Enterprise accounting software has remained largely unchanged for two decades. Legacy systems from NetSuite, Oracle, and SAP still treat financial data as static records, forcing finance teams to manually transfer figures between spreadsheets and chase approvals each month. That process consumes weeks before books can be closed.
Rillet, a startup founded by former N26 chief executive Nicolas Kopp and Stelios Modes, has raised $100 million to replace that model with what it calls accounting superintelligence. The Series C round was led by ICONIQ Growth with participation from existing investors Bain Capital Ventures, Scale Venture Partners, Sequoia Capital, and Andreessen Horowitz. The funding brings total capital raised to more than $200 million across three rounds in twelve months and values the company at $1 billion.
Unlike competitors that layer artificial intelligence onto aging database architectures, Rillet rebuilt the enterprise resource planning stack from the ground up. Its platform centers on a real-time general ledger that structures company data directly within the system. On this foundation, AI agents handle high-volume tasks such as invoice matching, revenue recognition, and continuous closing cycles. Human accountants focus on judgment, approvals, and compliance.
The approach has attracted more than 600 enterprise customers, including Function Health, Mercor, and Neuralink. Mercor manages over $2 billion in annual recurring revenue with a finance team of just three people using Rillet, a level of efficiency the company says is impossible on legacy ERP platforms. Distribution partnerships with Ernst & Young and more than half of the top 20 U.S. accounting firms provide a pathway into traditional enterprises still running on older systems.
With the new capital, Rillet is expanding beyond technology companies into sectors with complex accounting requirements, including healthcare, biotechnology, financial technology, and logistics. The objective is not simply faster processing but eliminating the lag between business events and their reflection in financial records. When decisions and data stay synchronized, chief financial officers can operate in real time rather than reacting to last month’s numbers.
The company is betting that continuous, agent-driven finance managed by small, specialized human teams will replace the previous generation of enterprise software.
