Freehand has raised $75 million to expand its AI agents that handle invoices, supplier negotiations, payments, and other supply-chain tasks for large companies. Battery Ventures and NewRoad Capital Partners co-led the round, with Nexus Venture Partners and PSP Growth also participating. The funding follows Freehand’s emergence from stealth in February, with its software already used by notable companies such as Meta, Unilever, and Johnson & Johnson.
Key Features
Freehand focuses on the procure-to-pay process, beginning with invoices, and its AI agents can review contracts, negotiate supplier rates, and process payments. The company claims early customers completed workflows five to seven times faster and reduced procure-to-pay cycles by more than 70%.
Market Context
US companies spend more than $20 trillion annually on materials, logistics, data centers, and services, and Freehand estimates that enterprises also spend $16 billion each year on supply-chain software. The company will use its new capital to move beyond invoice checking and payments, and deploy agents across more supply-chain processes and spending categories.
