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AI ERP platform Rillet raises 70 million dollars in Series B funding round

According to PANews, the native enterprise resource management (ERP) platform Rillet has successfully raised 70 million dollars in a Series B funding round. The investments were led by Andreessen Horowitz and ICONIQ, with participation from Sequoia and Oak HC/FT. This latest funding brings Rillet's total funding to over 100 million dollars for the year. Founded by a former N26 executive, Rillet already serves over 200 clients. Over the past 12 weeks, the company's annual recurring revenue (ARR) has doubled. Rillet collaborates with accounting firms such as Armanino and Wiss to reduce the closing cycle to just a few days through native integration and built-in AI solutions.