TechCrunch's Aug 21 Follow-Up on Rillet: $100M Series C Closed in 48 Hours for an AI-Native General Ledger Aimed at NetSuite and SAP

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TechCrunch published a second piece on Aug 21 detailing how Rillet's $100M Series C at a $1B valuation, led by ICONIQ with Sequoia reinvesting and a16z on the cap table, came together within 48 hours of a board meeting the company had not called to raise money. Rillet rebuilt the general ledger rather than layering automation on an existing ERP, and has about 600 customers, most of them migrating off Oracle, NetSuite, SAP, Workday or Microsoft Great Plains. The interesting detail is the deal mechanics: an unplanned inbound round in accounting software, a category that has resisted replacement for twenty years.