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A year is a long time in AI. When we co-led Rillet's Series B last summer, we saw a promising platform with striking customer evangelism, deep user empathy, and an ambitious vision: rebuild the ERP from the ground up as an AI-native system, so the general ledger could automate the close rather than simply record it.
Twelve months later, we have seen that nearly every dimension of that vision has compounded, and our conviction has only strengthened. Rillet is no longer a promising challenger but a platform that hundreds of finance teams are choosing over long-standing incumbents
As Rillet has emerged as a market-leading AI-native ERP, we are thrilled to be deepening our partnership with Rillet by leading the company’s $100M Series C.
Customer advocacy has been central to Rillet from day one, and we believe it remains one of the company's clearest differentiators. Over the past year Rillet has moved decisively upmarket, winning head-to-head evaluations against mid-market platforms such as NetSuite and Sage, as well as enterprise ERPs including Oracle Fusion and Workday. By automating core workflows across accounting, Rillet is enabling teams to do more with less.
Rillet now serves more than 600 companies across 60 countries, including Neuralink, Mercor, Sotheby’s, LangChain, and Skild AI, alongside established mid-market businesses across a growing range of industries and public companies. As its customer base has broadened, the enthusiasm we hear for Rillet has only grown louder, from the seamless implementation and deep expertise of the team, to clear ROI on time saved. Customers like Mercor are scaling past $2B of ARR with a finance team of three.
Rillet is growing rapidly, with ARR doubling in just the past quarter, and the company has matched that commercial momentum with a partner ecosystem to support it, entering a global alliance with EY, KPMG, and half of the top 30 accounting firms in the United States. Notably, several of these firms are now building implementation practices around Rillet’s platform.
What excites us most, though, is what has happened to the product itself. When we initially invested, Rillet was just beginning to move beyond the general ledger, with agents for accruals, audit preparation, and anomaly detection. Those capabilities have since evolved into Aura, a full platform of purpose-built agents that customers can use out of the box or customize themselves across any workflow, from collections and accruals to audit and flux analysis to board reporting and close management. Rillet has moved from automating discrete tasks to building the harness for the modern finance organization: one environment where humans and agents share the same financial truth, with agents taking on the repetitive, high-volume work and accountants keeping the judgement calls - every action auditable. Adoption of these agentic workflows has followed quickly, a sign that the AI is solving real problems rather than sitting on top of the product as a check-the-box feature.
Building an accounting engine at this level of complexity, particularly at the enterprise level, is hard, and Rillet's edge has come from relentless product focus. The team has deepened enterprise capabilities, extended integrations across the finance stack, and advanced an ambitious AI roadmap without compromising the reliability and trust that finance teams demand, which is a balance that we rarely see.
None of this happens without the team. From our first meeting with Nic, it was clear to us he was a customer-obsessed, deeply product-driven founder who would run through walls for Rillet. Watching him and the Rillet team turn that energy into execution over the past year has been remarkable, as has their success in adding exceptional leaders along the way, including Tina Ding from Vanta as VP of Engineering and Shankar Vellal from Stripe as VP of Product. What we have observed most consistently is a company that refuses to settle: built by accountants, for accountants, with deep rigor, a fast pace of innovation, and a bar for quality that runs through everyone and everything they do.
Rillet set out to rebuild one of the most consequential and deeply entrenched software systems in the enterprise. Over the past year, the team has demonstrated what many have spent decades trying to prove: that the general ledger can be more than a system of record, and can instead become the harness for the modern finance organization. We believe Rillet is helping define what the finance stack will look like in the AI era, and we are proud to deepen our partnership with Nic and the entire team as they continue to build the category-defining AI-native ERP for modern finance.
Published:
August 18, 2026
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