Three years ago, Nicolas Kopp as U.S. CEO of challenger bank N26, he had a front-row seat to the bottlenecks plaguing finance teams. “I experienced firsthand how frustrating it was to wait weeks for critical business metrics,” he recalled. “My finance team was world-class, but simple requests took weeks because the systems were stuck in the past.”
That pain point gave the idea for Rillet, an AI-native ERP platform built from scratch to serve modern finance teams. Today, the company announced a $70 million Series B round co-led by Andreessen Horowitz and ICONIQ Growth, with participation from Sequoia Capital, Oak HC/FT, and earlier investors. The raise comes just 10 weeks after its $25 million Series A, bringing Rillet’s total funding to more than $100 million in under a year.
As part of the latest round, Andreessen Horowitz General Partner Alex Rampell and ICONIQ General Partner Seth Pierrepont will join Rillet’s board of directors.
The momentum behind Rillet is not just investor hype. Since coming out of stealth last year, the company has signed more than 200 customers, doubled ARR in just 12 weeks, and formed strategic partnerships with top 50 accounting firms like Armanino and Wiss. Dozens of venture-backed startups, global SaaS companies, and fast-scaling AI businesses now rely on Rillet to run their financial operations end-to-end.
ERP, Rebuilt from First Principles
ERP software is one of the largest and most unloved categories in enterprise technology. While nearly every company depends on it to manage financials, the systems themselves remain stuck in the past. “Ten-plus days to close the books, armies of AR and AP specialists, and duct-taped workflows across Excel and point solutions,” said Kopp. “It’s no wonder finance leaders groan when asked about their ERP.”
Rillet’s approach was to start from scratch. At its core is a smart general ledger built on native integrations with key financial systems like billing, payroll, banking, procurement, CRM, and more. Structured data flows directly into the system, enabling real-time visibility and eliminating the delays and disjointedness of traditional ERPs.
From there, Rillet applies automation and AI natively within the platform. Instead of outsourcing automation to third-party tools, Rillet’s workflows are designed for collaboration between humans and AI agents. Bookkeeping, reconciliation, report generation, forecast modeling, and board deck creation, once manual and time-consuming are now streamlined and, in many cases, fully automated.
“We’re not putting AI on top of legacy software,” said Kopp. “We’ve re-architected the entire ERP model to make AI and automation the foundation.”
Designed by Accountants, Not Just Engineers
While Rillet’s architecture is modern, the team behind it is deeply rooted in finance. The company’s Chief Product Officer is a former EY controller. Its Head of Customer Success spent years at PwC. The VP of Implementations is a licensed CPA and former Rillet customer.
“This DNA shows up in every workflow,” said Kopp. “We’ve lived the pain our users feel. That empathy is baked into the product.”
That hands-on experience has also shaped Rillet’s onboarding model. Unlike traditional ERP deployments that take 12 to 18 months, customers can go live on Rillet in as little as four weeks. The company credits this to its modular product design and hands-on onboarding teams staffed with experienced accountants.
Real Results, Real Adoption
For customers, the numbers speak for themselves. Postscript, with over $100 million in ARR and global operations, uses Rillet to close its books in just three days. Windsurf, one of the most operationally efficient AI startups in the market, runs its entire finance stack with just two people on Rillet. The platform has also been adopted by high-profile names like Google and Cognition.
“Finance teams using Rillet are cutting their close times from 10+ days to just a few. And they’re doing it with leaner teams, more accurate reporting, and less manual effort,” said Rampell.
Unlike traditional systems of record that capture data but offer limited insights, Rillet is designed as a “system of action.” Its reporting layer surfaces real-time metrics, tracks performance against GAAP and non-GAAP targets, and lets CFOs drill down into trends or variances instantly.
“Executives don’t want to fiddle with prompts or rebuild reports from scratch,” Kopp explained. “They want a clean balance sheet, income statement, and cash flow view — always up-to-date, always accurate. We give them that out of the box.”
AI Where It Adds Value, Structure Where It’s Needed
Rillet’s vision of AI is pragmatic. Standardized reports are automated and templatized. More complex or custom metrics like non-GAAP ARR, cohort-adjusted margin, or one-off cash flow scenarios can be configured through a clean UI or natural language interface. These setups can then be saved as recurring workflows, reviewed by a human, and used for consistent monthly reporting.
“There’s a myth that AI should replace everything,” said Kopp. “But in finance, you want repeatability and control. You need both automation and human oversight especially when it comes to strategic decisions.”
For that reason, Rillet’s architecture combines the best of both: LLM-powered workflows for interpreting ambiguous data and customizable pipelines that maintain accuracy over time.
A Category Ready for Reinvention
Investors backing Rillet believe the timing couldn’t be better. ERP remains one of the most under-innovated sectors in enterprise software. It’s also one of the largest. According to internal estimates, the ERP software and services market exceeds $500 billion globally, with hundreds of millions spent annually on manual data entry, slow close processes, and fragmented reporting infrastructure.
“ERP is overdue for a rethink,” said Seema Amble, partner at Andreessen Horowitz. “The emergence of enterprise-grade AI, combined with CFOs being pushed to do more with leaner teams, is forcing companies to look for better tools. Rillet is the first ERP we’ve seen that’s actually built for this moment.”
Pierrepont from ICONIQ echoed the sentiment: “Rillet isn’t just modernizing accounting software. It’s giving finance teams an edge. Faster insights. Smaller teams. Smarter decisions. We think it will become foundational infrastructure for the next generation of category-defining businesses.”
What Comes Next
Looking ahead, Rillet plans to double down on product development and go-to-market expansion. The company will invest heavily in building new features, onboarding larger customers, and supporting finance teams as they scale.
“We’re going to keep focusing on the mid-market,” Kopp said. “But with the traction we’re seeing and the strength of our balance sheet, we’re ready to start going upmarket and winning larger logos too.”
The team also plans to deepen its AI capabilities and expand integrations across the broader financial tech stack including procurement, banking, tax, and payroll systems. The goal, Kopp said, is not just to automate tasks, but to build a collaborative platform where AI agents and finance professionals work side by side to drive real business outcomes.
“Our customers are building the companies that will define the next decade of business,” he added. “We’re building the infrastructure that will take them there.”
