HighRadius Corp bags unicorn tag with $125m funding from ICONIQ

Photo: Bloomberg

The US- and Hyderabad-based software-as-a-service firm HighRadius Corporation has raised $125 million in a Series B round of funding led by ICONIQ Capital, a US-based investment management firm.

The financing round also saw participation from existing investors Susquehanna Growth Equity and Citi Ventures, HighRadius said in a statement. It claims to have bagged the unicorn tag with the latest funding.

The new capital will be used to accelerate HighRadius’ platform development and expansion of the company’s geographic reach, the statement added.

“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,” ICONIQ Capital partner Will Griffith said.

“HighRadius fits squarely into our commitment to investing in best-in-class, long-term technology businesses driven by incredible teams, and we look forward to working alongside Sashi and the rest of the HighRadius team through their next phase of growth.”

Founded by IIT-Madras alumnus Sashi Narahari in 2016, HighRadius is focused on order-to-cash and treasury management software. The company uses an artificial intelligence-based platform to automate accounts receivables and treasury processes. Its products include the Rivana AI engine, autonomous receivables, and AI-powered cash forecasting.

HighRadius Corporation raised an undisclosed amount of funding from Citi Ventures and PNC in February 2018. It raised $50 million from US-based Susquehanna Growth Equity LLC in September 2017 to continue its growth and expansion globally.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.