Freehand Secures $75 Million Funding to Expand AI Supply‑Chain Platform

Freehand announced a $75 million financing round co‑led by Battery Ventures and NewRoad Capital Partners, with participation from PSP Growth, Nexus Venture Partners and other investors. The San Francisco‑based startup’s AI agents autonomously manage supply‑chain spend for Fortune 500 companies such as Meta, Unilever, Johnson & Johnson, Pfizer, Dunkin’ and Cardinal Health. By reading contracts, negotiating with suppliers, processing payments and reconciling data, the agents replace legacy software and outsourced labor, delivering 5‑10% spend recovery, workflows 5–7 times faster and more than a 70% reduction in procure‑to‑pay cycles. Customers are redeploying staff to higher‑value work as a result. Co‑founders Abhijeet Manohar and Nitin Jayakrishnan highlighted the shift from assistive software to software that runs the supply chain, and Matt Algar, Global VP of Supply Chain at Unilever, called the deployment a “first full‑scale agentic deployment.”