Aug 6, 08:27 AM

A16z and ICONIQ Inject $70 Million Into AI Accounting Firm Rillet

AI-driven accounting software provider Rillet has secured a $70 million Series B round co-led by Andreessen Horowitz and ICONIQ Capital, bringing its total funding to more than $100 million just three months after a Sequoia-led Series A. A person familiar with the deal said the San Francisco-based company was valued at roughly $500 million. Founded by former N26 US chief Nicolas Kopp, Rillet offers an AI-native general ledger that integrates with services such as Salesforce, Stripe and Brex. The platform lets finance teams close their books in hours instead of weeks and has attracted more than 200 customers. Rillet says annual recurring revenue has doubled in the past 12 weeks. The fresh capital will be used to speed product development and expand hiring; a16z’s Alex Rampell and ICONIQ’s Seth Pierrepont are joining the board. The financing underscores continuing investor appetite for enterprise AI tools. Earlier in the week, legal-tech startup August — founded by Columbia University alumni to serve midsize law firms — raised a $7 million seed round led by New Enterprise Associates and Pear VC, with participation from several U.S. law schools and OpenAI engineering director David Azose.

#Rillet #Andreessen Horowitz #ICONIQ Capital #Sequoia #San Francisco #N26 #Nicolas Kopp #Salesforce #Stripe #Brex #Alex Rampell #ICONIQ #Seth Pierrepont #Columbia University #New Enterprise Associates #Pear VC #OpenAI #David Azose

Written with ChatGPT .

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