AI accounting startup Rillet raises $100 million at $1 billion valuation

AI accounting startup Rillet raised $100 million in a Series C round and reached a $1 billion valuation, making it a unicorn just two years after emerging from stealth. The company says rapid revenue growth and a recent board meeting helped trigger the fundraise, which was led by ICONIQ with backing from investors including Sequoia and Andreessen Horowitz. The deal highlights continued investor appetite for AI tools aimed at automating finance and accounting work for businesses.