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.