What is Arkestro?
Founded in 2017, Arkestro—formerly known as Bid Ops—operates at the intersection of artificial intelligence and enterprise procurement. The platform provides a sophisticated suite of tools designed to automate the bidding process, enabling procurement teams to secure market-leading commercial terms with their supply partners. By replacing manual, fragmented workflows with a centralized, data-driven engine, Arkestro empowers enterprises to achieve greater transparency and efficiency. Its market position is defined by its ability to integrate seamlessly into existing ERP systems, effectively transforming procurement from a reactive administrative function into a proactive, value-generating strategic asset.
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 New Enterprise Associates, Construct Corps, and Koch Disruptive Technologies
Other Financing Round (2025): $36M supported by New Enterprise Associates, Altira Group, KdT Ventures, and Saudi Aramco Energy Ventures
Key Investors in Arkestro
New Enterprise Associates
Established in 1977 and headquartered in Menlo Park, California, New Enterprise Associates is a venture capital firm focused on helping entrepreneurs build businesses.
Altira Group
Altira Group LLC is a venture capital firm that specializes in funding energy technology products and services, focusing on disruptive technologies that enhance operational efficiency.
KdT Ventures
KdT Ventures is a venture capital firm specializing in early-stage frontier science investing, focusing on transformative technologies in medicine, chemicals, and materials.
What's next for Arkestro?
With this latest infusion of capital, Arkestro is well-positioned to scale its operations and deepen its technological moat. The company is expected to prioritize the expansion of its predictive analytics capabilities, allowing procurement leaders to anticipate market shifts and adjust supply strategies in real-time. Furthermore, the strategic backing from a diverse group of institutional investors suggests a focus on aggressive market penetration and the potential for vertical integration into adjacent supply chain technologies. As the global economy demands greater resilience and cost-optimization, Arkestro's roadmap likely includes enhancing its collaborative features to foster deeper, more agile relationships between global enterprises and their supplier ecosystems.
See full Arkestro company page
