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Arkestro
Procurement spending orchestration platform
- 21-100 employees
- B2B
- Artificial Intelligence
- Enterprise
- SaaS
- Accounting
- Procurement
- Bernal Heights, San Francisco, CA
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Company mission
The mission of Arkestro is to amplify the impact of procurement’s influence.
183% employee growth in 12 months
Our take
Procurement has slowly gone under a digital transformation over the last couple of decades. That means moving from phone books to digital marketplaces and enterprise resource planning (ERP) software, famously led by SAP. The chief benefits of a software-based approach were transparency and record-keeping.
Arkestro uses AI to take a much more proactive approach. Through machine learning, game theory and behavioural science Arkestro simulates a procurement process before it begins. From there it can suggest pricing and commercial terms to all parties and reach agreements much faster.
Where procurement and supply chain is today, is in many cases on the front lines C-suite level issues like sustainability or dealing with sanctions. The next stage of Arkestro’s growth will be about expanding the company’s technology to deal with these different problem-sets.
While that’s no small challenge, new investment from groups like KDT and Koch Industries should help. They have numerous investments and operations across the supply chain which can help Arkestro embed and experiment with its product as it grows.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- We are highly supportive of flexible work hours
- Every employee has access to a $1000 annual learning + development budget
- Generous 401k matching and healthcare, dental, and vision plans
- We are a remote-first team (office presence in San Francisco and Atlanta), but we like to get together for team building, design sprints, and customer visits
- Competitive salary and startup equity
- Unlimited PTO
Company values
- Thoughtful | We ask what, why, how, who, and when and always have an exciting Plan B
- Proactive | We anticipate other people’s needs and always ask how we can improve
- Accountable | We say what we do and we do what we say
- Collaborative | We work with empathy and compassion towards shared objectives
- Visionary | We influence incentive systems to create impact at a planetary scale
Funding (last 2 of 3 rounds)
Mar 2023
$40.3m
EARLY VC
Oct 2022
$35m
EARLY VC
Total funding: $101.3m
This company has top investors
Leadership
Edmund Zagorin
(CEO & Co-founder)Prior to founding Arkestro, Edmund worked as a consultant focused on data-driven supplier negotiations for large healthcare providers, contract manufacturers and multi-campus retail brands.
Rob Desantis
(Co-founder)A former co-founder of Ariba, Dibbs Technology and TrueParity. Was also an early angel investor & board member of LinkedIn. More recently, Rob served as an investor and advisor to a small portfolio of companies including Bloom Energy, AEye, Inc., HiQ Labs, Agiloft, USEND and more.