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Fairmarkit
Intelligent sourcing platform for businesses
- 101-200 employees
- B2B
- Artificial Intelligence
- Deep Tech
- Machine Learning
- SaaS
- Downtown, Boston, MA
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Company mission
To revolutionize the way organisations make purchases.
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
Company values
- Be super positive - Smiles, high-fives, and shoutouts are a part of Fairmarkit's daily routine
- Be an A+ Player - Every team member is accountable, honest, and self-aware. Fairmarkit holds itself to the highest standard
- Be fair - Fairmarkit believes in an equitable future of work. From product to people, they make fairness actionable
- Be team customer - Fairmarkit's customers are part of the team, and vice versa. They do right by their customers
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
Diversity, Equity & Inclusion at Fairmarkit
- Fairmarkit is an equal opportunity employer, and selects individuals best matched for the job based upon job-related qualifications regardless of race, religion, color, creed, sex, sexual orientation, age, ancestry, national origin, gender identity, genetic information, disability, pregnancy, veteran or military status or any other status or characteristic protected by law
- Fairmarkit now have a head of belonging, inclusion and culture.
Articles
Jobs (3)
People, HR, Recruitment
Product
Sales & Account Management