The startup says it has reviewed more than 19 million invoices, found unsupported charges that saved clients over $260 million, and now offers a minimum recovery guarantee as it broadens procurement automation.
Freehand has raised $75 million to scale AI agents that handle invoices, supplier negotiations, payments, and other supply-chain tasks for large companies. On July 30, the company said it had raised the funding without disclosing investors, adding fresh details on the scale of its invoice-review business as it pushes beyond invoice management into procurement, payments, and broader enterprise operations. The startup says its system has identified unsupported charges across more than 19 million invoices for clients including Meta, Unilever, and J&J, delivering over $260 million in savings. It also said it now guarantees at least $500,000 in recovered overpayments or will pay clients $10,000. Freehand, which emerged from stealth in February, has previously said its software is deployed at Meta, Unilever, Pfizer, Johnson & Johnson, Dunkin’, and Cardinal Health. Unilever confirmed it adopted the technology for supply-chain work, with Matt Algar, the company’s global vice-president of supply chain, calling it “one of the first full-scale agentic deployments at Unilever” and describing the shift as moving “from software that assists to software that runs our supply chain.” The company is focused on procure-to-pay, the process from purchasing to payment, starting with invoices. Its AI agents review contracts, negotiate supplier rates, detect overbilling, process payments, and reconcile transactions inside enterprise resource planning systems. Freehand has said early customers completed workflows five to seven times faster, cut procure-to-pay cycles by more than 70%, and recovered 5% to 10% of spending in some complex categories, though those figures have not been independently audited. Freehand says its system uses a Category Context Graph, a data structure linking emails and documents with internal transaction records to build a history of decisions, exceptions, and spending within each category. It argues that rising tariffs, taxes, and tighter immigration rules are making traditional outsourcing more expensive, increasing the appeal of automation for finance and supply-chain operations. The company has not disclosed the round’s valuation or whether the financing was equity, debt, or another security.