Arkestro, the Predictive Procurement Platform accelerating enterprise spend transformation, announced a strategic investment totaling $36M.
The investment was led by Altira Group and Aramco Ventures, “with participation from existing investors NEA, KDT, and Activant.”
The investment will accelerate Arkestro’s innovation in AI-powered procurement technology, advancing its mission to “help enterprises unlock hidden savings, reduce supply chain risk, and drive operational efficiency—empowering procurement teams to focus on strategic, high-impact initiatives.”
Arkestro’s Predictive Procurement Platform “leverages AI, behavioral science, and game theory to accelerate procurement cycles, enhance supplier collaboration, and drive an average of 18.8% cost savings on every $1M of spend.”
By integrating Arkestro’s patented three sciences: Negotiation Science, Supplier Science, and Process Science, the platform empowers procurement teams to proactively shape procurement outcomes rather than react to supplier quotes.
Through their investment, Altira Group and Aramco Ventures support Arkestro’s global growth efforts and “recognizes its predictive procurement technology’s ability to reduce risk and enhance supply chain resilience.”
Bruce Niven, Executive MD and Head of Strategic Venturing at Aramco Ventures said:
“Aramco Ventures invests in disruptive technologies that redefine industries, and Arkestro’s Predictive Procurement Platform is doing just that. Arkestro’s approach is transforming procurement into a proactive, strategic function that delivers measurable financial impact. We’re excited to support their growth and help drive the next generation of supply chain innovation.”
Rob DeSantis, CEO and Co-Founder of Arkestro said:
“This strategic investment from Altira Group and Aramco Ventures is a testament to the growing demand for predictive procurement technology that leverages AI and behavioral science to transform supply chain processes.”
They added:
“Procurement teams today are navigating increasingly complex, global challenges, yet legacy processes continue to slow decision-making and leave cost savings untapped. With Altira Group and Aramco Ventures’ support, we will expand our capabilities and bring predictive procurement transformation to even more enterprises looking to drive profitability and resilience in their supply chains. Arkestro enables procurement teams to serve as a revenue-driving function of the business rather than a cost center, and we’re excited to extend our impact even further with this investment.”
In the past year, Arkestro has expanded its customer base, “with energy companies, and global supply chain organizations—using its Predictive Procurement platform to accelerate decision-making, strengthen supplier partnerships, and maximize cost savings.”