The startup, whose agents negotiate and pay across procurement for the likes of Unilever and Pfizer, is betting enterprises want software that acts, not software that suggests.
Freehand, a startup whose AI agents take over the grunt work of managing what large companies spend on their supply chains, has raised $75 million.
The round is co-led by Battery Ventures and NewRoad Capital Partners, with participation from Nexus Venture Partners and PSP Growth, the fund run by former US Commerce Secretary Penny Pritzker.
The company sits in a lane that is filling fast. Its pitch, that enterprises want software which acts rather than merely advises, is the same one behind a wave of agentic startups, including Pivot, which raised $40 million for an AI procurement system aimed at the same enterprise back office.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!Freehand’s target is the invoice. Its agents read contracts, negotiate rates with suppliers, catch overbilling, process payments, and reconcile the results inside a company’s own ERP systems, work that has traditionally run on legacy software and large teams of outsourced staff.
