Freehand raises $75 million to automate supply chain finance for Fortune 500
Enterprise AI startup Freehand has secured $75 million in Series B funding to scale its autonomous agents, signaling growing investor appetite for artificial intelligence that tackles complex, high-value back-office operations in global supply chains.
San Francisco-based Freehand has closed a $75 million Series B round to expand its autonomous artificial intelligence agents for enterprise supply chain management. The round was co-led by Battery Ventures and NewRoad Capital Partners, alongside investors Nexus Venture Partners and former U.S. Commerce Secretary Penny Pritzker.
The latest injection brings the startup’s total capital to $100 million following a $25 million Series A in March 2024. Chief Executive Nitin Jayakrishnan declined to disclose the current valuation but described it as a significant increase from the previous round.
The funding arrives as global trade faces compounding pressures from shifting tariffs, tax policies, and immigration rules that are disrupting traditional outsourcing models. Supply chain and logistics startups have attracted $6.2 billion across 350 deals in the first half of 2026, putting the sector on track for its strongest year since 2022.
Unlike corporate spend platforms that manage routine travel and card expenses, Freehand targets non-standard procurement across logistics, raw materials, and labor. Its software integrates with existing enterprise systems to read contracts, verify complex bills, and track operational milestones without human oversight.
Jayakrishnan noted that verifying massive supplier invoices across complex global shipping routes has historically required massive back-office teams. “Taking those business calls, which have historically been done through tribal knowledge, and truly automating the process to the point of no human intervention is effectively what Freehand does,” he said.
The company claims its platform autonomously processes billions in payments across 60 to 70 countries for roughly 50 clients, including Meta, Johnson & Johnson, Pfizer, and Cardinal Health. Jayakrishnan stated the technology recovers 5% to 10% of total spend and reduces procure-to-pay cycle times by more than 70%.
Jayakrishnan and co-founder Abhijeet Manohar previously built and sold Pando, an enterprise logistics software company that was acquired by a strategic buyer in early 2026. The founders transitioned to board roles at Pando in early 2024 to launch Freehand and focus entirely on agentic AI.
Battery Ventures general partner Dharmesh Thakker emphasized that the logistics sector remains heavily reliant on manual workflows despite ongoing geopolitical turmoil. He pointed out that technology spending in the industry remains a rounding error at just over $20 billion, leaving substantial room for AI to drive efficiency in mission-critical operations.
