Omnea, a London, UK-based AI-powered procurement orchestration and supplier risk management platform, has raised $20 million in Series A funding. 

The company also announced new AI capabilities and advanced third-party risk management features to streamline supplier lifecycle management. 

Investors 

The funding round was led by Accel, with contributions from First Round Capital, Point Nine, and several notable angel investors. Accel is a global venture capital firm that partners with exceptional teams from inception through all phases of private company growth. 

Omnea Use of Funds 

The company will use the funding to triple the team by 2025, boost R&D and go-to-market efforts, and expand into the U.S. market. 

About Omnea 

Founded in 2022 by Ben Freeman and Ben Allen, Omnea provides an end-to-end AI-powered procurement orchestration and supplier risk management platform designed to streamline and automate the procurement process for businesses. The platform automates the supplier lifecycle, enhancing spending control while reducing risks associated with procurement. Omnea utilizes no-code solutions to automate procurement workflows. Notable clients using Omnea include AlphaSights, McAfee, Onfido, and TeamViewer. 

Funding Details 

Company: Omnea Limited 

Amount Raised: $20.0M 

Round: Series A 

Funding Date: October 2024 

Lead Investor: Accel 

Additional Investors: First Round Capital, Point Nine, angel investors 

Company Website: https://www.omnea.co/  

Software Category: Procurement Orchestration and Supplier Risk Management 

Source: https://www.omnea.co/press-releases/series-a-announcement