Accounting software startup Rillet valued at $1 billion

Rillet, a startup building AI-powered accounting software for businesses, raised $100 million at a $1 billion valuation. The round was led by ICONIQ, with earlier investors Andreessen Horowitz and Sequoia participating. Rillet launched publicly in 2024 and has now raised over $200 million total. It reports more than 600 customers and doubled its recurring revenue in three months, without disclosing exact figures.