Rillet brings agentic ERP to UK after $100m raise and unicorn status

The AI-native accounting platform, backed by Sequoia and a16z, opens in London as agentic finance tools challenge SAP and Oracle's ERP dominance.

By Disrupts Editorial Team Sat, 14 November 2026 AI level 2 of 5

AI level 2 of 5: drafted by our AI editorial assistant from the company's announcement; fact-checked, edited and signed off by Mark Walker, Editorial Director. What the levels mean

A bright, sterile data center corridor extends into the distance, flanked by rows of server cabinets with glass doors revealing numerous blinking status lights under bright fluorescent ceiling panels and exposed cable trays.

Rillet, the US-based agentic enterprise resource planning (ERP) platform, has opened its first international office in London, targeting European finance teams still running on legacy accounting infrastructure. The move follows a $100 million Series C closed in August 2026 at a $1 billion valuation, led by ICONIQ Growth with Sequoia Capital and Andreessen Horowitz participating, bringing total funding to $200 million. The company says European customers were already generating 10% of its net new annual recurring revenue before any local team was in place.

The expansion puts Rillet in direct competition with ERP incumbents SAP, Oracle, and NetSuite across the UK and broader EMEA region. Where those platforms bolt AI features onto legacy general ledger architectures, Rillet says its system is built around AI agents from the ground up, allowing autonomous processes and human finance teams to operate within a single, auditable environment. The platform reports nearly 1,000 customers across 75 countries, including publicly listed enterprises and fast-growing AI-native firms such as Black Forest Labs and Temporal.

Agentic finance meets the CFO's compliance burden

The convergence angle here is specific. As agentic AI systems move from productivity experiments into regulated business workflows, the finance function is emerging as an early proving ground. Accounting carries strict auditability and controls requirements, which paradoxically make it a more tractable domain for AI agents than less structured workflows: every action must be logged, every number reconciled. Rillet's architecture, which the company describes as a continuous-close general ledger with AI agents embedded at the system level rather than layered on top, is a direct response to that compliance constraint.

Dave Arkell, CFO at Black Forest Labs, explained the choice in terms that go beyond feature checklists: "Our tech stack needs to have AI at its core and that extends beyond features like MCP connectivity. We need AI that's built into the architecture, with reliable data that we can both act on and interact with."

The company also brings a network of professional-services relationships that could accelerate UK and European adoption. Its ecosystem includes a strategic alliance with EY, a partnership with RSM, and relationships with more than half of the Accounting Today top-20 CPA firms in the United States. Many of those firms already operate across the UK and Europe, giving Rillet a credibility path that pure-play SaaS entrants typically lack in regulated markets.

Capital and competitive landscape

The broader ERP disruption story is a capital-allocation signal worth noting. Rillet's round is part of a wider reallocation of late-stage venture and growth equity into AI-native vertical software, particularly in categories where incumbents carry significant technical debt. SAP's market capitalisation sits north of €200 billion, and Oracle's cloud ERP business reported double-digit revenue growth in its last fiscal year, yet both are fielding criticism from CFOs of fast-scaling companies who say the platforms were designed for a different era of finance operations.

For cross-sector investors, the relevant read-across is not simply fintech disruption. Agentic ERP platforms sit at the intersection of AI infrastructure spend, enterprise software consolidation, and the growing regulatory demand for auditability in automated decision-making. The EU AI Act's provisions on high-risk automated systems in financial services add a compliance layer that could favour incumbents in the short term but structurally advantage purpose-built, auditable platforms over the medium term. Rillet's London base, and CEO Nicolas Kopp's LSE accounting background and City experience, positions the company to engage that regulatory conversation directly.

The company says international net new ARR more than tripled month over month in recent quarters, though the base from which that growth is measured is not disclosed. A UK team is now hiring across sales, customer success, and operations functions.