Arkestro provides a predictive procurement orchestration platform aimed at improving supply chain performance metrics, such as quality, lead time, and on time in full (OTIF), as well as achieving cost savings. The platform leverages behavioral science, game theory, and predictive machine learning models and offers features such as predictive pricing, automatic price, and supplier validation on purchase orders and unified real-time supplier data visibility. The company offers its product on a SaaS basis.
Key customers and partnerships
Arkestro’s customers include Materne, Westfall Technik, GoGo Squeez, JLL, Provisur Technologies, Bel Brands, Box, Holman Enterprises, and Dover Chemical Corporation.
The platform also enables integrations with any third-party or custom data source and offers over 1,000 pre-built API integrations. It enables data integrations with enterprise resource planning (ERP) and procure-to-pay (P2P) platforms such as SAP, Oracle, Microsoft Dynamics, Coupa, SAP Ariba, Infor, Jaggaer, Zycus Cognitive Procurement, and Workday.
Funding and financials
In June 2022, Arkestro raised USD 26 million in a Series A round led by NEA, Construct, Koch Disruptive Technologies (KDT), and Four More Capital to accelerate the company’s growth.
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