HighRadius, a provider of artificial intelligence-powered order-to-cash and treasury management software, has raised US$125m in a Series B growth funding round led by ICONIQ Capital, with participation from existing investors Susquehanna Growth Equity and Citi Ventures. The new capital will be used to accelerate HighRadius’ continuing platform development and expansion of the company’s geographic reach.

HighRadius is headquartered in Houston, Texas and currently counts over 400 clients, including more than 200 of the Forbes Global 2000. The HighRadius integrated platform for accounts receivables and treasury management leverages native AI capabilities to help companies optimise working capital.

The HighRadius platform includes:

• Rivana AI engine with machine learning algorithms trained on over US$1 trillion in receivables per annum to automate routine tasks and provide insights such as predicting invoice payment dates.
• Autonomous Receivables, an enterprise software with a touch and voice user interface. This is powered by the Freeda Digital Assistant, which brings the ‘human + machine’ real-time interaction experience to corporate users.
• AI-powered cash forecasting to fundamentally shift treasurers away from sub-optimal financing decisions made due to a lack of confidence in current Excel-based heuristic models.

“As we have seen in many of our portfolio companies and past investments, including BlackLine and Coupa, digital transformation is increasingly a CFO priority,” said Will Griffith, partner at ICONIQ Capital. “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 was advised by Atlas Technology Group for this transaction.