SaaS-based financial software product provider startup, HighRadius acquires a funding of worth $125 million. This huge raise is made during the Series B round funding led by ICONIQ Capital. The other investors who participated in this activity were Susquehanna Growth Equity and Citi Ventures. If tallied, the total fund raised by HighRadius comes to around $175 million which is currently valued as $1 billion and above. With this, the company became the first startup to step into the unicorn club of the year 2020.

Headquartered in Houston, Texas, with an office in Hyderabad, HighRadius was founded by an IIT Madras alumnus Sashi Narahari in 2006. The startup was bootstrapped for 11 years and raised its first round of funding in 2017.

Referring to this huge achievement, Sashi Narahari, Founder and CEO of HighRadius, said, “marks an important milestone for HighRadius and we’re thrilled to have ICONIQ join us in our vision to modernise the order to cash space. ICONIQ combines patient capital with a long-term vision of investing in category-defining businesses, and the firm has worked with some of the world’s most successful tech entrepreneurs. We are building HighRadius into a self-sustaining, long-term category leader, and ICONIQ is a great partner for us in this journey.”

As per the startup viewpoint, it has on boarded around 400 clients including more than 200 of the Forbes Global 2000 companies. The company has an integrated platform for accounts receivables and treasury management leverages native AI capabilities also through which it intends to help companies optimise working capital.