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About Arkestro
Industries
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Early VC
Total Funding
$101.2M
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 generates revenue through subscription fees, offering tools that lead to cost savings and improved efficiency for its clients.
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Simplify's Take
What believers are saying
- Arkestro secured $36M to accelerate AI-powered procurement innovation and global growth.
- Partnership with Infor Marketplace enhances procurement transformation for over 60,000 organizations.
- Arkestro's platform delivers significant cost savings, with a 20% reduction in procurement margins.
What critics are saying
- Increased competition from AI-driven platforms could erode Arkestro's market share.
- Rapid AI advancements may require continuous R&D investment to maintain competitiveness.
- Concerns about PPO's learning curve and cost may deter potential clients.
What makes Arkestro unique
- Arkestro uses AI to streamline procurement, reducing manual data collection and analysis.
- The platform offers predictive insights, enabling faster, informed buying decisions at scale.
- Arkestro's SaaS model integrates seamlessly with existing systems, enhancing procurement efficiency.
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Funding
Total Funding
$101.2M
Above
Industry Average
Funded Over
2 Rounds
New Enterprise AssociatesBenefits
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
↑ 2%1 year growth
↑ 2%2 year growth
↑ 3%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.
Leading predictive procurement platform expands Executive Advisor Board to shape the company's strategic direction SAN FRANCISCO, March 20, 2025 /PRNewswire/ -- Arkestro, the premier Predictive Procurement Platform accelerating enterprise spend transformation, announces two newly appointed industry leaders to its Executive Advisory Board. Arkestro's executive advisors provide strategic guidance and foster ongoing innovation throughout the company. As supply chains and procurement grow increasingly complex in the face of global challenges, the Executive Advisory Board serves to ensure Arkestro remains strategically positioned and innovative in an evolving market.Arkestro's new advisors include:
Global integrated energy leader has selected Arkestro's Predictive Procurement Platform to deliver dramatic cost savings and mitigate riskSAN FRANCISCO, Feb. 26, 2025 /PRNewswire/ -- Arkestro, the leading Predictive Procurement Platform announced today that a leading multinational energy company has entered into a global multi-year enterprise agreement to deploy Arkestro's platform across the entirety of its global supply chain operations, including upstream, downstream, midstream, and retail. This agreement was reached after a rigorous evaluation and fast implementation process, delivering tens of millions of material dollar value, driving a measurable impact on earnings per share through hard savings and transformational improvement in performance and operational agility across multiple priority commodity types. This global energy leader continues to extend its use of Arkestro, removing outdated and inefficient processes that leave margin on the table. Their team has unlocked an impressive 20+% cost reduction in procurement margins. This ongoing partnership highlights how predictive procurement drives efficiency and its cost-effective impact within complex, global procurement environments
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About Arkestro
Industries
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Early VC
Total Funding
$101.2M
Headquarters
San Francisco, California
Founded
2017
There are no jobs for Arkestro right now.
Find jobs on Simplify and start your career today
People Also Viewed
Discover companies similar to Arkestro