Freehand, a San Francisco-based startup that sells AI agents for supply-chain spend management, said July 29 that it raised US$75 million in a funding round.

The round was co-led by Battery Ventures and NewRoad Capital Partners and will help expand its offering for large enterprises.

PSP Growth, Nexus Venture Partners, and others also joined the round. Battery Ventures general partner Dharmesh Thakker will join Freehand’s board.

Founded in 2024 by Nitin Jayakrishnan and Abhijeet Manohar, Freehand said its agents decide whether to pay supply-chain invoices.

They also handle tasks such as negotiating rates, enforcing contracts, managing suppliers, processing payments, and reconciling data within enterprise systems.

The company said it has deployments at Meta, Unilever, Johnson & Johnson, Pfizer, Dunkin’, and Cardinal Health.

Freehand said early deployments recovered 5% to 10% of supply-chain spend in complex categories, completed workflows 5x to 7x faster, and cut procure-to-pay cycles by more than 70%, although the company reported those figures.

Battery also backs Coupa, an enterprise spend-management platform, placing Freehand in a market that includes established procurement software vendors and newer AI-agent companies.

🔗 Source: Nexus Venture Partners