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- HighRadius
HighRadius Revenue, Valuation, Funding & Investors
HighRadius is valued at $3.1B as of March 2021.
Last HighRadius valuation
$3.1B
Series C · Mar 2021
Last HighRadius funding round
$300M
Series C · Mar 2021
HighRadius revenue
$70M
Series B · Jan 2020
Key investors in HighRadius
Susquehanna Growth Equity
ICONIQ Capital
Citi Ventures
Tiger Global
D1 Capital Partners
Frank Slootman
About HighRadius
HighRadius is a Houston-headquartered provider of cloud-based autonomous finance software for the Office of the CFO. Its platform automates accounts receivable, treasury, and record-to-report processes for industries including manufacturing, distribution, consumer products, and energy. HighRadius serves over 1,000 enterprises worldwide with AI-driven cash application and credit management tools.
Founded
2006
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$70M (Jan 2020)
Valuation
$3.1B (Mar 2021)
HighRadius Valuation
HighRadius is currently valued at $3.1B, based on its Series C in March 2021.
The $300M round was led by D1 Capital Partners and Tiger Global, with participation from ICONIQ Capital, Frank Slootman, Howie Liu, Citi Ventures, Susquehanna Growth Equity and 2 other investors.
HighRadius' valuation has grown 3.1x from $1B at its Series B in January 2020 to $3.1B in March 2021, across 2 priced rounds.
HighRadius valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Mar 2021 | Series C | $3.1B | - |
| Jan 2020 | Series B | $1B | 14.3x |
HighRadius Revenue
HighRadius' latest recorded revenue is $70M, as of its Series B in January 2020. At a $1B valuation, that implies a 14.3x revenue multiple.
HighRadius revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2020 | $70M | $1B | 14.3x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
HighRadius Funding History
HighRadius has raised a total of $475M across 3 funding rounds.
HighRadius' first fundraising round was a $50M Series A in September 2017. The most recent completed round was a $300M Series C in March 2021.
HighRadius funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2021 | Series C | D1 Capital Partners (lead); Tiger Global (lead); ICONIQ Capital; Frank Slootman; Howie Liu; Citi Ventures; Susquehanna Growth Equity; Tooey Courtemanch; Michael Scarpelli | $300M | $3.1B | HighRadius is an AI-powered SaaS platform for Order-to-Cash and Treasury Management, automating receivables processes like credit management, cash application, e-invoicing, collections, deductions, and payments, as well as cash forecasting and bank reconciliation. The company targets enterprises, including over 200 Forbes Global 2000 customers such as Walmart, Nike, and Procter & Gamble, processing more than $1 trillion in transactions annually as of early 2020. Its Rivana AI Engine and Freeda Digital Assistant enable machine learning-driven predictions and automation to optimize cash flow, reduce days sales outstanding, and improve efficiency. On March 30, 2021, HighRadius raised $300 million in a Series C funding round led by D1 Capital Partners and Tiger Global, with participation from ICONIQ Growth, Susquehanna Growth Equity, and individuals including Frank Slootman, Howie Liu, Michael Scarpelli, and Tooey Courtemanche. The round valued the company at a post-money valuation of $3.1 billion, tripling its prior valuation of over $1 billion from the $125 million Series B in January 2020. This brought total funding to $475 million, which the company plans to use for product innovation and global go-to-market expansion. At the time of the round, HighRadius had surpassed 400 customers and was positioned as a leader in defining the Office of the CFO software market through category-defining Order-to-Cash automation. By April 2021, shortly after the funding, it reported 47% year-over-year growth in Contracted ARR for 2020 despite market challenges, exceeding 600 customers and processing over $2.23 trillion in annual receivables, equivalent to France's GDP, with 74% transaction volume growth. The company had grown to over 2,500 employees across six offices in the US, EMEA, and Asia. HighRadius has been recognized as a Leader by IDC MarketScape and named to the 2021 Forbes Cloud 100 list, underscoring its traction in fintech SaaS for accounts receivable and treasury. Investors highlighted its potential in a massive market, with receivables comprising about 40% of corporate balance sheets, enabling faster collections and better cash management. |
