Freehand Raises $75 Million for Autonomous Procurement Platform

Freehand, a company building autonomous AI agents for enterprise procurement and payments, announced it has raised $75 million in funding. The Series B round was co-led by Battery Ventures and NewRoad Capital Partners, with participation from existing investors.

What Freehand Does

Freehand’s platform uses AI agents to automate the entire procure-to-pay process. These agents can:

• Negotiate rates with suppliers
• Enforce contract terms
• Manage supplier relationships
• Process invoices and payments
• Reconcile data across enterprise systems

Results Seen in Early Deployments

Companies like Meta, Unilever, Johnson & Johnson, Dunkin’, Pfizer, and Cardinal Health are already using Freehand’s platform. These deployments have reportedly delivered:

• 5% to 10% savings on complex procurement categories
• Workflow completion times reduced by 5x to 7x
• Procure-to-pay cycles shortened by over 70%
• Improved team efficiency through automation and outsourcing reduction

“Our AI agents decide, act, and take accountability for outcomes,” explained Nitin Jayakrishnan, co-founder and CEO of Freehand.

Why This Matters

The rise of AI-powered procurement solutions reflects a broader trend toward autonomous enterprise systems. As companies seek to optimize complex operations and reduce costs, platforms like Freehand are gaining traction by automating tasks previously handled by human teams.

This funding round validates the market demand for intelligent supply chain management solutions that can deliver measurable business impact.