Fairmarkit
Intelligent sourcing platform for businesses
- 101-200 employees
- B2B
- Artificial Intelligence
- Deep Tech
- Machine Learning
- SaaS
- Downtown, Boston, MA
Jump to section
Company mission
To revolutionize the way organisations make purchases.
16% employee growth in 12 months
Our take
Fairmarkit is an automated sourcing platform that helps enterprises make their procurement of goods and services more efficient and cost-effective. By digitising the management of a company’s tail spend and simplifying potential customers ’RFPs (Requests For Purchase), Fairmarkit’s mission is to save companies and their employees valuable time on the processes that a computer can do.
Founded in 2017, Fairmarkit still competes with monoliths in the automated sourcing sector such as Oracle and SAP. Despite this, it has carved out a niche in the market by focusing its energy on the tail-end space of business, an area that it deems underdeveloped.
As a comparatively young company in the intelligent sourcing world, Fairmarkit has been boosted by significant successive funding rounds, showcasing the industry confidence in the company and enabling its plans to double its workforce. The company has also launched a new generative AI-powered tool that automates all processes from intake to sourcing - this is sure to further boost its profile.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Unlimited/take what you need vacation and personal time
- Plan for the future: 401k with up to 1% match
- Health, dental, and vision insurance along with unlimited/take what you need sick day policy
- Cell phone reimbursement
- Commuter benefits
Funding (last 2 of 3 rounds)
Sep 2022
$35.6m
SERIES C
Dec 2020
$30m
SERIES B
Total funding: $76.6m
This company has top investors
Leadership
Kevin Frechette
(CEO)Previously Regional Sales Director at Turbonomic and Account Executive at EMC Corporation. Currently Ambassador at the Sustainable Procurement Pledge.
Tarek Alaruri
(COO & Board Member)Previously Director of Sales Development at Turbonomic and Sales Consultant at OTR Transporation Inc. Currently on the Board Of AdvisorsBoard Of Advisors at Indiana University Luddy School of Informatics, Computing, and Engineering.
Viktor Kusch
(CTO)Previously IT Management Director at Biokon. Currently CEO / CTO at KU64 Inc. / Clever IT systems / marketmech.com
Jobs (5)
Software Engineering
People, HR, Recruitment
Sales & Account Management