Houston, Texas based HighRadius steps into 2020 with new cash and the distinction of being the years’ first tech startup unicorn.
The company that specializes in automating the accounts receivable and treasury processes with AI-based Autonomous Systems announced they have raised $125 million in Series B growth funding. ICONIQ Capital lead the funding, with participation from Citi Ventures and Susquehanna Growth Equity. This new funding puts HighRadius at $1 billion in valuation.
According to the company, HighRadius currently has more than 400 clients, including Johnson & Johnson, 3M, Uber, Honeywell, Zurich, Bayer and Citco. HighRadius’ platform lets clients project customer payment dates, run receivables autonomously, and forecast cash decisions using AI.
more than 400 clients including more than 200 of the Forbes Global 2000. The HighRadius integrated platform for accounts receivables and treasury management leverages native AI capabilities to help companies optimize working capita
“Today marks an important milestone for HighRadius and we’re thrilled to have ICONIQ join us in our vision to modernize the Order to Cash space,” said Sashi Narahari, founder and CEO of HighRadius, in a statement. “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,” adds Will Griffith, a Partner at ICONIQ Capital. “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. HighRadius fits squarely into our commitment to invest in best-in-class, long-term technology businesses driven by incredible teams, and we look forward to working alongside Sashi and the rest of the HighRadius team through their next phase of growth.”
HighRadius was founded in 2006.