Published May 18, 2021 by Josh Pherigo
Houston-based software firm HighRadius completed the largest venture capital deal in Houston history on March 30 when it raised $300 million in Series C funding. Investors valued the treasury software platform at $3.2 billion, making it one of the 20 most valuable Fintech startups in the U.S., according to PitchBook.
The new valuation catapults HighRadius into elite company among Houston tech firms. Only Compaq (bought by Hewlett Packard for $25B in ’02) and BMC Software (purchased by KKR for $8B in ’18) can claim more lucrative valuations.
Founded in ’06, HighRadius automates accounting and invoicing procedures. The company has 2,300 employees in five countries, including over 200 employees at the head office in Houston.
The company has been in the spotlight since January ’20, when it closed a $125 million VC deal at a $1 billion valuation, giving it unicorn status as a private tech startup worth 10 figures. As of this writing there were 139 unicorns in the U.S., and only two in Texas – HighRadius and The Zebra, an insurance startup in Austin.
An injection of $300 million could draw need software talent to Houston if the company keeps growing here. CEO Sashi Narahari told the Chronicle that HighRadius could go public through an initial public offering in ’22.