Rillet, a New York-based automation-first accounting ERP for high-growth companies, has raised $13.5 million in funding.
Investors
The round was led by First Round Capital, Creandum (Spotify, Klarna), and Susa Ventures (Robinhood), with participation from notable individual investors, including 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.
Founded in 2004, First Round Capital is a venture capital investment firm based in San Francisco, California. The firm prefers to invest in seed-stage, early-stage, and later-stage companies.
Creandum is a European early-stage venture capital firm based in Stockholm, Sweden. The firm supports early-stage founders in building global, category-defining companies from seed to IPO and beyond. The firm has additional offices in Berlin, London, and San Francisco.
Susa Ventures is an early-stage venture capital firm, investing in a growing family of dreamers and builders. The firm prefers to invest in early-stage companies operating in the enterprise software, finance technology, healthcare, consumer technology, logistics, and frontier technology sectors.
Rillet Use of Funds
The company will use the funding to grow its team, enhance the platform further, and expand its support to new verticals, including e-commerce and fintech.
About Rillet
Founded in 2023 by Nicolas Kopp and Stelios Modes, Rillet is a modern ERP that automates accounting tasks such as invoicing, closing the books, and investor reporting. It supports automation across multiple entities, geographies, and currencies, providing a single view and login for international operations. Their mission is to make a zero-day close reality for everyone, enabling companies to make decisions based on drillable, real-time financial information. Rillet is currently working with customers across SaaS and usage-based revenue businesses. The company is currently working with over 70 customers across SaaS and usage-based revenue businesses.
Funding Details
Company: Rillet
Raised: $13.5M
Round: Unknown
Funding Month: July 2024
Lead Investors: First Round Capital
Additional Investors: Creandum, Susa Ventures, Kevin Hartz
Company website: https://www.rillet.com/
Software Category: Accounting
Source: https://www.prnewswire.com/news-releases/rillet-raises-13-5m-to-build-the-modern-accounting-platform-that-makes-zero-day-close-a-reality-302208527.html