Freehand

Freehand (freehand.ai) is an enterprise AI company that provides autonomous agents to manage and govern complex supply chain spend for large corporations, primarily targeting Fortune 500 logistics and procurement departments. Established in February 2024 by enterprise logistics veterans Nitin Jayakrishnan (CEO) and Abhijeet Manohar, who previously co-founded and sold Pando, Freehand addresses the multi-trillion-dollar market of enterprise supply chain spend, which is traditionally plagued by inefficiencies, archaic systems, and reliance on extensive human capital. Freehand's business model involves deploying "AI Teams" that operate autonomously within a client's existing enterprise resource planning (ERP), procurement, and finance systems. These agentic AI solutions are designed to read unstructured data, reason across structured data, and execute decisions, effectively replacing operational headcount and software seats. Their services encompass managing non-standard spending across logistics, raw materials, and labor, handling invoice matching, managing exceptions, and conducting vendor negotiations. The core of their platform is a proprietary "context graph" that maps decisions and actions within the supply chain, enabling the AI agents to handle judgment-heavy and exception-riddled workflows. The company reports its platform processes billions in payments, delivering significant efficiency gains for clients like Meta, Johnson & Johnson, and Pfizer, with reported metrics including a 70-90% reduction in procure-to-pay and accounts payable cycle times and a 5-10% recovery of supply chain spend. Freehand has secured $100 million in funding, including a $25 million Series A and a $75 million Series B, from investors such as Battery Ventures and NewRoad Capital Partners.