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Fairmarkit
Fairmarkit is a Boston-based enterprise software company that offers an autonomous sourcing platform designed to automate procurement processes. Founded in 2017 by Kevin Frechette, Tarek Alaruri, and Victor Kushch, the company focuses on tail spend management, helping organizations efficiently handle smaller purchases while scaling to all categories of spend. Their platform utilizes AI and generative AI agents to streamline sourcing from demand to award, enabling procurement teams to manage ten times more sourcing events per employee and achieve significant savings. The Autonomous Sourcing Platform features tools for competitive bidding, strategic sourcing, and data intelligence, allowing users to analyze spend trends and integrate seamlessly with existing ERP and procure-to-pay systems. Fairmarkit serves large enterprises across various industries, including notable clients like Snowflake, ServiceNow, and BT. With a mission to enhance procurement efficiency and supplier diversity, Fairmarkit is committed to transforming how organizations purchase goods and services.
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$20M