HighRadius wants to transform CFOs' offices with AI software
HighRadius, an AI software developer for the fintech sector, has reached a new valuation of $3.1bn following a $300m Series C funding round.
HighRadius specialises in SaaS automated accounts receivable and treasury systems. These platforms help reduce order-to-cash cycle times by streamlining credit, billing, payment processing, and more.
Transforming CFO roles with AI
“Our mission at D1 is to back visionary entrepreneurs as they solve large, pressing problems,” stated Daniel Sundheim, Founder of D1 Capital. “Offices of the CFO have historically relied on antiquated, analogue 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.”
John Curtius, Partner at Tiger Global, agreed, “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.”
Already used by over 600 clients, 200 of which are in the Fortune 2000, HighRadius appears to be well-positioned for meeting its investors’ expectations. The company was also recently listed in Forbes’ .
“Our goal has always been to build a long-lasting business that outlasts all of us,” said Sashi Narahari, Founder and CEO of HighRadius.
“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 AI built on top of connected finance workspaces and embedded analytics.”
Video source: HighRadius
The FinTech Show: Bitcoin, crypto mining, and payments
In episode six of the FinTech Show (originally broadcast live on 11 June at 2pm BST), Scott Birch and Will Girling discuss:
- El Salvador becoming the first country to make Bitcoin legal tender
- China's decision to clamp down on crypto mining operations
- The new developments in post-COVID payments, including the EU's decision to give every citizen a digital wallet
We also explore the newly released June '21 edition of FinTech Magazine, including a special look at our profile piece on HOOPP and the future of small business lending (guided by iwoca). Special thanks go to Valeria Simantob for providing the front cover of that issue.
Before you go! Follow us on LinkedIn and make sure to tune in on 25 June for the next FinTech Show.