Rillet Raises $100 Million, Hits Unicorn Valuation

Rillet develops an AI-native enterprise resource planning platform designed to automate accounting work and give finance teams a continuously updated view of company data. Launched publicly in 2024, the startup is targeting a market long dominated by established vendors including Oracle and SAP. Its rapid ascent underscores investor appetite for artificial intelligence companies capable of challenging entrenched enterprise software providers.

Rillet announced on Aug. 19, 2026, that it raised $100 million in a Series C led by ICONIQ, valuing the company at $1 billion. Sequoia Capital, Andreessen Horowitz and other investors joined the round, which was Rillet’s third fundraising in 14 months and lifted total capital raised above $200 million. The company said it now serves more than 600 customers and doubled new annual recurring revenue during the latest quarter.