CMS INDUSLAW: Advises Freehand on $75M Series B Fundraise

• San Francisco-based enterprise AI company Freehand secured $75 million in a Series B fundraise.
• The funding round was co-led by Battery Ventures and NewRoad Capital Partners, with additional participation from PSP Growth and Nexus Venture Partners.
• CMS INDUSLAW provided legal counsel to Freehand for the transaction, with a team including Partners Winnie Shekhar and Shantanu Singh, and Senior Associate Ravishankar M.
• Freehand develops autonomous AI agents for managing enterprise supply-chain spend, serving major global clients like Meta, Unilever, and Johnson & Johnson.
• The capital raised will be utilized to expand Freehand's AI platform and increase enterprise deployments.

This deal highlights CMS INDUSLAW's expertise in advising on significant Series B venture capital fundraises for AI companies, providing a reference point for firms and in-house counsel involved in similar high-value tech funding transactions.

Freehand, an enterprise artificial intelligence company headquartered in San Francisco, has successfully concluded a Series B fundraise, securing $75 million. This substantial capital injection was co-led by prominent investment firms Battery Ventures and NewRoad Capital Partners, underscoring significant investor confidence in the company's innovative AI solutions.

The funding round also saw participation from additional investors, including PSP Growth and Nexus Venture Partners. The successful completion of this Freehand Series B fundraise legal counsel was provided by CMS INDUSLAW, which advised Freehand throughout the transaction. This deal highlights CMS INDUSLAW's expertise in advising on significant Series B venture capital fundraises for AI companies, providing a reference point for firms and in-house counsel involved in similar high-value tech funding transactions.

Freehand specializes in developing autonomous AI agents designed to optimize enterprise supply-chain expenditure. Their sophisticated platform offers comprehensive management capabilities, encompassing critical functions such as contract enforcement, efficient supplier management, streamlined invoice processing, robust payment workflows, and precise spend reconciliation.

The company's advanced AI platform is already deployed by a roster of leading global enterprises, demonstrating its proven utility and market adoption. Notable clients include industry giants like Meta, Unilever, Johnson & Johnson, Pfizer, Dunkin', and Cardinal Health, showcasing Freehand's impact across diverse sectors. This broad client base underscores the practical application and value proposition of Freehand's enterprise AI solutions.

The legal guidance for Freehand during this pivotal CMS INDUSLAW venture capital deal was spearheaded by a dedicated team from CMS INDUSLAW. The transaction team comprised Partner Winnie Shekhar, Partner Shantanu Singh, and Senior Associate Ravishankar M. Their involvement in this high-profile CMS INDUSLAW Freehand $75M Series B transaction reinforces the firm's standing in advising on complex technology funding rounds.

The newly acquired capital is earmarked to fuel the expansion of Freehand's cutting-edge AI platform and to support further enterprise deployments. This strategic investment will enable the San Francisco-based company to scale its operations and enhance its offerings, solidifying its position in the competitive enterprise AI market. The involvement of lead investors like Battery Ventures NewRoad Capital investment signals a strong belief in Freehand's growth trajectory and its potential to revolutionize supply-chain management through AI.

This deal highlights CMS INDUSLAW's expertise in advising on significant Series B venture capital fundraises for AI companies, providing a reference point for firms and in-house counsel involved in similar high-value tech funding transactions, particularly regarding deal structure and counsel selection.

Source: Original reporting via Bar & Bench