HighRadius, the Houston-based, AI-powered Order-to-Cash and Treasury Management software provider, has kicked off the new year by raising $125m in a Series B growth funding round.
Led by ICONIQ Capital with participation from existing investors Susquehanna Growth Equity and Citi Ventures, the round has earned HighRadius unicorn status, the definition used to describe a privately held start-up valued at over $1bn.
Sashi Narahari, Founder and CEO of HighRadius, said: “Today marks an important milestone for HighRadius and we’re thrilled to have ICONIQ join us in our vision to modernize the Order to Cash space.”
“ICONIQ combines patient capital with a long-term vision of investing in category-defining businesses, and the firm has worked with some of the world’s most successful tech entrepreneurs. We are building HighRadius into a self-sustaining, long-term category leader, and ICONIQ is a great partner for us in this journey,” Narahari said.
Will Griffith, Partner at ICONIQ Capital, said: “We’re thrilled to support HighRadius’ efforts to bring innovative AI capabilities to the financial side of the enterprise. As we have seen in many of our portfolio companies and past investments, including BlackLine and Coupa, digital transformation is increasingly a CFO priority."
He added: "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."
HighRadius said it will use the money to keep developing its platform and also expand its geographical reach.
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