Fairmarkit
Autonomous sourcing for all spend
- 101-200 employees
- B2B
- Artificial Intelligence
- Deep Tech
- Machine Learning
- SaaS
- Downtown, Boston, MA
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Company mission
To enable organizations to purchase the goods and services they need in the most efficient way possible.
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 digitizing 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. Alongside this, it's also been recognised on the Forbes' 2025 List of America's Best Startup Employers, the fourth year in a row for the company to do so.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Paid parental leave
- Equity
- Work flexibility
- Home office stipend
- Sabbatical leave
- Summer Fridays & Holiday Hiberation
- 401k Company match
- Mental health & Mindfulness resources
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
(Co-Founder & CEO)Previously Regional Sales Director at Turbonomic and Account Executive at EMC Corporation. Currently Ambassador at the Sustainable Procurement Pledge.
Viktor Kusch
(Co-Founder & CTO)Previously IT Management Director at Biokon. Currently CEO / CTO at KU64 Inc. / Clever IT systems / marketmech.com
Jobs (4)
People, HR, Recruitment
Sales & Account Management