According to itbrief.co.uk, Freehand, a San Francisco-based startup specializing in AI-driven supply chain finance automation, has raised $75 million in seed funding.
Investor Consortium and Leadership Backing
The round was co-led by Battery Ventures and NewRoad Capital Partners, with participation from PSP Growth, Nexus Venture Partners, and Penny Pritzker, former U.S. Commerce Secretary and Founder & Chairman of PSP Partners & PSP Growth. Dharmesh Thakker of Battery Ventures will join Freehand’s board as part of the investment. The company was founded by Nitin Jayakrishnan, Co-Founder and CEO, and Abhijeet Manohar, Co-Founder — both veterans of enterprise software, with Jayakrishnan previously building and selling logistics-focused startup Pando.
Enterprise Deployment and Measurable Outcomes
Freehand’s AI agents are already deployed at global enterprises including Meta, Unilever, Johnson & Johnson, Pfizer, Dunkin’, and Cardinal Health. Across early implementations, customers reported recovering 5% to 10% of spend in complex procurement categories, completing workflows five to seven times faster, and reducing procure-to-pay cycles by more than 70%. These results reflect direct cost avoidance and accelerated execution — core value propositions emphasized in customer engagements.
Targeting a Structural Gap in Supply Chain Operations
Freehand focuses on high-friction, labor-intensive financial workflows: invoice auditing and payment, supplier rate negotiation, supplier management, and cross-system data reconciliation. The company cites U.S. Bureau of Economic Analysis data showing American businesses spend over $20 trillion annually on raw materials, logistics, data centers, and services. Yet this spending is managed largely through legacy software and outsourced teams — a model increasingly strained by tariffs, tax policy shifts, and immigration restrictions. As Jayakrishnan stated:
“Enterprises spend $16 billion a year on supply chain software and another $348 billion hiring people to do what this software cannot. We built Freehand to close that gap — with AI agents that decide, act and take accountability for outcomes. This is the beginning of true autonomy in the enterprise.” — Nitin Jayakrishnan, Co-Founder and CEO of Freehand
Technical Architecture and Enterprise Trust
To overcome longstanding automation barriers — such as interpreting contracts, invoices, internal policies, and unstructured communications — Freehand developed its proprietary Category Context Graph. This layer integrates unstructured data from documents and communication channels with structured enterprise systems, enabling auditable, context-aware decision-making. Customer validation is central to Freehand’s go-to-market strategy, especially given enterprise caution around autonomous financial operations. Matt Algar, Global VP of Supply Chain at Unilever, affirmed its strategic role:
“Freehand marks one of the first full-scale agentic deployments at Unilever and is an early anchor in the shift from software that assists to software that runs our supply chain.” — Matt Algar, Global VP of Supply Chain, Unilever
Investor Rationale and Market Positioning
Investors highlighted both traction and precision. Battery Ventures’ Dharmesh Thakker noted Freehand’s “vertical wedge and tremendous customer love, proven at some of the world’s largest companies.” NewRoad Capital Partners’ Gregoire Lehmann, Partner, emphasized measurable ROI:
“What stood out to us about Freehand wasn’t just the technology, but the measurable business outcomes customers were achieving. Freehand is delivering immediate ROI by helping enterprises reduce overpayments and operating costs, improve audit accuracy and automate highly manual supply chain finance workflows.” — Gregoire Lehmann, Partner at NewRoad Capital Partners
Penny Pritzker linked the company’s mission to national competitiveness:
“America’s industrial competitiveness relies on how effectively our largest companies operate. Freehand is one of a few companies converting frontier AI into measurable productivity gains across enterprise supply chains, with rigor, scale and accountability.” — Penny Pritzker, Founder and Chairman of PSP Partners & PSP Growth
Source: itbrief.co.uk
Compiled from international media by the SCI.AI editorial team.
