What is Arkestro?
Founded in 2017 and formerly known as Bid Ops, Arkestro operates at the intersection of artificial intelligence and procurement. The company's core offering is an AI-driven platform designed to automate the bidding process, enabling procurement teams to secure superior commercial terms from their suppliers. Headquartered in San Francisco, California, Arkestro addresses a critical business need by leveraging advanced technology to enhance efficiency and cost-effectiveness in supply chain negotiations. The platform's capabilities are geared towards helping enterprises optimize their spend and build stronger supplier relationships through data-driven insights and automated workflows.
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, Altira Group, and Saudi Aramco Energy Ventures
Key Investors in Arkestro
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. They often provide the first institutional check into companies, leading or co-leading pre-seed and seed funding rounds.
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.
Altira Group
Altira Group LLC is a venture capital firm that specializes in funding energy technology products and services. The company partners with innovative entrepreneurs to drive advancements in the energy sector, leveraging a vast network of industry leaders.
What's next for Arkestro?
With the recent major strategic investment and a substantial total funding amount of $63.8M, Arkestro is poised for accelerated development and market penetration. This infusion of capital is expected to fuel further innovation in its AI capabilities, enhance its platform's scalability, and expand its go-to-market strategy. The company's focus on providing market-leading commercial terms through automation positions it to capture a larger share of the procurement technology market. Future endeavors will likely involve deepening its enterprise client base and potentially exploring new verticals within supply chain management, solidifying its role as a key player in procurement transformation.
See full Arkestro company page
