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.
Company Size
51-200
Company Stage
Series C
Total Funding
$76.6M
Headquarters
Boston, Massachusetts
Founded
2017
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