AI accounting platform Rillet raised $100 million at a $1 billion valuation and became a unicorn within about 48 hours of a board meeting, according to its co-founder, TechCrunch reported on August 21.
The speed reflects an investor market where strong growth in vertical AI categories, here accounting, can attract rounds quickly. It also reflects scarcity of the kind of AI revenue growth investors are willing to pay for.
Source: TechCrunch