Freehand Raised $75M Series B to Run Supply Chain Spend for Meta, J&J and Pfizer With No Headcount Added

Crunchbase News (corroborated by GlobeNewswire release and Freehand's own press page)·high signalXBlueskyLinkedInCopy link

Freehand (the rebranded Pando) announced a $75 million Series B on July 29 co-led by Battery Ventures and NewRoad Capital Partners, with Nexus Venture Partners and former Commerce Secretary Penny Pritzker participating, bringing total funding to $100 million across roughly 50 customers including Meta, Unilever, Johnson & Johnson, Dunkin', Pfizer and Cardinal Health. Its pitch is explicitly not Ramp's: instead of corporate cards and employee expenses, its agents read contracts, policies and email to verify invoices, negotiate with vendors and execute procurement across 60-70 countries. Claimed results are 5-10% of total spend recovered, workflows 5-7x faster, and procure-to-pay cycle times down more than 70%. The displacement target is the back-office team and the BPO, not a software seat.