HighRadius Reports Continued Momentum in Accounts Receivables and Treasury Management Software
- Registered 47% YoY growth in Annual Recurring Revenue
- Exceeded 600 customers, including over 200 from Forbes Global 2000
- HighRadius AI-powered platform surpassed $2.23 trillion in annual receivables processed
- Grew to over 2500 HighRadians across six office locations across the US, EMEA, and Asia
HOUSTON–(BUSINESS WIRE)–#AccountsReceivable—HighRadius, the Artificial Intelligence-powered Order-to-Cash, and Treasury Management software leader, today announced business performance and growth over the last year. After achieving the unicorn status in January 2020, HighRadius has grown to a valuation of $3.1 billion after completing a Series C fundraise of $300 million in March 2021. The investment was led by D1 Capital and Tiger Global with participation from existing investors ICONIQ Growth and Susquehanna Growth Equity.
While sharing the results, Sashi Narahari, Founder and CEO, said, “We are squarely focused on building a long-term business that outlasts all of us. And we can only do this by consistently delivering on customer value, technology leadership, and revenue growth. The last year had its challenges, and I would like to thank 2500+ HighRadians for their grit and perseverance.”
Customer & Revenue Growth
- Despite a challenging 2020, HighRadius registered a 47% growth in Contracted ARR (Annual Recurring Revenue) compared to the previous year.
- As of today, HighRadius has grown to 600 customers, including over 200 customers from Forbes Global 2000.
- 2020 saw the Annual Receivables Processed by the HighRadius AI-powered Integrated Receivables Platform exceed $2.23 Trillion. This is the equivalent of the GDP of France, and the transaction volume grew by 74% compared to the prior year.
Product & Technology Leadership
- Received numerous awards and recognition, including being named to Forbes Cloud 100 and the CB Insights Fintech 250
- The IDC MarketScape for Accounts Receivable Software (Enterprise and Mid-Market editions) identified HighRadius as a Leader, the second time in a row.
- Significant product expansion led by the launch of the RadiusOne A/R Suite for midsized businesses and HighRadius AI-powered Cash Forecasting for Enterprise Treasury Management.
Continued European Expansion
- Continued growth in Europe by adding offices in Frankfurt and Amsterdam in 2020.
- Europe-based, client-facing headcount in sales, marketing, consulting, and customer value increased by 81% compared to the prior year.
About HighRadius Corporation
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The HighRadius® Integrated Receivables platform reduces cycle times in your order-to-cash process through automation of receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions, and collections. HighRadius® Treasury Management Applications help teams achieve touchless cash management, accurate cash forecasting, and seamless bank reconciliation. Powered by the Rivana™ Artificial Intelligence Engine and Freeda™ Digital Assistant for order-to-cash teams, HighRadius enables teams to leverage machine learning to predict future outcomes and automate routine labor-intensive tasks. HighRadius solutions have a proven track record of optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, and increasing operational efficiency so that companies may achieve strong ROI in just a few months. To learn more, please visit www.highradius.com.