AI accounting startup Rillet raises $70 million in Andreessen Horowitz-led round

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Rillet, a startup developing AI-powered accounting software, has raised $70 million in a fundraise co-led by venture capital firms Andreessen Horowitz and Iconiq in a bid to disrupt an industry dominated by tools from Oracle and Microsoft.

The company did not disclose the valuation it secured in the Series B funding round. A source close to the deal said the startup was valued at around $500 million.

The round was joined by Sequoia, Oak HC/FT and FOG Ventures, the company said on Wednesday, and comes just over two months after Rillet raised $25…



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AI accounting startup Rillet raises $70 million in Andreessen Horowitz-led round



Rillet, a startup developing AI-powered accounting software, has raised $70 million in a fundraise co-led by venture capital firms Andreessen Horowitz and Iconiq in a bid to disrupt an industry dominated by tools from Oracle and Microsoft.

The company did not disclose the valuation it secured in the Series B funding round. A source close to the deal said the startup was valued at around $500 million.

The round was joined by Sequoia, Oak HC/FT and FOG Ventures, the company said on Wednesday, and comes just over two months after Rillet raised $25…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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