HighRadius raises $300 mn in Series C at a valuation of $3.1bn

By Pavithra R

HighRadius, a FinTech SaaS company leveraging AI-based autonomous systems to help companies automate accounts receivable and treasury processes, has announced securing $300 mn in Series C round at a valuation of $3.1bn.

The investment was led by D1 Capital and Tiger Global with participation from existing investors ICONIQ Growth and Susquehanna Growth Equity. The investment round also saw participation from tech industry leaders, Frank Slootman, Chairman and CEO of Snowflake; Michael Scarpelli, CFO of Snowflake; Tooey Courtemanche, CEO of Procore Technologies; and Howie Liu, Co-founder and CEO of Airtable.

HighRadius is planning to use the finance to fuel product innovation and expand global go-to-market reach. Its AI-powered platforms for Order-to-Cash and Treasury Management help clients optimize their working capital.

“Our mission at D1 is to back visionary entrepreneurs as they solve large, pressing problems. Offices of the CFO have historically relied on antiquated, analog processes and infrastructure to manage their accounts receivable and treasury functions. HighRadius is a clear leader in driving digital transformation in the Office of the CFO. We have been impressed by Sashi and his team’s long-term focus and look forward to joining the company’s journey,” said Daniel Sundheim, Founder of D1 Capital Partners.

“HighRadius is in the opening innings of defining the next big software market for the Office of the CFO. HighRadius bears all of the signs of being a ‘category defining’ business for Order-to-Cash automation. We are thrilled to join the HighRadius team for the ride,” said John Curtius, Partner at Tiger Global Management.

Established in 2006, HighRadius is a SaaS company that leverages AI-based autonomous systems specializing in automating the order-to-cash and treasury management processes.