Rillet

Rillet has raised over $100M from Sequoia, a16z, and ICONIQ (per the firm's website). This investor base combines early-stage technology conviction with growth-stage and crossover capital, suggesting a long-term bet on replacing legacy ERP infrastructure. ICONIQ's participation also links Rillet to a network of high-growth technology companies, providing a potential distribution channel among CFOs in that ecosystem.

Rillet applies ASC 606 treatment automatically and directly from contracts, rather than relying on standalone modules that require manual reconciliation with the general ledger. The system parses contract terms, obligations, and timing, and the resulting revenue schedules are natively tied to the GL — removing a major source of spreadsheet work during the close.

Rillet replaces the core general ledger and its surrounding close-management spreadsheets, shifting teams away from systems like NetSuite, Sage Intacct, or QuickBooks. It also absorbs work typically handled by separate billing and revenue-recognition tools, consolidating multiple data sources into one system with native integrations to the rest of the stack.

The platform is purpose-built for scaling companies, including public companies with over $1B in ARR that have outgrown entry-level or mid-market ERPs. Its multi-entity, multi-currency architecture supports global consolidations, while its handling of subscription, usage-based, and hybrid revenue models makes it particularly suited to SaaS and technology businesses.

Rillet claims go-live in weeks with a CPA-led implementation team, contrasting with the months-long, consultant-heavy cycles common to NetSuite or SAP deployments. The company cites native integrations to a company's existing stack, meaning the ledger connects directly to billing, payment, and CRM systems without custom scripting during migration (per the firm's website).

Rillet has established partnerships with EY, KPMG, and RSM. These relationships position the ERP within the audit and advisory channels that directly influence CFO software decisions, creating a distribution path that bypasses traditional IT-led procurement cycles and lands with the accounting function.

AI agents within Rillet are responsible for specific, bounded accounting tasks — such as generating ASC 606 analysis or extracting structured data from contracts — rather than operating as an open-ended chatbot. The system applies accounting logic first and surfaces results only after reconciling against the ledger, and every entry is traceable to source with a full permission and change log.