Rillet, an AI-native ERP (enterprise resource planning) platform, announced $25 million in Series A funding led by Sequoia Capital. This funding round includes existing investors First Round Capital, Creandum, Susa Ventures and top angels, such as former NetSuite CFO, Ron Gill and Lee Kirkpatrick, former Twilio CFO.
Value proposition: Many accounting teams are still relying on legacy ERP systems and tools from the 1990s, which hinder their ability to leverage AI fully. Products like NetSuite are slow, outdated, highly manual, and often bloated and complex from extensive customization. Full utilization of AI requires a single source of truth with clean, accurate data. Rillet has rebuilt the general ledger to redefine the ERP for the AI age. And the platform integrates directly with best-in-class tools, including Salesforce, Stripe, Ramp, Brex and Rippling. Rillet AI agents then automate key accounting workflows from accruals to reconciliation to board reporting and more.
What Rillet does: Rillet empowers customers to close their books in hours rather than weeks, providing fully reconciled financial data in real-time to enable faster and better decision-making. Leaders no longer need to wait weeks after the month ends to see how the business is performing. This means that leaner, more efficient accounting teams can then focus on higher leverage, more strategic work.
Since launching in 2024, Rillet has seen incredible traction, with revenue growing five times year-over-year and the platform processing billions of transactions. Nearly 200 customers, including fast-growing companies like Windsurf, Decagon, and Postscript, have implemented Rillet to transform their accounting processes.
How the funding will be used: This new funding and support from Sequoia will enable Rillet to further accelerate the development and deployment of AI within the platform, enabling them to expand their go-to-market and customer support functions.
KEY QUOTES:
“We’re a team of accountants building for accountants. This means everything from the reports to the workflows is tailor-built for the challenges CFOs and controllers deal with on a daily basis.”
Rillet CEO and founder, Nicolas Kopp
“ERP is one of the largest software categories, yet it has remained virtually untouched for the last decade because reimagining the financial backbone of a business is incredibly complex. Nicolas has brought together a world-class team to tackle this challenge, combining deep domain expertise with AI-native technology to rebuild the foundation of the CFO suite.”
Julien Bek, the Sequoia partner who led the firm’s partnership with Rillet
“Rillet has rethought the general ledger to automate accounting with real-time integrations and AI-driven workflows, allowing finance teams to work smarter and businesses to scale faster. This modern approach helps CFOs capture the full value of AI, and, ultimately, positions Rillet as the system of record for the next generation of finance teams.”
Roelof Botha, managing partner at Sequoia and prior CFO of PayPal
“Rillet feels like it was tailor built for Windsurf and our complex accounting needs. We have a unique blend of products and revenue models and are growing at lightning speed; Rillet handles all of it effortlessly.”
Windsurf VP of Finance, Adam Strouss
