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Overview
Fairmarkit provides a software platform that automates "tail spend," which are the small, non-strategic purchases that companies often overlook. The platform uses machine learning to identify the best vendors and automatically request quotes, allowing procurement teams to manage bids and purchases through a single digital interface. Unlike traditional procurement tools that focus on large contracts, Fairmarkit specializes in high-volume, smaller transactions to reduce manual labor and lower costs. The company's goal is to help large organizations gain control over their total spending by cutting procurement cycle times and finding more competitive pricing for every purchase.
About Fairmarkit
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Series C
Total Funding
$76.6M
Headquarters
Boston, Massachusetts
Founded
2017
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Simplify's Take
What believers are saying
- August 7, 2026 site claims 86% intake-to-award cycle-time reduction and 300% more events.
- Sonoco's January 7, 2025 LATAM rollout reported 15,000 sourcing events and 34x ROI.
- Conduent's July 29, 2025 collaboration widened Fairmarkit into finance analytics buyers.
What critics are saying
- April 29, 2026 private beta delays revenue conversion while customers wait for production access.
- Coupa, SAP Ariba, and GEP bundle sourcing into broader suites, squeezing standalone budgets by 2027.
- If Fairmarkit misses autonomous execution trust, procurement buyers revert to manual ERP workflows.
What makes Fairmarkit unique
- April 29, 2026 Total Agentic Sourcing spans $500 purchases to $500M contracts in one workflow.
- Fairmarkit's native integrations with SAP Ariba, Coupa, Oracle, and ServiceNow reduce switching friction.
- Boeing and Emirates Flight Catering validated 115,000 annual hours saved and 85% cycle-time cuts.
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Funding
Total Funding
$76.6M
Below
Industry Average
Funded Over
3 Rounds
Insight PartnersIndustry standards
Benefits
Flexible working hours
Highest level of development and pure DevOps culture - top technology stack
Skilled and highly motivated teammates, passionate about technologies
Fast decision making process in a company and effective interaction between teams and departments
Possibility to improve the development process and bring your ideas, knowledge sharing between colleagues and teams
Latest MacOs work equipment (macbook)
100% salary sick leaves covering, 20 days of paid vacation
Referral program: we appreciate your recommendations and reward every successful hire
Professional trainings & courses, attendance of conferences & meetups are paid by Fairmarkit
Cute office with a cozy workplace, drinks and snacks
Growth & Insights and Company News
6 month growth
↑ 2%1 year growth
↑ 0%2 year growth
↑ 0%Fairmarkit has launched Total Agentic Sourcing, the first platform deploying AI agents to autonomously source enterprise spending from $500 purchases to $500 million contracts. The platform integrates natively with SAP Ariba, SAP S/4HANA, Coupa, Oracle and ServiceNow. Powered by KIT, an intelligent assistant backed by specialised agents for intake, RFx, supplier matching, evaluation and compliance, the platform adapts to organisational policies and executes complete sourcing workflows. Emirates Flight Catering achieved an 85% reduction in sourcing cycle time, whilst Boeing eliminated 115,000 hours of cycle time annually. The solution includes a 2.7 million supplier marketplace and addresses the challenge that whilst most procurement leaders view AI as crucial, only 12% have moved beyond pilot programmes. Total Agentic Sourcing is currently available in private beta.
Conduent Incorporated (CNDT) has partnered with Fairmarkit, an AI-powered sourcing platform, to enhance its FastCap Finance Analytics solution.
Fairmarkit named to Forbes' 2025 list of America's Best Startup Employers.
Inception, a G42 company specializing in AI-native products, has signed a Memorandum of Understanding (MoU) with Fairmarkit, a U.S.-based leader in procurement sourcing automation.
Fairmarkit, a leading AI-powered autonomous sourcing solutions provider, today announced its expanded partnership with Sonoco, a global leader in high-value sustainable packaging, to streamline procurement operations across Latin America.
Fairmarkit is Hiring for 7 Jobs on Simplify!
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About Fairmarkit
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Series C
Total Funding
$76.6M
Headquarters
Boston, Massachusetts
Founded
2017
Fairmarkit is Hiring for 7 Jobs on Simplify!
Find jobs on Simplify and start your career today