HighRadius,
the leader in Artificial Intelligence-powered Order-to-Cash and Treasury
Management software, has raised $125 million in a Series B growth
funding round led by ICONIQ
Capital, with participation from existing investors Susquehanna
Growth Equity and Citi
Ventures. The new capital will be used to accelerate HighRadius’
continuing platform development and expansion of the company’s
geographic reach.
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HighRadius is headquartered in Houston, Texas and is trusted by more
than 400 clients including more than 200 of the Forbes Global 2000. The
HighRadius integrated platform for accounts receivables and treasury
management leverages native AI capabilities to help companies optimize
working capital. The HighRadius platform includes:
-
Rivana
AI engine with machine learning algorithms trained on over $1
trillion in receivables per annum to automate routine tasks and
provide insights such as predicting invoice payment dates. -
Autonomous
Receivables, an industry-first enterprise software—with a touch
and voice user interface powered by the Freeda
Digital Assistant—that brings the first ‘human + machine’
real-time interaction experience to corporate users. -
AI-powered
cash forecasting to fundamentally shift treasurers away from
sub-optimal financing decisions made due to a lack of confidence in
current excel-based heuristic models.
Sashi Narahari, Founder and CEO of HighRadius, said: “Today marks an
important milestone for HighRadius and we’re thrilled to have ICONIQ
join us in our vision to modernize the Order to Cash space. ICONIQ
combines patient capital with a long-term vision of investing in
category-defining businesses, and the firm has worked with some of the
world’s most successful tech entrepreneurs. We are building HighRadius
into a self-sustaining, long-term category leader, and ICONIQ is a great
partner for us in this journey.”
“We’re thrilled to support HighRadius’ efforts to bring innovative AI
capabilities to the financial side of the enterprise,” said Will
Griffith, Partner at ICONIQ Capital. “As we have seen in many of our
portfolio companies and past investments, including BlackLine and Coupa,
digital transformation is increasingly a CFO priority. The HighRadius
platform is game-changing for CFOs and finance departments, and the
company has earned tremendous customer loyalty by enabling receivables
and treasury teams to perform more efficiently and effectively, and by
delivering mission-critical ROI. HighRadius fits squarely into our
commitment to invest in best-in-class, long-term technology businesses
driven by incredible teams, and we look forward to working alongside
Sashi and the rest of the HighRadius team through their next phase of
growth.”
HighRadius was advised by Atlas
Technology Group for this transaction.
About HighRadius Corporation
HighRadius is a fintech enterprise SaaS which automates Accounts
Receivable and Treasury processes with AI-based Autonomous Systems. The HighRadius®
Integrated Receivables platform reduces cycle times in your
order-to-cash process through automation of receivables and payments
processes across credit, electronic billing and payment processing, cash
application, deductions, and collections. HighRadius® Treasury
Management Applications help teams achieve touchless cash
management, accurate cash forecasting and seamless bank reconciliation.
Powered by the Rivana™
Artificial Intelligence Engine and Freeda™
Digital Assistant for order-to-cash teams, HighRadius enables teams to
leverage machine learning to predict future outcomes and automate
routine labor-intensive tasks. To learn more, please visit www.highradius.com.
About ICONIQ Capital
ICONIQ Capital is a privately-held financial advisory and investment
firm, and a partner of choice for exceptional entrepreneurs, leaders and
institutions around the world. The firm invests in technology growth
equity, middle market buyout and real estate asset classes and employs a
distinctive ecosystem to build enduring businesses. ICONIQ is a trusted
advisor fostering meaningful strategic relationships across industries
to source powerful ideas, magnify global impact and support a new
generation of entrepreneurs and companies. For a full list of
investments made by ICONIQ Growth, an affiliate of ICONIQ Capital,
please visit here.
About Susquehanna Growth Equity
Susquehanna Growth Equity, LLC (SGE) invests in growth stage technology
companies in the software, information services, internet and financial
technology sectors. SGE is backed by a unique and patient source of
capital, which enables the firm to give management teams and
entrepreneurs freedom and flexibility to maximize growth. The firm has
invested in over 50 companies globally over the last 13 years. To learn
more, please visit www.sgep.com.
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