AI Startup Freehand Raises $75 Million for Enterprise Supply Chain Platform
AI startup Freehand has secured $75 million in funding to expand its platform that uses autonomous agents to automate enterprise supply chain operations. The funding round was co-led by Battery Ventures and NewRoad Capital Partners.
Freehand, an AI startup developing autonomous agents for enterprise supply chain operations, announced it has raised $75 million in a funding round co-led by Battery Ventures and NewRoad Capital Partners. The capital infusion also saw participation from PSP Growth and existing investor Nexus Venture Partners.
The company plans to utilize the newly acquired funds to enhance its AI platform, which is designed to automate supply chain spending workflows for large enterprises. Founded in 2024 by Pando co-founders Nitin Jayakrishnan and Abhijeet Manohar, Freehand has been operating in stealth mode until this announcement.
The San Francisco-based startup develops AI agents that manage procurement, supplier management, invoice processing, payments, and contract compliance. These agents aim to replace manual processes and legacy enterprise software by executing decisions across enterprise systems, thereby automating complex operational tasks.
Freehand claims its AI agents are currently deployed at companies including Meta, Unilever, Johnson & Johnson, and Pfizer. According to the startup, clients using its platform have reported savings of 5-10% on spending in complex procurement categories, completed workflows 5-7 times faster, and reduced procure-to-pay cycles by over 70%.
This funding round occurs as businesses increasingly adopt AI solutions capable of automating entire workflows, moving beyond simple AI assistants. The investment reflects growing venture capital interest in enterprise AI startups focused on agentic technologies that perform tasks with minimal human intervention.