![\"\"](\"https:\/\/genesisekucalenimedia.com\/edn\/wp-content\/uploads\/2025\/08\/KNQN4SSDJJM63BFM73UWTDV2GM-300x204.jpg\")
<\/p>\nRillet, a startup developing AI-powered accounting software, has raised $70 million in a fundraise co-led by venture capital firms Andreessen Horowitz and ICONIQ in a bid to disrupt an industry dominated by tools from Oracle and Microsoft.<\/p>\n
The company did not disclose the valuation it secured in the Series B funding round. A source close to the deal said the startup was valued at around $500 million.<\/p>\n
The round was joined by Sequoia, Oak HC\/FT and FOG Ventures, the company said on Wednesday, and comes just over two months after Rillet raised $25 million, bringing its total funding to more than $100 million.<\/p>\n
Founded by Nicolas Kopp, former U.S. head of digital bank N26, Rillet makes AI-powered ledger software that helps companies automate accounting tasks.<\/p>\n
Its more than 200 customers include AI-assisted coding tool Windsurf and e-commerce marketing platform Postscript.<\/p>\n
Rillet said its platform allows finance teams to close books in hours rather than weeks thanks to integrations with systems from companies such as Salesforce, Stripe and Brex.<\/p>\n
<\/p>\n
Kopp told Reuters in an interview the startup aims to replace legacy systems that function as “dumb databases” by offering a platform that pulls in data directly and uses AI to automate tasks and deliver real-time insights.<\/p>\n
The efforts have helped the startup double its annual recurring revenue over the past 12 months and led to tie-ups with accounting firms such as Armanino and Wiss.<\/p>\n
Rillet plans to use the funds to speed up development of the platform and build out its team, including by hiring more engineers.<\/p>\n
Andreessen Horowitz general partner Alex Rampell and ICONIQ general partner Seth Pierrepont are joining the company’s board as part of the fundraise.<\/p>\n","protected":false},"excerpt":{"rendered":"Rillet, a startup developing AI-powered accounting software, has raised $70 million in a fundraise co-led by venture capital…","protected":false},"author":1,"featured_media":1036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[21,22,25,27,44,30],"tags":[49,50,56,58],"class_list":["post-1031","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-eswatini-daily-news","category-national","category-taiwan","category-tech","category-world","tag-human-interest","tag-international","tag-markets","tag-national","cs-entry","cs-video-wrap"],"yoast_head":"\n<\/div><\/strong><\/p>\n