Rillet Hit a $1B Valuation on a $100M Series C for an AI-Native General Ledger Aimed at NetSuite, SAP and Oracle
Fortune (corroborated by TechFundingNews and TNW, Aug 19)·high signal
ICONIQ led a $100M Series C announced Aug 18, Rillet's third raise in 14 months, taking total funding past $200M with Sequoia, a16z, Oak HC/FT returning and Bain Capital Ventures, Battery, FirstMark, Scale and Creandum joining. Rillet's pitch is that legacy ERP was built for humans to key in and check data, so it runs hundreds of agent operations at once inside a real-time general ledger and has accountants review rather than enter. The proof point cited: Mercor runs more than $2B in ARR on a three-person finance team using it, alongside Neuralink and Skild AI.