AI Accounting Startup Rillet Reaches Unicorn Status with $100M Series C

Rillet, a startup building an AI "accounting superintelligence" platform, has closed a $100 million Series C led by ICONIQ with participation from a16z and Sequoia, pushing its valuation above $1 billion. The company said its annual recurring revenue has doubled in three months, it serves more than 600 business customers, and it has partnered with Ernst & Young. Rillet's raise is part of a broad wave of capital flowing into AI tools that automate finance and back-office work, an area investors view as a fast path from technology to real revenue.