| Jan 2020 | Series B | ICONIQ Capital (lead); Citi Ventures; Susquehanna Growth Equity | $125M | $1B | HighRadius, a Houston-based AI-powered fintech SaaS company, provides integrated platforms for Order-to-Cash and Treasury Management, automating receivables processes like credit, cash application, collections, deductions, and payments, as well as cash forecasting and bank reconciliation. The company serves over 400 customers at the time of the round, including more than 200 Forbes Global 2000 firms such as Walmart, Nike, Procter & Gamble, Citi, and Bank of America Merrill Lynch, processing over $1 trillion in transactions annually. On January 7, 2020, HighRadius raised $125 million in a Series B growth funding round led by ICONIQ Capital (also referred to as ICONIQ Growth), with participation from existing investors Susquehanna Growth Equity and Citi Ventures. This round marked the company achieving unicorn status with a post-money valuation of more than $1 billion. The capital was intended to accelerate platform development and geographic expansion. At the time of the Series B, HighRadius was estimated to have revenue of less than $70 million. The company was positioned as a leader in modernizing the Order-to-Cash space for CFO offices, leveraging AI and machine learning for digital transformation in finance. HighRadius's traction included strong customer loyalty and mission-critical ROI for receivables and treasury teams. Subsequent developments included a $300 million Series C in March 2021 led by D1 Capital and Tiger Global, tripling valuation to $3.1 billion, with participation from ICONIQ Growth, Susquehanna Growth Equity, and notable tech CEOs, bringing total funding to $475 million. By then, customers grew to over 600. |
| Sep 2017 | Series A | Susquehanna Growth Equity (lead) | $50M | - | HighRadius Corporation, a Texas- and Hyderabad-based provider of cloud-based integrated receivables software powered by Rivana Artificial Intelligence, raised $50 million in its first external growth funding round from Susquehanna Growth Equity in September 2017. The platform automates accounts receivable operations including credit, collections, cash application, electronic billing, deductions, and payments to optimize cash flow, reduce days sales outstanding, bad debt, and increase efficiency. At the time, HighRadius served over 350 clients including global names like Adidas, Starbucks, Procter & Gamble, Reckitt Benckiser, Johnson & Johnson, Warner Bros, Danone, Sysco, and Zurich, with more than 500 employees across India, the US, and Europe. Susquehanna Growth Equity founder and managing director Amir Goldman noted the $11 billion integrated receivables market's early adoption stage and praised HighRadius as a bootstrapped company with 70% CAGR growth and cash-flow positivity prior to the investment. The funds were earmarked for global expansion and growth to serve thousands more companies. Amir Goldman and Ben Weinberg from Susquehanna joined the HighRadius board, with Atlas Technology Group acting as financial advisor. This marked HighRadius' initial outside capital after years of bootstrapping, preceding later rounds including a $60 million Series A over late 2017-early 2018, a $125 million Series B in early 2020 at over $1 billion valuation led by ICONIQ Capital with Susquehanna and Citi Ventures participation, and a $300 million Series C in March 2021 at $3.1 billion valuation led by D1 Capital Partners and Tiger Global. |
Who has invested in HighRadius?
9 investors have backed HighRadius across its funding rounds, including Susquehanna Growth Equity, ICONIQ Capital, Citi Ventures, Tiger Global, D1 Capital Partners and Frank Slootman.
Lead investors include D1 Capital Partners, Tiger Global, ICONIQ Capital and Susquehanna Growth Equity.
HighRadius Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Sep 2017 | ||
| 2 | Lead | Jan 2020 | ||
| 2 | Participant | Jan 2020 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Lead | Mar 2021 | ||
| 1 | Lead | Mar 2021 | ||
This data is available for Pro users. Sign up to see all 9 HighRadius investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by HighRadius
HighRadius has acquired 1 company to date.
