Ali Hasan
Integrate AI and Automation with the help of HighRadius
Introduction – HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based Autonomous Systems to help 600+ industry-leading companies automate their Accounts Receivable and Treasury processes.
The HighRadius Integrated Receivables platform reduces cycle times in your order-to-cash process through automation of receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions, and collections.
The HighRadius RadiusOne AR Suite offers a pocket-friendly platform for hundreds of mid-sized businesses to enable faster A/R processing and enhance their working capital. HighRadius Treasury Management Applications help teams achieve touch less cash management and accurate cash forecasting.
Powered by the Rivana Artificial Intelligence Engine and Freeda Digital Assistant for order-to-cash teams, HighRadius enables teams to leverage machine learning to predict future outcomes and automate routine labor-intensive tasks.
Processing over $2.23 Trillion in receivables transactions annually, HighRadius solutions have a proven track record of optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, and increasing operational efficiency so that companies may achieve strong ROI in just a few months.
HighRadius is one of industry’s most preferred solutions for Accounts Receivable & Treasury and has been named a Leader by IDC MarketScape twice in a row. It is headquartered in Houston, Texas, United States of America and was founded in 2006.
Early Days – Initially HighRadius started out as a company that provides on-premise solutions and later transformed itself from time to time. In 2010, they added cloud based solutions, in 2014; they added their own AI named Rivana to their products and services.
In 2017, they introduced strategic investments and in 2019; they added autonomous systems for prediction analysis. Their products provide value to a wide range of customers and are especially relevant to industries like consumer products, manufacturing, distribution, energy, and others that sell products or provide a service to other businesses.
Their customers range from some of the largest global corporations including more than 200 Global 2000 companies as well as mid-size enterprises that don’t have the IT resources to consolidate on an ERP platform but still want to automate and streamline their receivables and treasury processes.
Regardless of what ERP, Accounts Receivable or Treasury Management system you are using, their products automate manually-intensive tasks, streamline communication, and allow standardization of processes to drive best practices into your receivables and treasury processes.
They try to empower their customers to be able to work more accurately and efficiently, forecast and manage cash, get paid faster, and improve key metrics like Days Sales Outstanding (DSO) and improve working capital availability. The company was founded by Sashi Narahari.
Marketing Strategy – HighRadius markets itself as a company that will help your small to mid size businesses in managing their finances through Artificial Intelligence and automation. They claim to have big, giant corporations that use their products and services on a regular basis. They claim that you’ll save a lot of time and effort by using their systems and processes.
User Base & Valuation – HighRadius user base consists of more than 200 Fortune Global 2000 companies. Some of their companies include:-
- Sony
- Uber
- Unilever
- Johnson & Johnson
- General Electric
- Warner Bros
After achieving the unicorn status in January 2020, HighRadius has grown to a valuation of $3.1 billion after completing a Series C fundraise of $300 million in March 2021.
Funding – HighRadius has raised a total of $475 million in funding over 4 rounds. Their latest funding was raised on Mar 30, 2021 from a Series C round. HighRadius is funded by a total of 11 investors.
Frank Slootman and Tiger Global Management are the most recent investors. Their other investors are as follows:-
- D1 Capital Partners
- ICONIQ Growth
- Michael Scarpelli
- Citi Ventures
- Howie Liu
- Susquehanna Growth Equity
Revenues & Losses – Despite a challenging 2020, HighRadius registered a 47% growth in Contracted ARR (Annual Recurring Revenue) compared to the previous year. As of today, the company has grown to 600 customers, including over 200 customers from Forbes Global 2000.
2020 saw the Annual Receivables Processed by the AI-powered Integrated Receivables Platform exceeded $2.23 Trillion. This is the equivalent of the GDP of France, and the transaction volume grew by 74% compared to the prior year.
Acquisitions – So far, HighRadius hasn’t achieved any startups yet.
Controversy – So far, HighRadius wasn’t involved in any major controversy as of now.
Present Time & Future Goals – When HighRadius newly raised funding, they has big plans to fuel its growth. The company said that the funding will further be utilized towards global expansion, including, Americas, Europe and Asia.
“Susquehanna Growth Equity has a proven track record of backing leading financial technology companies, and is a perfect partner for our next stage of growth,” said HighRadius CEO, Sashi Narahari.
In conjunction with the investment, Amir Goldman and Ben Weinberg from Susquehanna Growth Equity will join the board of directors. As stated by Amir Goldman, Founder and Managing Director of Susquehanna Growth Equity, “Integrated Receivables is an $11 billion market in the early stages of adoption.
HighRadius is the clear leader in receivables-focused SaaS solutions for large enterprises and the only cloud-based platform that covers the full range of functions and processes. We love backing bootstrapped companies like HighRadius, which has never raised outside funding, has grown at a 70% CAGR, and continues to be cash flow positive.”
Conclusion – To sum it up, HighRadius is a company that will help your small to medium business to manage all the financials with the help of AI and automation. Hence if you’re a small business owner, do make the most of it to scale your business exponentially with the help of these companies. For more news on Startups, stay tuned to StartupTrak.
