HighRadius raises $125m in Series B growth funding round

Maria Nikolova

The new capital will be used to accelerate HighRadius’ continuing platform development and to fund the company’s expansion.

HighRadius, a provider of Artificial Intelligence-based Order-to-Cash and Treasury Management software, today announces that it 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 funds will be used to accelerate HighRadius’ continuing platform development and the company’s expansion.

Based in Houston, HighRadius is trusted by more than 400 clients. 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, commented: “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.”

Will Griffith, Partner at ICONIQ Capital, said: “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.”

Atlas Technology Group advised HighRadius for this transaction.

Read this next

blockdag

BlockDAG Transforms Crypto Mining with X1 Beta App Launch, Raises $49.2M in Presale; SEI & BONK Developments

Uncover BlockDAG’s X1 app beta launch, reshaping mobile mining and propelling its presale to $49.2M, eclipsing BONK and SEI.

Digital Assets

Joe Biden’s campaign explores crypto donations via Coinbase

U.S. President Joe Biden’s campaign is in discussions with cryptocurrency industry players about accepting crypto donations through Coinbase Commerce, sources familiar with the matter told The Block.

Chainwire

VGX Foundation and Honeyland Partner to Offer VGX Rewards for Players

The VGX Foundation has announced a partnership with popular web3 game Honeyland, offering rewards utilizing the VGX token for their players.

Digital Assets

Terraform and Do Kwon fined $4.5 billion to settle with SEC

Terraform Labs and its co-founder Do Kwon have reached a final settlement with the U.S. Securities and Exchange Commission (SEC) regarding a fraud case, according to a court filing on Wednesday.

Retail FX

Dukascopy broadens CFD offering with Italian stocks

Switzerland’s forex bank and broker, Dukascopy has just expanded its offering to include Italian stocks and the Italy 40 Index. The new additions allow clients to access a broader range of investment opportunities in the Italian market.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Monetary Policy, US Inflation,Eurozone June 12 ,2024

The Fed meets today to decide on interest rates. A dovish shift (keeping rates steady or hinting at cuts) is expected, weakening the US dollar and potentially boosting gold prices.

blockdag

BlockDAG Leads CoinSniper Ranking as Presale Surges to $49.2M While Cardano Shows Resilience & ApeCoin Surges

Explore BlockDAG’s #1 ranking on CoinSniper listing as presale booms to $49.2M. More on ADA’s resilience & ApeCoin’s surge.

Market News, Tech and Fundamental, Technical Analysis

Gold Technical Analysis Report 12 June, 2024

Gold can be expected to rise further toward the next resistance level 2385.00, which stopped the previous minor correction B at the start of June.

<