ICONIQ Leads Rillet's $1 Billion Funding Round

Rillet has secured a significant funding round led by ICONIQ at a valuation of $1 billion, with notable participation from Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum.

This marks Rillet's third round in the last year and brings its total funding to over $200 million. Rillet, an AI-native ERP designed for agentic finance, integrates real-time general ledger, continuous close architecture, and AI agents into a single system.

This allows for collaborative finance management by humans and agents, ensuring complete context, controls, and auditability. Notable companies such as Mercor, Function Health, and Temporal are among those leveraging Rillet's platform. The company has also established partnerships with leading accounting firms and initiated an alliance with EY in 2026.