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Freehand Raises $75M Series B for AI-Powered Supply Chain Automation
Key points
- Freehand raised $75 million in Series B funding.
- Battery Ventures and NewRoad Capital Partners co-led the round.
- The startup's total funding is now $100 million.
- Freehand's AI agents automate supply chain spend and back-office tasks.
Funding Details
Freehand, an enterprise AI startup, has successfully closed a $75 million Series B funding round. The financing was co-led by Battery Ventures and NewRoad Capital Partners, with additional participation from Nexus Venture Partners and former U.S. Commerce Secretary Penny Pritzker. This latest capital injection increases the San Francisco-based company's total funding to $100 million.
Company Background and Mission
Freehand was founded in February 2024 by Nitin Jayakrishnan and Abhijeet Manohar, who previously co-founded Pando, a SaaS transportation management system. Their experience in enterprise logistics led them to identify a need for disruption in existing back-office paradigms. Freehand focuses on agentic AI to manage complex supply chain spend and back-office operations for enterprise clients, differing from platforms that focus on corporate cards or travel expenses.
Market Context
The funding round occurs amidst increasing strain on traditional supply chain outsourcing models due to factors like tariffs, taxes, and immigration policies. Concurrently, venture funding for supply chain and logistics-related startups is experiencing an uptick, with $6.2 billion raised in the first half of the current year across 350 deals, indicating a growing interest in this sector.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Enterprise AI startup Freehand secured $75 million in Series B funding to expand its autonomous AI agents, which manage complex supply chain spend and back-office operations for large companies. This funding round brings Freehand's total capital raised to $100 million and aims to address the challenges in traditional supply chain outsourcing models.