Rillet announced a $100 million Series C at a $1 billion valuation on Tuesday, led by Iconiq, with returning investors Andreessen Horowitz and Sequoia. The AI‑native accounting startup emerged from stealth in 2024 and is quickly becoming one of the hottest players in the enterprise resource planning (ERP) industry.

Its platform uses AI to continuously pull data from sources like Salesforce or Brex, helping finance professionals manage a company’s books. Rillet says it now serves over 600 customers and has doubled its ARR in the past three months.

Co‑founder and CEO Nicolas Kopp noted the round came together in less than 48 hours, driven by recent milestones such as an alliance with EY and rapid growth. Iconiq general partner Seth Pierrepont said the vision of turning the general ledger into a finance operating system is now reality.

Rillet previously raised a $70 million Series B and a $25 million Series A, totaling over $200 million. The speed of this round reflects investor fever for AI startups poised to disrupt legacy SaaS ERP providers like NetSuite.