Rillet Secures $25M to Modernize Financial Systems

Rillet, a New York-based startup building an AI-native general ledger, has raised $25 million in a Series A round led by Sequoia Capital. Founded in 2021 by Nicolas KoppDealroom has a profile for this one. Try Dealroom → and Stelios ModesDealroom has a profile for this one. Try Dealroom →, the company aims to modernize financial infrastructure for startups and mid-market businesses by replacing outdated ERP systems with a more automated, data-driven alternative. Rillet’s platform integrates with tools such as Salesforce, Stripe, and Ramp, enabling accounting teams to automate tasks like accruals, reconciliations, and board reporting while maintaining a real-time, centralized view of financial data.
At the core of Rillet’s offering is a reimagined general ledger built specifically for automation and interoperability. The platform uses AI agents not only to streamline workflows but also to identify anomalies, assist with compliance, and enhance financial accuracy. This allows finance teams to close books in a matter of hours, rather than weeks, and shift focus toward higher-value strategic functions. By addressing the limitations of legacy accounting systems, Rillet provides companies with faster insights and greater adaptability in dynamic business environments.
Since launching, the company has reported 5x year-over-year revenue growth and now supports nearly 200 customers, with billions of dollars in transactions processed on the platform. The new funding will be used to expand product capabilities, enhance AI features, and grow customer support and go-to-market teams. Rillet’s long-term goal is to expand beyond the general ledger and offer a broader financial platform suited to the needs of modern, fast-growing companies.

Source: TechCrunch

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