Rillet Raises $25M to Cut Financial Close Time from Weeks to Hours

Rillet, an AI-native enterprise resource planning (ERP) platform, announced that it has raised $25 million in Series A funding led by Sequoia Capital. The round comes just 10 months after the company’s previous fundraise and includes participation from existing investors First Round Capital, Creandum, and Susa Ventures, along with notable angel investors including former NetSuite CFO Ron Gill and former Twilio CFO Lee Kirkpatrick.

The San Francisco-based startup is tackling one of enterprise software’s most entrenched problems: outdated financial systems that prevent companies from fully leveraging artificial intelligence. Many accounting teams today still rely on legacy ERP systems and tools dating back to the 1990s, including products like NetSuite that have become slow, manual, and bloated through years of customization.

Rebuilding Financial Infrastructure 

Rather than attempting to modernize existing systems, Rillet has taken the ambitious approach of rebuilding the general ledger entirely. The platform integrates directly with modern business tools including Salesforce, Stripe, Ramp, Brex, and Rippling, while deploying AI agents to automate critical accounting workflows spanning accruals, reconciliation, and board reporting.

“We’re a team of accountants building for accountants. This means everything from the reports to the workflows is tailor-built for the challenges CFOs and controllers deal with on a daily basis,” said Nicolas Kopp, CEO and co-founder of Rillet.

The company’s approach addresses a fundamental challenge in AI adoption: the need for clean, accurate data from a single source of truth. Legacy systems often contain fragmented, inconsistent information that limits AI effectiveness, while Rillet’s rebuilt architecture is designed specifically to support AI-driven automation.

Transforming Financial Operations Speed

Rillet’s value proposition centers on dramatically accelerating financial close processes. The platform enables customers to close their books in hours rather than the weeks typically required with traditional systems, providing fully reconciled financial data in real time. This acceleration allows finance leaders to see business performance immediately rather than waiting weeks after month-end, enabling faster strategic decision-making.

The efficiency gains also allow accounting teams to shift focus from manual tasks to higher-value strategic work, potentially reducing headcount needs while improving output quality.

Sequoia’s Strategic Investment

Julien Bek, the Sequoia partner who led the firm’s investment in Rillet, emphasized the complexity of reimagining enterprise financial infrastructure. “ERP is one of the largest software categories, yet it has remained virtually untouched for the last decade because reimagining the financial backbone of a business is incredibly complex,” Bek said. “Nicolas has brought together a world-class team to tackle this challenge, combining deep domain expertise with AI-native technology to rebuild the foundation of the CFO suite.”

Sequoia’s involvement is particularly significant given the firm’s track record with category-defining fintech companies including Stripe and Block. The firm’s several ex-CFO investing partners bring relevant domain expertise to the partnership.

“Rillet has rethought the general ledger to automate accounting with real-time integrations and AI-driven workflows, allowing finance teams to work smarter and businesses to scale faster. This modern approach helps CFOs capture the full value of AI, and, ultimately, positions Rillet as the system of record for the next generation of finance teams,” added Roelof Botha, Managing Partner at Sequoia and former PayPal CFO.

Rapid Growth and Customer Adoption

Since launching in 2024, Rillet has demonstrated strong market traction with revenue growing five-fold year-over-year. The platform now processes billions of dollars in transactions and serves nearly 200 customers, including fast-growing companies like Windsurf, Decagon, and Postscript.

Customer testimonials suggest the platform is particularly well-suited for high-growth companies with complex financial needs. “Rillet feels like it was tailor built for Windsurf and our complex accounting needs. We have a unique blend of products and revenue models and are growing at lightning speed; Rillet handles all of it effortlessly,” said Adam Strouss, VP of Finance at Windsurf, one of the fastest-growing AI companies.

Future Development Plans

The new funding will enable Rillet to accelerate AI development within its platform while expanding go-to-market and customer support functions. The company appears positioned to capitalize on growing demand for AI-enabled financial systems as more enterprises seek to modernize their back-office operations.

The ERP market represents one of enterprise software’s largest categories, with established players like Oracle NetSuite, SAP, and Microsoft Dynamics holding dominant positions. However, the rise of AI and cloud-native architectures has created an opening for startups to challenge incumbents with purpose-built solutions.

Rillet’s approach of rebuilding rather than retrofitting legacy systems could provide sustainable competitive advantages, though the company will need to overcome the typical challenges of selling mission-critical enterprise software and displacing entrenched systems.