Nicolas Kopp’s frustration with outdated finance systems led to the creation of Rillet, an AI-native ERP platform for modernizing companies’ bookkeeping. Rillet secured $70 million in Series B funding, bringing total funding to over $100 million in less than a year. The platform aims to revolutionize enterprise accounting with faster insights and leaner teams.

Rillet has signed over 200 customers, doubling its annual recurring revenue in the last 12 weeks. Partnerships with top accounting firms like Armanino and Wiss have been formed. Clients like Postscript close their books in just three days using Rillet, while Windsurf manages its finance operation with a team of two.

Rillet integrates with tools like Salesforce, Stripe, and Brex, offering real-time collaboration and automation of workflows. The company aims to address the challenges of retiring CPAs and automate routine financial operations. Rillet plans to expand its AI capabilities and deepen integrations in the financial technology stack.

The American Institute of Certified Public Accountants reports that 75% of public accounting CPAs are expected to retire in the next 15 years. Accenture estimates that 80% of financial operations could be automated. Rillet aims to operate with fewer people, focusing on strategic analysis rather than manual processes.

Looking ahead, Rillet plans to enhance its AI capabilities, deepen integrations in the financial technology stack, and build a collaborative environment for AI agents and human experts. Several customers are expected to go public within the next six to 12 months using Rillet’s platform.

Read more at Yahoo Finance: Rillet Raises $70M From Andreessen Horowitz To Replace ‘Dumb Databases’ With AI Accounting That Closes Books In Hours