"Tech Finance" with Sasha Orloff: B2B Fintech | AI | Finance Tech E48: Why Sequoia Invested $25M in Accounting Software with Rillet CEO Nicolas Kopp
How Rillet Is Revolutionizing Accounting with AI and a Modern GL
Rillet is building an AI-native ERP for mid-market companies, focusing on creating a modern General Ledger (GL) from the ground up. This approach solves the problem of legacy accounting systems that rely on outdated, aggregated, and often low-quality data, which hampers automation and accurate reporting.
The key insight is that clean accounting data is crucial for automation and advanced AI applications, enabling faster and more accurate financial processes like a zero-day close. Nicolas Kopp explains that owning the GL allows Rillet to build features like deferred revenue and revenue recognition more easily, reducing the need for multiple legacy integrations.
Rillet's technology enables companies with $100M+ ARR to operate their entire accounting and finance stack with just two or three people, dramatically reducing team size and complexity. This shift is further accelerated by AI improvements that amplify the value of clean, well-structured data.
Owning the GL Drives Innovation
- NetSuite and similar systems lose data granularity due to aggregation and exports.
- Owning the GL data syntax allows faster feature development and better data control.
AI Amplifies Clean Data Value
- Pre-AI era focus: clean, integrated accounting data boosts CFO capabilities tenfold.
- AI amplifies this, making data cleanliness even more impactful for automation and insights.