Enterprise AI startup Freehand has raised $75 million in a Series B round co-led by Battery Ventures and New Road Capital Partners, bringing total funding to $100 million. CEO Nitin Jayakrishnan said the valuation represents a "significant step up" from the $25 million Series A in March 2024. The round included Nexus Venture Partners and former U.S. Commerce Secretary Penny Pritzker.

Founded in February 2024 by Jayakrishnan and Abhijeet Manohar after exiting their logistics SaaS company Pando, Freehand deploys autonomous AI agents to manage complex supply chain spend — logistics, raw materials, parts, and labor — unlike corporate-card platforms such as Ramp. The agents operate inside existing systems, reading contracts, emails, and internal data to verify bills, track milestones, and negotiate with vendors.

Freehand counts 50 customers including Meta, Johnson & Johnson, Pfizer, and Cardinal Health. Its platform autonomously processes billions in payments across 60–70 countries and hundreds of currencies. The company claims 5–10% spend recovery, 5–7x faster workflows, and over 70% reduction in procure-to-pay cycle times.

Battery's Dharmesh Thakker noted supply chain tech spend is just $20 billion against massive manual workflows, with 2026 on track for $6.2 billion in sector funding across 350 deals — the strongest year since 2022. He cited Freehand's founder-market fit, Fortune 500 focus, and measurable outcomes as key differentiators.