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2w ago

Rillet Raises $70 Million Series B to Accelerate AI-Powered Accounting

The $70 million boost pushes total funding above $100 million, bringing two new board members to steer an engineering expansion

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AI startup Rillet secures $70M Series B led by a16z, ICONIQ to transform enterprise accounting

Overview

  • Rillet closed a $70 million Series B round co-led by Andreessen Horowitz and ICONIQ, with participation from Sequoia, Oak HC/FT and FOG Ventures.
  • Andreessen Horowitz’s Alex Rampell and ICONIQ’s Seth Pierrepont joined Rillet’s board as part of the funding round.
  • The startup more than doubled its annual recurring revenue over the past 12 weeks and now serves over 200 customers, including Windsurf and Postscript.
  • This latest infusion brings Rillet’s total capital raised to over $100 million since its May Series A.
  • Rillet plans to use the new funds to accelerate development of its AI-driven platform and expand its engineering team.