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About Arkestro
Industries
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Series B
Total Funding
$102.3M
Headquarters
San Francisco, California
Founded
2017
Overview
Arkestro specializes in Predictive Procurement Orchestration (PPO), using artificial intelligence to improve procurement processes for businesses. The platform helps companies quickly collect and compare quotes from suppliers, enabling faster and more informed purchasing decisions. Arkestro primarily targets large global companies that need to enhance their supply chain efficiency, especially during disruptions. The software-as-a-service (SaaS) model allows clients to subscribe to the platform, which integrates with their existing systems to automate procurement tasks and provide predictive insights. This approach saves time and allows procurement teams to focus on strategic activities. Arkestro differentiates itself by offering AI-driven tools that lead to significant cost savings and efficiency improvements for its clients.
Simplify's Take
What believers are saying
- Arkestro secured $36M funding to accelerate AI-driven procurement innovation and global growth.
- Partnership with Infor Marketplace enhances procurement efficiency for over 60,000 organizations globally.
- A multinational energy company achieved 20% cost reduction using Arkestro's platform.
What critics are saying
- Increased competition from AI-driven platforms could erode Arkestro's market share.
- Rapid AI advancements may render Arkestro's offerings obsolete if innovation lags.
- Economic downturns could impact Arkestro's subscription-based revenue model.
What makes Arkestro unique
- Arkestro uses AI to streamline procurement, reducing manual data collection and analysis.
- The platform integrates seamlessly with existing systems, enhancing procurement efficiency and decision-making.
- Arkestro's Predictive Procurement Orchestration offers faster savings and real-time collaboration for businesses.
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Funding
Total Funding
$102.3M
Above
Industry Average
Funded Over
3 Rounds
New Enterprise AssociatesIndustry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
401(k) Company Match
401(k) Retirement Plan
Unlimited Paid Time Off
Flexible Work Hours
Remote Work Options
Home Office Stipend
Professional Development Budget
Growth & Insights and Company News
6 month growth
â -2%1 year growth
â -2%2 year growth
â -2%Arkestro, a frontrunner in predictive procurement technology, has announced a substantial $36 million funding round, strategically led by Altira Group and Aramco Ventures, with contributions from existing investors including NEA, KDT, and Activant.
Arkestro has secured a $36 million strategic investment to accelerate its predictive procurement innovation, as reported by PR Newswire.
Arkestro has secured a $36 million strategic investment led by Altira Group and Aramco Ventures, with participation from NEA, KDT, and Activant. This funding will accelerate Arkestro's innovation in AI-powered procurement technology, enhancing supply chain resilience and operational efficiency. The investment supports Arkestro's global growth, enabling procurement teams to drive profitability and resilience. Arkestro's platform is used by Fortune 500 companies to optimize procurement processes.
**San Francisco**: Arkestro appoints Alan Turfe and Edwin Bennett to its Executive Advisory Board, aiming to strengthen its strategic direction amidst evolving global supply chain challenges.
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About Arkestro
Industries
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Series B
Total Funding
$102.3M
Headquarters
San Francisco, California
Founded
2017
There are no jobs for Arkestro right now.
Find jobs on Simplify and start your career today