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HighRadius, a provider of cloud-based integrated receivables software solutions, has raised $50 million in growth funding from Susquehanna Growth Equity.
“We have more than 350 clients on our platform powered by Rivana Artificial Intelligence engine and the RadiusOne B2B payment network. This funding will help us accelerate our platform to thousands of companies globally,’’ Sashi Narahari, Founder-CEO, said in a release issued here on Tuesday.
The Hyderabad-based HighRadius, which is a fintech enterprise Software-as-a-Service (SaaS) company, currently employs over 500 people across the US, India, and Europe and works with Global 2000 companies, including adidas, Starbucks, Procter & Gamble, Reckitt Benckiser, Johnson & Johnson, Warner Bros, Danone, Sysco and Zurich.
Amir Goldman, Founder and Managing Director, Susquehanna Growth Equity, said: “Integrated Receivables is an $11-billion market in the early stages of adoption. We love backing bootstrapped companies like HighRadius, which has never raised outside funding, has grown at a 70 per cent CAGR, and continues to be cash-flow positive.”
In conjunction with the investment, Amir Goldman and Ben Weinberg from Susquehanna Growth Equity will join the HighRadius board of directors.
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