Freehand raises $75M to put AI agents in charge of enterprise supply-chain spend

What's the deal? FreehandDealroom has a profile for this one. Try Dealroom → has raised $75 million to expand the AI agents it builds to automate supply-chain and procurement spend for Fortune 500 enterprises. The round was co-led by Battery Ventures and NewRoad Capital PartnersDealroom has a profile for this one. Try Dealroom →, with PSP GrowthDealroom has a profile for this one. Try Dealroom → — the firm chaired by former US Commerce Secretary Penny Pritzker — and Nexus Venture Partners also joining. Battery's Dharmesh Thakker is taking a board seat.

What does it do? Founded in San Francisco in 2024 by Nitin JayakrishnanDealroom has a profile for this one. Try Dealroom → (CEO) and Abhijeet ManoharDealroom has a profile for this one. Try Dealroom → — who previously built enterprise-logistics platform Pando — Freehand gives its agents a "Category Context Graph" that fuses structured enterprise data with contracts, emails and other documents. Rather than suggesting like a chatbot, the agents read supplier contracts, negotiate rates, approve invoices, process payments and reconcile records directly inside systems like SAP and Oracle.

Why it matters: The agents are already in production at some of the world's largest companies — Meta, UnileverDealroom has a profile for this one. Try Dealroom →, Johnson & Johnson, PfizerDealroom has a profile for this one. Try Dealroom →, Dunkin' and Cardinal Health — within roughly two years of founding. Freehand says customers recover 5–10% of spend in complex categories, complete workflows 5–7x faster, and cut procure-to-pay cycles by more than 70%, as enterprises wind down legacy software and outsourcing contracts.

The signal: Freehand sits in a crowded field of startups building agents that do enterprise work rather than assist with it — peers like Harvey in legal have raised at multibillion-dollar valuations. Its edge is a narrow focus on procurement and supply-chain finance, one of the largest and least-automated corners of enterprise spend. Notably, Battery also backs spend-management platform Coupa, putting Freehand in potential competition with its own backer's portfolio. The funding will push the agents beyond invoice processing into direct materials and MRO spend.

Read more: Tech Funding News