Arkestro, a San Francisco, CA-based the leading Predictive Procurement Orchestration platform, has announced that it has closed a $26 million Series A funding
The round was led by NEA, Construct, Koch Disruptive Technologies (KDT), and Four More Capital, a Henry Crown & Company division, with participation from existing seed vendors Cervin, Correlation, El Cap, Forum, Illuminate, and Tenacity.
This fresh funding will be used to accelerate growth, enabling Arkestro to further help customers amplify the impact of procurement's influence across their enterprises using behavioral science, game theory, and predictive machine learning models applied at a massive scale.
Company: Arkestro, Inc.
Round: Series A
Funding Month: June 2022
Lead Investors: NEA, Construct, Koch Disruptive Technologies (KDT), and Henry Crown & Company
Additional Investors: vendors Cervin, Correlation, El Cap, Forum, Illuminate, and Tenacity
Company Website: https://arkestro.com/
Software Category: Predictive Procurement Orchestration platform
About the Company: Led by Edmund Zagorin, CEO, Arkestro provides a Predictive Procurement Orchestration platform used by brands including Bel Brands, Box, and Holman Enterprises, to boost both savings and supply chain performance – including quality, lead time, and on-time in full (OTIF) metrics. It offers machine learning-powered predictive pricing, which enables buying teams to negotiate with and manage more suppliers. The company also provides external validation and improved data quality for every single purchase order, and unifies data for real-time visibility across suppliers, spending, and contract terms, including diversity, environmental, social, and governance (ESG) analysis.