Freehand raises $75M to automate enterprise supply-chain spending

Freehand has raised $75 million to expand AI agents that handle invoices, supplier negotiations, payments, and other supply-chain tasks for large companies. Summary Battery Ventures and NewRoad Capital Partners co-led the $75 million funding round. Freehand says its agents are deployed at Meta, Unilever, Pfizer, and Johnson & Johnson. Customers recovered 5% to 10% of spending in some categories, according to company data. The startup will expand beyond invoice management into broader supply-chain operations. Freehand secures $75 million from US investors Battery Ventures and NewRoad Capital Partners co-led the round, with Nexus Venture Partners and PSP Growth also participating. Former US Commerce Secretary Penny Pritzker runs PSP Growth. Freehand did not disclose the funding round’s valuation or specify whether it issued equity, debt, or another security. Battery Ventures general partner Dharmesh Thakker will join the startup’s board as part of the transaction. The funding follows Freehand’s emergence from stealth in February. The company says its software is already used by Meta, Unilever, Johnson & Johnson, Pfizer, Dunkin’, and Cardinal Health, although it has not disclo...