Rillet
“Can an AI-native ERP displace legacy accounting software (NetSuite, Sage) as the financial system of record for high-growth SaaS and tech companies?”
Founded2021
HQPalo Alto, California, USA
FoundersNicolas Kopp
Total raised$108.5M+
Latest roundSeries B, August 2025
Valuation~$500M (2025)
IndustryHorizontal SaaS / Accounting
The story
Founded in 2021 by Nicolas Kopp (ex-N26 U.S. CEO), Rillet launched as accounting software specifically designed for SaaS companies seeking to automate revenue recognition and close management. The company repositioned itself as an 'AI-native ERP' — a broader category play competing with legacy ERPs like NetSuite — targeting CFOs and finance teams at high-growth companies. By 2025, rapid fundraising from top-tier VCs (Sequoia, a16z, ICONIQ) and an Ernst & Young alliance signaled a move upmarket from pure SaaS accounting into a full ERP replacement story powered by AI automation.
Last 12 months
Product timeline
2021
Founded by Nicolas Kopp (former U.S. CEO of N26) as modern accounting software focused on SaaS companies.· pivot
2023
Integrated Finch to unlock 40 payroll system integrations in under a week, eliminating manual payroll data uploads for accountants.· banking
2025
Raised $25M Series A from Sequoia Capital to accelerate AI-native ERP development.· ipo
2025
Raised $70M Series B co-led by Andreessen Horowitz and ICONIQ, bringing total funding to over $108.5M.· ipo
2025
Announced strategic alliance with Ernst & Young, signaling enterprise go-to-market expansion.· acquisition
The stack
Accounting gap: none