Indian origin entrepreneur’s startup HighRadius is the latest unicorn in the US
HighRadiushas raised $125 million in a series B round of funding from ICONIQ Capital.
- The startup is founded by Indian
entrepreneurSashi Narahari and also has offices in Hyderabad, London and Amsterdam.
treasury managementplatform helps companies optimize their working capital.
The AI-based startup raised $125 million in a series B round of funding from ICONIQ Capital, along with participation from Susquehanna Growth Equity and Citi Ventures.
The startup is founded by Indian entrepreneur Sashi Narahari and has offices in Hyderabad, London and Amsterdam.
“ICONIQ combines patient capital with a long-term vision of investing in category-defining businesses, and the firm has worked with some of the world’s most successful tech entrepreneurs. We are building HighRadius into a self-sustaining, long-term category leader,” said Narahari.
HighRadius’ treasury management platform helps companies optimize their working capital. They have 400 clients including over 200 of the Forbes Global 2000. Some of its clients are General Electric, Hindustan Unilever, Loreal, P&G, Sony, Reebok among others.
Through its technology platform, HighRadius offers Rivana – an AI engine with machine learning which automates tasks and provides insights.
It also has an AI-powered cash forecasting which takes in data such as bank statement inflows/outflows, sales orders/customers invoices, purchase orders/vendor invoices and expense reimbursements.
The company will use the latest funds for platform development and to enter new markets.
“The HighRadius platform is game-changing for CFOs and finance departments, and the company has earned tremendous customer loyalty by enabling receivables and treasury teams to perform more efficiently and effectively, and by delivering mission-critical ROI,” said Will Griffith, partner at ICONIQ Capital.
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