Thursday 16th January, 2020
Houston based HighRadius has raised $125 million in a Series B growth funding round. The funding round led by ICONIQ Capital, with participation from existing investors Susquehanna Growth Equity and Citi Ventures has helped HighRadius achieve unicorn status (a privately held start-up valued at over $1bn).
The company said, the funding will be used to accelerate HighRadius’ continuing platform development and expansion of the company’s geographic reach.
The HighRadius integrated platform for accounts receivables and treasury management leverages native AI capabilities to help companies optimise working capital.
Sashi Narahari, Founder and CEO of HighRadius, said: “Today marks an important milestone for HighRadius and we’re thrilled to have ICONIQ join us in our vision to modernise the Order to Cash space.”
“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, and ICONIQ is a great partner for us in this journey.”
“We’re thrilled to support HighRadius’ efforts to bring innovative AI capabilities to the financial side of the enterprise,” said Will Griffith, Partner at ICONIQ Capital. “As we have seen in many of our portfolio companies and past investments, including BlackLine and Coupa, digital transformation is increasingly a CFO priority.”
He added, “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.”