Overview
- Freehand announced a $75 million Series B on July 29, 2026, saying the round was co-led by Battery Ventures and NewRoad Capital Partners with participation from Nexus Venture Partners and PSP Growth.
- The company says its autonomous agents are already live at major firms including Meta, Unilever, Johnson & Johnson, Pfizer, Dunkin’ and Cardinal Health and report recoveries of 5–10% of spend, workflows that run 5–7x faster, and procure‑to‑pay cycles cut by more than 70%.
- Freehand’s agents run inside customers’ enterprise systems using a proprietary Category Context Graph that links contracts, emails, documents and transaction records so the software can read contracts, negotiate rates, approve invoices, process payments, and reconcile accounts autonomously.
- The new funding will be used to broaden the platform beyond invoice processing into direct materials and maintenance, repair and operations categories while Battery’s Dharmesh Thakker joins Freehand’s board; the company declined to disclose a post‑round valuation.
- If the technology sustains these results it could displace large offshore back‑office teams and reduce reliance on layered procurement software, shifting how companies manage tens of trillions in annual supply‑chain spend and changing jobs in finance and procurement.