Rillet hits unicorn status with $100 million Series C

The company’s software automates ledger management by continuously pulling financial data from platforms like Salesforce and Brex. This rapid scaling has attracted over 600 corporate customers, with the firm reporting a doubling of annual recurring revenue over the last three months. Co-founder and CEO Nicolas Kopp noted that the funding round was not originally planned, but materialized quickly following a strategic alliance with EY and surging market demand.

Seth Pierpont, a General Partner at ICONIQ, described the transition of the company’s general ledger from a static system of record into an active operating system for finance. This latest round brings Rillet’s total funding to more than $200 million, following a $70 million Series B and a $25 million Series A. As the startup targets legacy incumbents like NetSuite, the deal underscores a broader trend of venture capital pouring into AI-driven enterprise tools despite cooling sentiment in other corners of the SaaS market.