Co-led by Andreessen Horowitz and ICONIQ, with participation from Sequoia, Oak HC/FT and earlier investors, this round comes just 10 weeks after Rillet announced a $25m Series A round from Sequoia, now bringing the company’s total funding raised under a year to over $100 million as it races to replace outdated systems like NetSuite and Intacct.

In conjunction with the new funding, Andreessen Horowitz General Partner, Alex Rampell and ICONIQ General Partner, Seth Pierrepont are joining the board.

Since launch, Rillet has signed over 200 customers and doubled its ARR over the past 12 weeks. The rapid growth has also resulted in strategic partnerships with many of the nation’s top accounting firms like Armanino (top 20) and Wiss (top 50).

The investment accelerates the company’s mission to rebuild enterprise accounting from the ground up, giving finance leaders the ability to scale multi-billion dollar companies with teams a fraction of the size.

“As US CEO of N26, I experienced firsthand how frustrating it was to wait weeks for critical business metrics,” said Nicolas Kopp, CEO and co-founder of Rillet. “My finance team was world-class, but simple requests took weeks because the systems were stuck in the past. I knew there had to be a better way.” 

That conviction led Kopp to partner with Stelios Modes, the technical architect behind N26’s payment infrastructure, to completely rethink what enterprise accounting could become.

The transformation they envisioned is now a reality. PostScript, a unicorn with over $100 million in ARR and global operations, closes its books in just three days using Rillet. Windsurf, one of the fastest-growing companies in recent memory, runs its entire finance operation with a lean team of two people.

Customers consistently report cutting their close times to just a few days while implementing Rillet as fast as 4 weeks vs the 12 months required in traditional systems.

Rillet’s breakthrough lies in how it redefines financial systems architecture. Legacy ERPs are, at their core, “limited databases”. They store transactions, but the real work happens in spreadsheets and bolt-on analytics tools.

Rillet flips that model. It starts with native integrations, which enable structured data to flow into their smart general ledger.

AI is then applied directly within the system, empowering finance teams to collaborate in real time, automate workflows natively and get insightful reporting the moment something happens, not days or weeks later.

Although accounting is the single biggest category in enterprise software –  a $500B+ global market that nearly every company on Earth depends on –  the space is dominated by incumbents owned by slow-moving conglomerates: NetSuite by Oracle, Intacct by Sage, Dynamics by Microsoft. Even more recent players like Acumatica are being folded into private equity portfolios. 

Rillet is a clean-slate rethink for this new era – built for speed, intelligence, and scale. And unlike those legacy platforms, Rillet is built by accountants.

Its Chief Product Officer is a former EY controller; the Head of Customer Success came from PwC; and the VP of Implementations is a CPA and former customer. This DNA shows up in every workflow, every implementation, and every customer result.

“Finance teams deserve the same AI advantages that have revolutionised sales, engineering, and legal,” said Alex Rampell, general partner at Andreessen Horowitz. 

While Seema Amble, Partner at Andreessen Horowitz added: “Rillet is delivering that transformation by rebuilding ERP infrastructure specifically for the AI era. We’re excited to support their vision as they scale to serve the next generation of high-growth companies.” 

“In our view, Rillet is not just modernising accounting software, it’s redefining what finance teams can achieve when freed from outdated systems,” said Seth Pierrepont, general partner at ICONIQ. 

“Their AI-native approach can give companies a clear edge: faster insights, leaner teams, and smarter decisions. We believe Rillet will become foundational infrastructure for the next generation of category-defining businesses.”

The timing here is critical. The accounting industry is facing a major talent crunch, with 75% of accountants expected to retire in the next 15 years. At the same time, 80% of routine financial operations could be automated according to Accenture. 

Rillet sits right at this crossroads, creating a new platform shift in how humans and AI work together in finance. The result is transformative: finance teams get more done with fewer people, while shifting their focus from manual grunt work to strategic analysis that actually moves the needle for their business.

Looking ahead, Rillet’s plan is to expand its AI capabilities and deepen integrations across the financial technology stack. The team’s ultimate vision extends far beyond automation; they’re building towards a collaborative platform where AI agents and human expertise work together to transform how businesses understand and manage their financial performance. 

“Our customers are building the companies that will define the next decade of business,” Kopp concluded. “We’re building the infrastructure that will take them there and redefine what’s possible when finance teams have truly modern tools.”

With several customers expected to go public on Rillet’s platform in the next 6-12 months, the company is set to prove that today’s most ambitious businesses can scale from startup to IPO on truly AI-native financial infrastructure – signaling the first major shift in years in how companies run, and win, with finance.

The post Rillet Raises $70M to Replace Legacy Accounting Software with AI ERP appeared first on Tech | Business | Economy.

Customers can now use AWS Marketplace to easily discover, buy, and deploy AI agentic solutions, including  Sage’s AI-powered financial management solution for SMBs, Sage Intacct, using their AWS accounts, accelerating agent and agentic workflow development.

Sage Intacct helps finance teams reduce manual workloads, accelerate the close, and make faster, insight-driven decisions. Powered by Sage Copilot, it automates key processes like reconciliation and reporting, freeing teams to focus on strategic priorities. 

With built-in industry-specific capabilities that simplify complex workflows and improve data accuracy, Sage Intacct helps organizations boost efficiency, reduce risk, and deliver high performance across finance operations.

“Our deep relationship with AWS is built on years of collaboration to deliver meaningful innovation for SMBs. By bringing Sage Intacct to this new Marketplace category, we’re making it easier than ever for finance teams to access intelligent automation, accelerate growth, and stay focused on the work that truly drives performance. 

“It streamlines how customers tap into powerful financial capabilities and deploy AI powered solutions quickly and efficiently. Teams are already using Sage Intacct to reduce friction, increase speed, and deliver sharper insights and stronger outcomes, demonstrating what high-performance finance looks like in practice,” said Amaya Souarez, EVP, Cloud Services & Operations, Sage.

Sage Intacct delivers essential capabilities including multi-entity consolidation, AI-powered anomaly detection, close automation, budget to variance analysis, help search, cash flow forecasting, and seamless integration with operational systems. 

These features help finance teams improve control and compliance, surface issues before they escalate, and maintain a real-time view of performance across the organization.

With the availability of AI Agents and Tools in AWS Marketplace, customers can significantly accelerate their procurement process to drive AI innovation, reducing the time needed for vendor evaluations and complex negotiations. 

With centralized purchasing using AWS accounts, customers maintain visibility and control over licensing, payments, and access through AWS.

The post Sage Intacct Launches on AWS Marketplace to Simplify AI-Driven Finance for SMBs appeared first on Tech | Business | Economy.