Freehand Raises $75M to Transform Supply Chains with AI-Powered Accounts Payable

San Francisco-based Freehand has raised $75 million in seed funding to revolutionize accounts payable for large enterprises. Its AI-powered agents automate complex invoice decisions, traditionally a manual and error-prone process. Freehand's technology analyzes contracts and communications to decide whether to pay, dispute, or negotiate invoices. Early deployments with clients like Meta and Unilever have sped up workflows sevenfold and reduced spending by up to 10% through supplier negotiations and fraud detection. The round, led by Battery Ventures and NewRoad Capital Partners, marks a pivotal moment in supply chain finance automation.

The adoption of AI in accounts payable represents a fundamental shift in how enterprises manage their supply chain costs and risks. Freehand's entry into the $20 trillion U.S. supply chain market could redefine the industry's approach to AI integration.