What is Arkestro?
Founded in 2017 and formerly known as Bid Ops, Arkestro leverages artificial intelligence to automate the bidding process for procurement teams. The San Francisco-based company empowers businesses to negotiate and secure market-leading commercial terms with their supply partners. By streamlining procurement operations, Arkestro aims to drive efficiency and cost savings within complex supply chains.
How much funding has Arkestro raised?
Arkestro has raised a total of $63.8M across 3 funding rounds:
Angel/Seed
$1.8M
Series A
$26M
Other Financing Round
$36M
Angel/Seed (2019): $1.8M with participation from Illuminate Ventures
Series A (2022): $26M led by Koch Disruptive Technologies, New Enterprise Associates, and Construct Corps
Other Financing Round (2025): $36M supported by KdT Ventures, New Enterprise Associates, Saudi Aramco Energy Ventures, and Altira Group
Key Investors in Arkestro
New Enterprise Associates
Established in 1977 and headquartered in Menlo Park, California. New Enterprise Associates(NEA) is a venture capital firm focused on helping entrepreneurs build businesses.
Construct Corps
Construct Corps is a premier skilled labor construction staffing company, providing qualified workers to commercial, industrial, and residential contractors on a temporary or long-term basis. Offering superior service since 2000, Construct Corps believes there is a right way to do things and that mutual success is the by product of sound principles.
Saudi Aramco Energy Ventures
Aramco Ventures is the venture capital arm of Aramco which is an integrated energy and chemicals company. They are based in Dhahran, Saudi Arabia.
What's next for Arkestro?
The substantial enterprise-level funding Arkestro has garnered, including its recent major strategic investment, positions the company for accelerated growth and market expansion. This capital infusion is expected to fuel further development of its AI capabilities, enhance its platform's reach, and solidify its competitive advantage in the procurement technology sector. The company's trajectory suggests a focus on scaling its operations and deepening its impact on how businesses manage supplier relationships and expenditures.
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