Rillet announces $100M Series C Fundraise: What it means for you.

Today, Rillet, the AI-Native ERP platform, announced a $100M Series C round of funding, led by ICONIQ, with participation from Sequoia Capital and Andreessen Horowitz, among others. This is a big milestone on their journey to rebuild ERP for modern finance teams.

Here’s how we see this affecting current and potential Rillet customers:

Current Rillet customers get a better product and a deeper network.

We expect Rillet to put many of those dollars to work in their product and engineering teams. Their roadmap of features, benefits, and customer-facing outcomes will be well-staffed and prioritized. This shouldn’t be surprising, but it is out-of-the-ordinary in the ERP space.

The product improves faster than the price.

Across the ERP landscape, most price-to-value ratios work against you. Every year, your annual renewal increases about 10% (sometimes more), but the product roughly stays the same. Rillet does the opposite. They ship 20+ features per month, while price stays relatively consistent. Their new feature development will only accelerate. For current customers, this means more value at a great price.

One area we’ll be eying is Aura AI. Already, Aura saves significant time for Rillet customers. Aura is like a digital staff accountant. You can query on demand, build and schedule tasks (using agents), and use AI to close your books fast. We’re curious to see where this AI engine will go next.

Deeper, denser connections across the finance community

As a customer, you’ve hopefully already heard of Rillet’s Close Club. It’s a private, vetted community for finance leaders focused on AI. A new fundraise means more members. More peers to connect with who’ve potentially solved the thing you’re stuck on. More local meetups in a major city near you.

This year, the Raiz team met up in-person with Rillet customers and the community across NYC, SF, and Chicago. It’s truly a special, best-in-class group of leaders.

For potential Rillet customers, this fundraise de-risks the AI-native ERP decision.

ERP software is mission-critical. Some executives have been reasonably hesitant to implement a solution as novel as Rillet. Why risk your general ledger with a startup? We’d argue that these market leading VC investors’ due diligence, their investment, and Rillet’s 500+ customers are good reasons to trust the product.

$100M is a healthy signal for the question, “Will Rillet be here in five years?”

With this round of investment, Rillet is the first AI-native ERP to achieve unicorn status ($1B+ valuation). This is impressive, and Forbes predicted it two weeks ago.

What's more important is the combination of this funding and their rapid customer and ARR growth. Rillet may not need to raise again to keep operating successfully (if they do, it will be to scale faster). And the firms putting money in - ICONIQ, Sequoia Capital, Andreessen Horowitz - were already on the cap table before this round. These are the investors with the deepest view into retention and unit economics, and they chose to double down.

“Playing it safe” isn’t as safe as it used to be in ERP.

Sort of like “No one gets fired for hiring IBM,” no one is getting fired for implementing NetSuite. However, that logic is more at risk than ever. Oracle recently laid off 30,000 people to free up cash for AI data centers. Those cuts hit applications and SaaS operations, the teams that maintain NetSuite. Conversely, Rillet is investing in their team, product, and service of ERP customers. In 5-10 years, which product will you be glad you chose?

If you don’t see your firm or industry well-represented today, it might not be that far away.

As a disciplined software business, Rillet has been deliberate about who it serves, and what their platform does and doesn’t do. Admittedly, there are several industries and geographies it doesn’t serve well…yet. Your’s could be next. The Rillet team operated in stealth for ~18 months before launching. It’s possible they’re working on your industry now.

There’s never been a better time to double-down or seriously consider Rillet as your next ERP. Investors and customers have both spoken: Rillet is doing things right for the future of ERP.

Congratulations to Nicolas Kopp and the entire team on this incredible achievement.

About Raiz

Raiz is a Rillet dedicated reseller and implementation partner, and our CEO sits on Rillet's partner advisory board. We know Rillet and ERP implementations inside and out. For a fixed fee, we get you live on-platform in weeks, not the months a standard ERP implementation takes. If you're seriously considering AI-native ERP, we'd love to start a conversation.

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