Rillet reaches unicorn status with $1B valuation after Series C funding

Two years old. One billion dollars. Those numbers describe Rillet, an AI-native accounting platform that just closed a $100 million Series C round at a $1B valuation, adding its name to the growing list of enterprise software startups that have quietly become unicorns while the rest of the market was watching crypto and consumer AI. The round was led by ICONIQ, with returning investors Sequoia Capital, Andreessen Horowitz, and Oak HC/FT writing more checks alongside new backers including Bain Capital Ventures, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum. ICONIQ general partner Seth Pierrepont, who was already on the board, stays put. Three rounds in about twelve months This is Rillet’s third fundraise in roughly a year, a cadence that signals something beyond early-stage momentum. The company previously raised a $25 million Series A led by Sequoia, then a $70 million Series B in August 2025. Total funding now sits north of $200 million. The company was founded by Nicolas Kopp, who previously ran US operations at German digital bank N26. That background matters: N26 was one of the more ambitious neobank bets of the last decade, and running its American expansio...