Arkestro Secures $36M to Boost AI-Powered Procurement

Arkestro has announced a $36 million strategic investment led by Altira Group and Aramco Ventures to enhance its AI-driven procurement platform.

Arkestro has announced a strategic investment of $36 million, led by Altira Group and Aramco Ventures, announced in a press release. This funding aims to accelerate the development of Arkestro's AI-powered Predictive Procurement Platform, which is designed to optimize enterprise spending and enhance supply chain resilience.

The investment also saw participation from existing investors, including NEA, KDT, and Activant Capital. Arkestro's platform leverages AI, behavioral science, and game theory to streamline procurement processes, offering an average cost saving of 18.8% on every $1 million spent.

With this new funding, Arkestro plans to expand its capabilities and reach more enterprises globally, helping them transform procurement into a strategic, revenue-driving function. The company has rapidly grown its customer base, including Fortune 500 companies, by providing tools that enhance supplier collaboration and decision-making efficiency.

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