Rillet Secures $100M as AI-Native ERP Platform Hits $1B Valuation
aiinsider ·
Rillet, a San Francisco-based developer of AI-native enterprise resource planning infrastructure, has raised $100 million in a Series C round led by ICONIQ, giving it a $1 billion valuation. The investment brings Rillet's total funding to over $200 million, with participation from Sequoia, Andreessen Horowitz, Bain Capital Ventures, and other firms. The company positions its platform as an AI-driven alternative to legacy ERP systems like Oracle Fusion, SAP, Workday, and NetSuite. Its software integrates structured financial data into a real-time general ledger, enabling AI agents to handle complex financial tasks while human teams retain approval authority. Rillet reports over 600 customers and says new annual recurring revenue has doubled in the past three months. Early adopters include AI firm Mercor, which reportedly manages $2 billion in annual recurring revenue with a three-person finance team. The company is expanding into biotech, healthcare, fintech, logistics, and professional services, and has formed an alliance with Ernst & Young. CEO Nicolas Kopp argues that modern ERP systems must become an operating layer for AI finance agents, not just a static record system.
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