Rillet secured 70 million USD in Series B funding, co-led by a16z and ICONIQ, significantly enhancing its investment after raising 25 million USD in Series A. This brings their total funding to over 100 million USD within a year.
Since its inception, Rillet has acquired over 200 customers and recently doubled its annual recurring revenue. This growth underscores its appeal as a transformative force in accounting.
With a looming talent shortage in accounting, Rillet aims to automate 80% of routine financial tasks. The company’s AI-driven approach is expected to redefine efficient operations and support finance teams effectively.
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