Freehand, a San Francisco-based FINTECH AI company building autonomous agents for enterprise spending and financial operations, has raised $75 million in a round co-led by Battery Ventures and NewRoad Capital Partners, with backing from PSP Growth (the investment firm founded by former U.S. Commerce Secretary Penny Pritzker) and Nexus Venture Partners, with Battery Ventures general partner Dharmesh Thakker joining the board. The company, which recently emerged from stealth and is already deployed across Meta, Unilever, Johnson & Johnson, Pfizer, Dunkin’, and Cardinal Health, deploys AI agents to manage procurement, supplier relationships, invoice processing, and payment operations across categories including logistics, direct materials, and MRO, powered by its Category Context Graph, which captures decisions, transactions, and exceptions across individual spending categories. Early customers have reportedly recovered 5 to 10% of spending, completed workflows five to seven times faster, and reduced procure-to-pay cycles by up to 70%.

Freehand Raises $75m to Automate Enterprise Spending