Evergreen, a holding company of technology services businesses, announced with their ERP vertical today of their first-ever incubation of an AI-native ERP VAR. Partnered with Rillet, who raised $100M from Andreesen Horowitz and Sequoia, they plan to help mid-market businesses move off legacy systems and towards the future of Finance.
Raiz is Rillet's first VAR partner, helping customers close their books in days not weeks
SAN FRANCISCO, April 10, 2026 /PRNewswire-PRWeb/ -- Evergreen's Pine Services Group, a dedicated, vertically-focused holding company specializing in enterprise resource planning (ERP) service partners and global business application companies, today announced its first ever incubation of an AI-focused business, Raiz, a fast-growing AI-native ERP value-added reseller (VAR) and consulting firm.
Raiz, founded in 2025 by Pine, is the first-of-its-kind Rillet‑dedicated, AI‑native ERP VAR focused on helping organizations modernize and scale finance operations. By implementing Rillet in weeks instead of the typical six to twelve months, Raiz helps mid‑market companies move off legacy systems, cut close times from weeks to days, and reduce spreadsheet‑driven manual work while keeping finance teams lean.
"Between software they've long outgrown and legacy systems that take a minimum of six months and hundreds of thousands of dollars to implement, the mid-market is massively underserved. Rillet takes a different approach: pairing the latest advances in LLMs and agentic workflows with highly deterministic, well-labeled, well-structured data," said Nic Kopp, CEO of Rillet. "The outcome is straightforward –– books that are always current. Together with Raiz, we're uniquely positioned to bring this vision to the mid-market at scale."
As part of the partnership, Raiz will operate within Evergreen's Pine Services Group portfolio as its first AI-native business. Pine spans more than 10,000 customers across ERP and business application services companies.
Mid-market ERP represents a multi-billion-dollar opportunity in the U.S., with hundreds of thousands of companies caught between software they've outgrown and legacy systems. A new wave of AI-native platforms is reshaping that market, and Rillet is leading the shift, having raised more than $100 million from Sequoia and Andreessen Horowitz and signed more than 400 customers since launch. Pine's incubation of Raiz gives the group a direct role in that transformation. Pairing Rillet's platform with the implementation expertise mid-market companies need to make the switch.
"We saw a major shift when AI-native platforms like Rillet started outperforming legacy systems. We realized finance teams needed an AI-native product and an AI-native implementation partner. Not the legacy ERP consulting model." said Payton Mills, CEO of Raiz.
"Pine has spent years building a portfolio of deeply specialized ERP partners who know how to deliver for mid-market customers. Raiz is what happens when you take that operating DNA and point it at a platform purpose-built for where finance is going," said Jana Schmidt, CEO of Pine Services Group. "Rillet isn't a legacy system with AI bolted on — it's a fundamentally different architecture, and the mid-market deserves access to it. Incubating Raiz is our way of ensuring our customers and our partners are on the right side of that shift."
"We intend to trailblaze the future business model for ERP partners by launching Raiz as an AI-native, Rillet partner. Raiz will combine the focus, innovation and agility of an AI-native venture with significant access to talent and capital from Pine and Evergreen. We are thrilled to back Payton Mills and his team to build our first AI-native ERP partner." said Jeff Totten, CEO of Evergreen.
Raiz's leadership, including Payton Mills, CEO of Raiz; Jana Schmidt, CEO of Pine Services Group; and Dustin Anderson, president of Pine Services Group, are founding members of Rillet's Partner Advisory Board, a select group of finance and technology leaders with direct influence over product development, roadmap priorities, and the future of AI-native finance for the mid-market.
About Raiz:
Founded in 2025, Raiz is the first Rillet-dedicated value-added reseller and implementation partner. Raiz delivers implementations in weeks, not months, at a fixed fee, not billable hours. From there, Raiz stays on as a long-term partner, managing the finance tech stack and building AI-driven workflows, agents, and custom applications that help finance teams do more with less. Learn more about Raiz here: https://www.raizworks.com/
About Pine Services Group
Pine Services Group is a long-term global holding company within Evergreen, focused on partnering with leading ERP and technology-enabled services businesses. We acquire and support strong companies, helping them grow while preserving the legacy and customer focus that made them successful. Our approach is intentionally decentralized, so that leaders within the Pine portfolio guide their businesses day to day. Pine partners alongside them to provide financial clarity, strategic support, and a strong community of peers needed to drive long-term, sustainable growth. Learn more about Pine Services Group here: https://pineservicesgroup.com/
About Rillet
Rillet is the leading AI‑native ERP that automates core financial operations for public companies and hypergrowth startups like Mercor, Function Health, and Sotheby's. From general ledger and bank reconciliation to invoicing, multi‑entity consolidation and complex revenue recognition, Rillet enables accounting teams to stay lean while scaling rapidly. They are backed by Sequoia, Andreessen Horowitz and ICONIQ with offices in San Francisco and New York.
Media Contact
Myra Austin, Evergreen, 1 7013407859, [email protected], https://www.evergreensg.com/
SOURCE Evergreen
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