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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
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.
Simplify's Take
What believers are saying
- Boeing eliminated 115,000 annual hours; Emirates cut cycle times 85%.
- Procurement teams source 300% more events per buyer with 11% average savings.
- Partnerships with Sonoco and Amazon Business expand Latin America and enterprise reach.
What critics are saying
- Amazon Business integration channels RFQs to its 500,000 suppliers, eroding fees within 12-24 months.
- SAP Ariba and Coupa bundle AI modules, displacing Fairmarkit in 18-36 months.
- Total Agentic Sourcing private beta stalls beyond pilots, triggering investor exit in 6-12 months.
What makes Fairmarkit unique
- Fairmarkit deploys KIT AI agents for full autonomous sourcing from intake to award.
- Total Agentic Sourcing launched in 2026 handles $500 to $500M contracts seamlessly.
- 2.7M supplier marketplace integrates natively with SAP Ariba, Coupa, and Oracle.
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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
↓ -2%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.
Top Performers - Bellwether, BirchStreet Systems, Fairmarkit, Medius, OpusCapita, Periscope Holdings, and Tradogram were awarded "Top Performer" honors.
Fairmarkit is Hiring for 8 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 8 Jobs on Simplify!
Find jobs on Simplify and start your career today