Rillet Secures $25M from Sequoia Capital to Revolutionize General Ledger Automation with AI

In a groundbreaking development for the accounting industry, Rillet, an AI-native ERP (Enterprise Resource Planning) platform, has raised $25 million in a Series A funding round led by Sequoia Capital. Announced on May 28, 2025, this investment marks a significant milestone for the company, which aims to transform financial operations for mid-market businesses. The funding comes just 10 months after Rillet's previous raise, showcasing strong investor confidence.

Rillet's innovative platform automates the creation of financial statements such as balance sheets and income statements by directly pulling data from customers' banks and other platforms. This eliminates manual data entry, reduces errors, and saves valuable time for finance teams. The company has already become a trusted system of record for next-generation businesses like Windsurf, Decagon, and Postscript.

The funding round also saw participation from existing investors such as First Round Capital, Creandum, and Susa Ventures, along with prominent angel investors including former NetSuite CFO Ron Gill and former Twilio CFO Lee Kirkpatrick. This diverse backing highlights the industry's belief in Rillet's potential to disrupt traditional accounting software with AI-driven solutions.

General ledger systems are the backbone of any accounting department, acting as the central hub for all financial transactions. Rillet's technology promises to streamline these processes, making them more efficient and accessible for mid-sized companies that often lack the resources of larger enterprises. The platform's focus on automation addresses a critical pain point in the industry.

With this fresh capital, Rillet plans to further enhance its AI capabilities and expand its reach within the mid-market segment. The company aims to empower more businesses to modernize their financial operations, positioning itself as a leader in the evolving landscape of accounting technology.

As AI continues to reshape various industries, Rillet's success signals a growing trend of tech-driven innovation in finance. The company's journey will be one to watch as it competes to redefine how businesses manage their financial data in an increasingly digital world.