What is Arkestro?
Founded in 2017, Arkestro—formerly known as Bid Ops—operates at the intersection of artificial intelligence and enterprise procurement. The platform functions as an automated bid management engine, enabling organizations to streamline complex sourcing events and secure superior commercial terms with their supply partners. By replacing manual, fragmented procurement processes with a centralized, data-intelligent interface, Arkestro empowers enterprises to achieve significant bottom-line improvements. Its market position is defined by its ability to integrate seamlessly into existing ERP environments, providing actionable insights that drive competitive advantage in increasingly volatile global 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 New Enterprise Associates, Construct Corps, and Koch Disruptive Technologies
Other Financing Round (2025): $36M supported by Saudi Aramco Energy Ventures, Altira Group, KdT Ventures, and New Enterprise Associates
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.
Saudi Aramco Energy Ventures
Aramco Ventures is the venture capital arm of Aramco, an integrated energy and chemicals company based in Dhahran, Saudi Arabia.
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.
What's next for Arkestro?
With this major strategic investment, Arkestro is well-positioned to accelerate its product roadmap and expand its footprint in the enterprise procurement sector. The company is expected to focus on scaling its AI capabilities to handle more complex, multi-tier supply chain negotiations while deepening its integration with global industrial and energy-sector partners. As the firm transitions from its earlier growth phases into a more mature enterprise-level operation, the focus will likely shift toward global market penetration and the development of predictive analytics tools that anticipate supply chain disruptions before they impact commercial outcomes.
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