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HighRadius hits $3.1bn valuation

HighRadius hits $3.1bn valuation

HighRadius, a startup specialising in AI-powered order-to-cash and treasury management software, has hit a $3.1 billion valuation off the back of a $300 million Series C funding round led by D1 Capital and Tiger Global.

Iconiq Growth, Susquehanna Growth Equity and a hot of tech industry people joined the round, which sees HighRadius's valuation grow threefold since a January 2020 Series B.

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.

Sashi Narahari, CEO, HighRadius, says: "I look forward to working with such high-quality long-term investors who share a common vision of transforming the Office of the CFO using a combination of Artificial Intelligence built on top of connected finance workspaces and embedded analytics."

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