Freehand AI

AI Teams for Complex Spend Management

Freehand builds AI agents that audit complex enterprise invoices and dispute the parts that shouldn't be there. When a logistics bill arrives with a fuel surcharge or address correction fee, the system pulls the underlying contract, cross-references shipment data, ERP records, and carrier tracking, and then emails or calls the carrier to resolve the discrepancy before payment goes out. The target customer is the Fortune 500 back-office team drowning in charges across logistics, raw materials, MRO, and services, where a single supplier statement can run into eight figures and human reviewers rarely have the proof points to challenge it. The launch marks a $75 million Series B co-led by Battery Ventures and NewRoad Capital Partners, with participation from Nexus Venture Partners and former U.S. Commerce Secretary Penny Pritzker , bringing total funding to $100 million . Freehand is pairing the raise with an unusual commercial promise: if its agents can't surface at least $500,000 in overpaid invoices within 30 days, the company wires the customer $10,000. The pitch leans on prior traction with Meta, Unilever, and Johnson & Johnson across roughly 19 million invoices processed to date. The company was founded in February 2024 by Nitin Jayakrishnan and Abhijeet Manohar, two enterprise logistics veterans who previously co-founded and recently sold Pando, a SaaS transportation management and procure-to-pay system . That background matters here, since the harder problem in accounts payable is less about OCR and workflow than about knowing which line items on a carrier bill are legitimate. Freehand is betting that agents with domain judgment, plus the ability to actually run the back-and-forth with suppliers, can replace the review teams that grew up around global procurement over the last decade.

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