Freehand Raises $75M Series B To Automate Fortune 500 Supply Chain Spend

Freehand raised $75 million in Series B funding to grow autonomous AI agents for supply chain spend and back-office operations. Battery Ventures and NewRoad Capital Partners co-led the round, with participation from Nexus Venture Partners and former U.S. Commerce Secretary Penny Pritzker. The San Francisco-based company has now raised $100 million total, while declining to disclose its valuation.

Freehand targets complex supply chain operations rather than standard corporate card, travel or bill-pay workflows. Its AI agents work inside existing company systems to read contracts, policies, emails and internal data, then verify bills, track operational milestones and handle vendor negotiations. The core use case is reducing manual oversight in non-standard spending categories such as logistics, raw materials, parts and labor.

The funding comes as tariffs, taxes and immigration policy put pressure on long-running outsourcing models in supply chains. Crunchbase News also reports an uptick in venture funding for supply chain and logistics startups, with 2026 on pace to be the strongest year since 2022. For enterprises, the takeaway is clear: AI automation is moving from experimental back-office pilots toward operational workflows tied to payments, compliance and vendor relationships.

Freehand counts about 50 customers, including Meta, Johnson & Johnson, Pfizer and Cardinal Health. The company says its platform autonomously processes billions in payments across 60 to 70 countries and hundreds of currencies without human supervision. CEO and co-founder Nitin Jayakrishnan told Crunchbase News the technology can recover 5% to 10% of total spend across categories, complete complex workflows 5x to 7x faster and reduce procure-to-pay cycle times by more than 70%.

Freehand was founded in February 2024 by Jayakrishnan and Abhijeet Manohar, enterprise logistics veterans who previously co-founded Pando. Pando operated as a SaaS transportation management system and procure-to-pay system of record for large enterprise logistics, and was sold to a strategic buyer in early 2026. Freehand was launched as an independent company focused entirely on agentic AI for enterprise supply chain finance.