What is Fairmarkit?
Founded in 2017, Fairmarkit provides a sophisticated software platform designed to streamline and manage customer procurement data. By automating the purchasing of goods and services, the company enables organizations to achieve greater efficiency and foster healthy market competition among suppliers. Fairmarkit's core value proposition lies in its ability to create a seamless, data-driven experience for both buyers and suppliers, effectively replacing manual, fragmented procurement tasks with a unified, intelligent interface. As an enterprise-focused solution, the platform is engineered to integrate into complex corporate environments, driving significant cost savings and operational agility for its clients.
How much funding has Fairmarkit raised?
Fairmarkit has raised a total of $81.6M across 3 funding rounds:
Series A
$11M
Series B
$35M
Series C
$35.6M
Series A (2019): $11M with participation from Insight Partners
Series B (2020): $35M led by New Stack, GGV Capital, 1984 VC, NewFund, and Insight Partners
Series C (2022): $35.6M supported by Insight Partners, OMERS Growth Equity, GGV Capital, and ServiceNow
Key Investors in Fairmarkit
Insight Partners
A prominent venture capital and private equity firm that specializes in scaling software companies by providing operational support and strategic guidance to portfolio leadership teams.
GGV Capital
A global, multi-stage venture firm with a deep focus on enterprise technology, social internet, and smart tech, known for backing transformative companies across international markets.
OMERS Growth Equity
A growth-oriented investment arm that focuses on transforming mid-sized businesses into industry leaders through long-term partnerships and significant capital deployment.
What's next for Fairmarkit?
With the successful completion of its latest funding round, Fairmarkit is well-positioned to accelerate its product roadmap and deepen its penetration into the enterprise market. The strategic focus will likely center on enhancing the platform's AI-driven automation capabilities and expanding its ecosystem of supplier integrations. As procurement departments increasingly prioritize digital resilience and cost optimization, Fairmarkit's role as a central hub for purchasing intelligence becomes even more vital. The company is expected to leverage this capital to scale its go-to-market operations, potentially targeting new geographic regions and industry verticals that require high-volume, automated procurement solutions to maintain competitive advantage in a volatile global economy.
See full Fairmarkit company page
