Rillet is excited to announce the successful raising of $13.5M in funding, led by First Round Capital (Uber, Square, Notion, Looker) and Creandum (Spotify, Klarna), alongside Susa Ventures (Robinhood). This round also saw participation from notable individual investors such as Kevin Hartz (founder of Eventbrite, Xoom, and investor in SpaceX, Airbnb, Palantir), the former Chief Accounting Officer of Facebook and Stripe, and the Controller at Ramp.

Accounting Platforms Are Falling Behind

Current accounting platforms are creating more work for an already shrinking accounting workforce. High-growth companies are trapped using outdated software like QuickBooks, designed for small businesses, or NetSuite, built for large corporations. Both options leave finance teams bogged down with manual spreadsheet tasks. The situation is worsened by the departure of 300,000 accountants from the profession in the last two years.

Rillet's Dashboard: A Game-Changer for High-Growth Companies

Rillet is the first modern ERP designed to automate accounting for high-growth companies. By integrating with payment processors and CRMs, Rillet simplifies the complex revenue side of startup accounting. The platform can automate workflows from invoicing to closing the books and running investor reports. It even supports automation across multiple entities, geographies, and currencies, providing a unified view with a single login.

Advancing Towards a Zero-Day Close

Rillet's mission is to achieve a zero-day close, enabling companies to make informed decisions based on real-time financial data. Currently serving SaaS and usage-based revenue businesses, Rillet plans to use the new funding to enhance its product and expand support to new verticals, including e-commerce and fintech.