The Founders Who Sold a SaaS TMS Raised $75M to Replace It With Agents — Freehand's Series B
Freehand raised a $75M Series B co-led by Battery Ventures and NewRoad Capital, with Nexus Venture Partners and Penny Pritzker's PSP Growth participating, bringing total funding to $100M (announced July 29, covered by Crunchbase News July 29). Founders Jayakrishnan and Abhijeet Manohar previously built and sold Pando — a conventional SaaS transportation management and procure-to-pay system of record — and their new agents now run inside Meta, Unilever, Pfizer and Johnson & Johnson, recovering 5-10% of spend in some categories. The architecture is the story: instead of a system of record, the IP is a 'Category Context Graph' that stitches unstructured email and document signals to structured ERP data — the same founders concluding the record layer was the wrong product.
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