D1 Capital Partners and Tiger Global lead round with ICONIQ Growth and Susquehanna Growth Equity to fuel growth for AI-powered Office of the CFO platform
HighRadius, the Artificial Intelligence-powered Order-to-Cash, and Treasury Management software leader, has raised $300 million in a Series C round at a valuation of $3.1 Billion. The investment was led by D1 Capital and Tiger Global with participation from existing investors ICONIQ Growth and Susquehanna Growth Equity. The round also included investments from tech industry leaders, Frank Slootman, Chairman and CEO of Snowflake; Michael Scarpelli, CFO of Snowflake; Tooey Courtemanche, CEO of Procore Technologies; and Howie Liu, Co-founder and CEO of Airtable. The new capital will be used to fuel product innovation and expand global go-to-market reach.
The HighRadius AI-powered platforms for Order-to-Cash and Treasury Management help more than 600 clients, including more than 200 of the Forbes Global 2000, optimize their working capital. HighRadius was recently named to the Forbes Cloud 100 and identified as a Leader in both the Enterprise and the Mid-Market editions of the IDC MarketScape for Accounts Receivable Software.
Sashi Narahari, Founder and CEO of HighRadius, said: “We are excited to have D1 Capital Partners and Tiger Global join our existing investors, Susquehanna Growth Equity and ICONIQ Growth. Our goal has always been to build a long-lasting business that outlasts all of us. 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.”
“Our mission at D1 is to back visionary entrepreneurs as they solve large, pressing problems,” said Daniel Sundheim, Founder of D1 Capital Partners. “Offices of the CFO have historically relied on antiquated, analog processes and infrastructure to manage their accounts receivable and treasury functions. HighRadius is a clear leader in driving digital transformation in the Office of the CFO. We have been impressed by Sashi and his team’s long-term focus and look forward to joining the company’s journey.”
“HighRadius is in the opening innings of defining the next big software market for the Office of the CFO,” said John Curtius, Partner at Tiger Global Management. “HighRadius bears all of the signs of being a ‘category defining’ business for Order-to-Cash automation. We are thrilled to join the HighRadius team for the ride.”
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