.
Usage of Rillet's AI agents is also growing at approximately 70% month over month, highlighting increasing adoption of AI-driven workflows within finance teams.
Rillet says customers are increasingly replacing legacy ERP platforms, including Oracle Fusion, SAP and Workday, as they modernize their finance infrastructure.
Building an AI-Native Finance Platform
Rillet is developing an AI-native ERP designed to make the ERP system itself an active part of the modern finance organization rather than simply a system of record.
The platform brings financial data, accounting policies and controls into a shared environment where finance teams and AI agents can work from the same continuously updated view of the business.
AI agents can increasingly perform complex financial tasks, while finance teams retain visibility, approval authority and a complete audit trail.
The company's positioning builds on its broader goal of replacing legacy finance infrastructure with a platform designed around real-time data, automation and AI from the ground up. Rillet describes itself as an AI-native ERP built by accountants and finance operators frustrated by the limitations of legacy systems.
Expanding Enterprise and Accounting Partnerships
Rillet is also expanding its ecosystem through partnerships with major professional services and accounting firms.
The company recently announced an alliance with EY, combining EY's finance transformation, technology consulting, risk and controls expertise with Rillet's AI-native ERP platform. The partnership is designed to help organizations modernize finance while embedding controls and audit readiness into the transformation process.
Rillet has also established partnerships across the accounting ecosystem, strengthening its ability to support companies transitioning from traditional ERP infrastructure to AI-native finance operations.
Scaling the Next Phase
The new funding will support Rillet's continued product development, AI capabilities and expansion as the company seeks to establish a new category of finance infrastructure.
The company's vision extends beyond automating individual accounting tasks. Rillet is positioning the ERP as the operating foundation where human finance teams and AI agents can collaborate using shared financial data, controls and workflows.
With more than $200 million raised to date and a $1 billion valuation, Rillet enters its next phase with growing enterprise adoption and an expanding ecosystem of technology and professional services partners.
About Rillet
Rillet is an AI-native ERP platform built for high-growth and global companies. The platform combines accounting, financial data, automation and AI-powered workflows to help finance teams operate with greater speed, visibility and control. Rillet's platform is designed to replace legacy finance infrastructure with real-time, AI-native capabilities.
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