HighRadius raises $125m

HighRadius raises $125m

HighRadius, a startup specialising in AI-powered order-to-cash and treasury management software, has joined the unicorn club thanks to a $125 million Series B round led by Iconiq Capital and joined by Citi Ventures and Susquehanna Growth Equity.

Houston-based HighRadius provides its integrated platform for accounts receivables and treasury management to more than 400 firms, including Citi and Bank of America Merril Lynch.

The system optimises cash flow through automation of receivables and payments processes across credit, collections, cash application, deductions, electronic billing and payment processing. AI is used to automate tasks - such as extracting remittance data - that normally require human intervention.

Will Griffith, partner, Iconiq Capital, says: "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."

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