Last acquisition by HighRadius was on February 11th 2024. HighRadius acquired Cforia for undisclosed valuation.
Latest Acquisitions by HighRadius
| Description | Cforia is a global order-to-cash automation provider founded in 2001. The software suite integrates real-time data from ERP systems including SAP, Oracle, PeopleSoft, and JD Edwards. Key modules cover cash application automation, credit management, collections software, online payments, eBilling portal, and accounts receivable collaboration portal. Cforia handles multi-currency, multi-language, and multi-business unit environments through dedicated data integration connectors. Notable clients include Textron, Thermo Fisher Scientific, Citizen Watch, and NAPA Auto Parts. Full platform implementations occur within one to three months using in-house project resources. |
| HQ Country | |
| HQ City | Los Angeles, CA |
| Deal Date | 11 Feb 2024 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all HighRadius acquisitions and their M&A valuation multiples. Start Free Trial | |
HighRadius Competitors
HighRadius competitors include listed companies like TOTVS, Freee, Sage and Workday, and private ones like Pennylane and Chargebee.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.1B | $318M | $3.8B | 3.2x | ||
| Private | $115M | - | $4.3B | 37.0x | ||
| Publicly listed | $214M | $6M | $1.5B | 4.8x | ||
| Publicly listed | $3.4B | $1B | $12B | 3.9x | ||
| Publicly listed | $9.6B | $1.2B | $48B | 4.7x | ||
| Private | $115M | - | $3.5B | 30.4x |
HighRadius Public Comps
HighRadius is still privately-owned, but its public comps include Kingdee, TOTVS, Money Forward, BILL.com, Vertex, BlackLine, Freee, Digiwin, Yonyou Hong Kong and 74Software.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1B | $95M | 2.7x | 2.5x | 29.9x | 24.2x | |||
| $1.1B | $318M | 3.9x | 3.2x | 13.7x | 12.1x | |||
| $324M | $55M | 6.8x | 5.8x | 39.7x | 34.4x | |||
| $1.7B | $34M | 2.4x | 2.4x | 116.2x | 10.3x | |||
| $748M | $103M | 2.8x | 2.6x | 20.5x | 10.8x | |||
| $700M | $72M | 2.6x | 2.5x | 25.6x | 8.5x | |||
| $214M | $6M | 6.3x | 4.8x | 237.7x | 65.4x | |||
| $363M | $48M | 4.0x | 3.8x | 30.1x | 23.6x | |||
This data is available for Pro users. Sign up to see all HighRadius competitors and their valuation data. Start Free Trial | ||||||||
Common questions about HighRadius
| When was HighRadius founded? | HighRadius was founded in 2006. |
| Where is HighRadius headquartered? | HighRadius is headquartered in Houston, TX, United States. |
| Is HighRadius publicly listed? | No, HighRadius is a private, VC-backed company. |
| What is HighRadius' valuation? | HighRadius was last valued at $3.1B in its Series C in March 2021. |
| How much funding has HighRadius raised? | HighRadius has raised $475M across 3 funding rounds. |
| What was HighRadius' last funding round? | HighRadius' last funding round was a $300M Series C in March 2021, led by D1 Capital Partners and Tiger Global. |
| Who are HighRadius' investors? | HighRadius' investors include Susquehanna Growth Equity, ICONIQ Capital, Citi Ventures, Frank Slootman, Howie Liu, Tiger Global, D1 Capital Partners, Tooey Courtemanch and Michael Scarpelli. |
| What is HighRadius' revenue? | HighRadius' latest recorded revenue is $70M (January 2020). |
| What is HighRadius' revenue multiple? | HighRadius' latest valuation implies a 14.3x revenue multiple ($1B valuation on $70M of revenue). |
| Which companies are comparable to HighRadius? | Companies comparable to HighRadius include TOTVS, Pennylane, Freee, Sage, Workday and Chargebee. |
| How many companies has HighRadius acquired? | HighRadius has acquired 1 company, including Cforia. |
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