Rillet achieved $70 million in funding through a venture led by Andreessen Horowitz and ICONIQ which established the company’s value at $500 million according to a source. The funding round received participation from Sequoia and Oak HC/FT and FOG Ventures which brought the total investment above $100 million.
Rillet was established by former N26 U.S. chief Nicolas Kopp who developed a platform that automates accounting operations and connects with Salesforce and Stripe and Brex systems to help finance teams finish book closings within hours instead of weeks. The company reports its revenue has doubled during the last 12 weeks while serving more than 200 customers including Windsurf and Postscript.
The company plans to use its funding to speed up product development and engineer recruitment. The board of Rillet will welcome new members through the addition of Andreessen Horowitz’s Alex Rampell and ICONIQ’s Seth Pierrepont.
