Freehand has raised $75 million in a Series B round co-led by Battery Ventures and NewRoad Capital Partners, bringing the enterprise AI startup’s total funding to $100 million since its February 2024 founding.

PSP Growth, backed by former US Commerce Secretary Penny Pritzker, and Nexus Venture Partners also joined the round. Freehand declined to disclose valuation. CEO Nitin Jayakrishnan called the raise a jump from the $25 million Series A closed in March 2024, roughly a 3x increase in capital per round in under 16 months.

What The Software Does

Freehand’s software analyzes contracts, invoices and communications to decide whether to pay, dispute or renegotiate supplier payments.

Clients report a seven-fold acceleration in workflow speed and spending reductions of up to 10% through fraud detection and automated negotiations, according to Forbes. Named customers include Meta, Unilever, Johnson & Johnson, Pfizer, Dunkin’ and Cardinal Health.

Co-founders Jayakrishnan and Abhijeet Manohar previously built and sold Pando, a transportation management and procure-to-pay platform for large enterprises. Freehand is built as a vertical play in supply chain rather than a general-purpose enterprise AI tool.

Supply chain and logistics startups raised $6.2 billion across 350 deals in the first half of 2026, their strongest pace since 2022, according to Crunchbase data.

Sources

Reporting compiled and contextualised by TechScoop Austin. Figures reconciled across the sources above.

Originally reported by Crunch Base.