Venture Capital: AI+Fintech+SaaS Startup HighRadius Achieves Unicorn Status

The firm’s latest raise of $125 million catapulted it into the unicorn club.

HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based autonomous systems to help companies automate their Accounts Receivable and Treasury processes. It raised $125 million in a Series B growth funding round led by ICONIQ Capital. Existing investors Susquehanna Growth Equity and Citi Ventures also participated.

HighRadius is a leader in Artificial Intelligence-powered Order-to-Cash and Treasury Management software. Further, it boasts of 400 clients, of which more than 200 are in the Forbes Global 2000.

Product: Rivana

The HighRadius Rivana Artificial Intelligence Platform is currently built on a dozen machine learning algorithms to continuously learn and provide insights on all possible A/R and treasury scenarios. These include use cases such as:

  • predicting invoice payment dates,
  • validation of deductions,
  • predicting customer default,
  • forecasting cash flows with pinpoint accuracy right up to individual invoice level and across all cash flow categories.

Product: Autonomous Receivables

Secondly, the HighRadius Autonomous Receivables is a pioneering enterprise software – with a touch and voice user interface powered by the Freeda Digital Assistant – that brings the first ‘human + machine’ real-time interaction experience to corporate users. HighRadius, therefore, designed its software to put a company’s Order to Cash on auto-pilot.

AI-powered Treasury Management

Further, the HighRadius Treasury Management Applications include the world’s first Artificial Intelligence-powered Cash Forecasting Cloud, The Cash Management Cloud and Bank reconciliation.

Therefore, treasurers spend lesser manual effort but extract better outcomes such as:

  • making more accurate cash forecasts across all cash flow categories,
  • increased forecasting frequency and variance reporting,
  • gaining instant visibility into real-time cash positions across bank accounts at any level, and
  • achieving 99%+ straight-through reconciliation of bank statements without human intervention.

Use of funds

HighRadius will use the latest raise to develop its platform further and to expand across the globe. Sashi Narahari, Founder and CEO, welcomed ICONIQ to share in “our vision to modernize the ‘Order to Cash’ space.”

Moreover, “HighRadius fits squarely into our commitment to investing in best-in-class, long-term technology businesses driven by incredible teams,” said Will Griffith, 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,” added Griffith.

Related Story:  Auriga Launches WWS AI For Advanced Banking Insights                                                 

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

January 16, 2020

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

Latest Alternative Investment News

Emission-Free Friday: Here are the Latest Funds to Push for Carbon Neutral
January 17, 2020     ESG and Sustainability, Investments, News

Carbon emissions dominated the headlines this week. The European Commission has announced an ambitious plan to shift toward a green economy and make the EU carbon-neutral in the year ahead….

Kirkoswald Asset Management Will Turn New Investors Away in 2020
January 17, 2020     Hedge Funds, News

Kirkoswald Asset Management will stop accepting new investors when the fund hits nearly $2 billion. Reuters reports that the two-year-old fund will close itself to new investors at the end…

FinTech: Fundbox Hires Former Goldman Sachs Investment Banker as CFO
January 17, 2020     FinTech, Venture Capital

Fundbox, the fintech startup that finances SMEs, is planning a potential IPO. Fundbox has appointed Marten Abrahamsen as its CFO effective this January. Abrahamsen was previously a partner at The…

Hedge Funds: The Empire Strikes Back At HKD Short-Sellers and Doomsayers
January 17, 2020     Hedge Funds, News

Such is the power of Kyle Bass, the hedge fund manager who correctly predicted the crisis from US subprime mortgages in 2007. The Hong Kong Monetary Authority deemed it appropriate…