Rillet, a two-year-old startup building what it calls the first truly AI-native accounting platform, has raised a $100 million Series C at a $1 billion valuation, the company told Fortune exclusively—joining the ranks of AI-era unicorns racing to unseat decades-old enterprise software giants.
The round, led by Iconiq with participation from returning backers Sequoia Capital, Andreessen Horowitz, and Oak HC/FT, plus new investors including Bain Capital Ventures, Sequoia Global Equities, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum, marks Rillet’s third fundraise in the past year and pushes its total funding past $200 million. Iconiq general partner Seth Pierrepont is joining Rillet’s board as well.
