Arkestro
About Arkestro
Arkestro provides predictive procurement orchestration software that utilizes machine learning and behavioral science to optimize procurement cycles and automate decision-making. This technology enables businesses to achieve an average savings of 16% within the first 60 days while increasing the efficiency of their supply chain operations without the need for additional resources.
```xml <problem> Procurement teams often struggle with outdated and inefficient processes that limit supplier engagement, resulting in missed savings opportunities and increased operational costs. Traditional methods lack the agility to adapt to market changes and fail to leverage the wealth of available data for optimal decision-making. </problem> <solution> Arkestro provides a predictive procurement orchestration platform that leverages machine learning and behavioral science to optimize procurement cycles and automate decision-making. The platform analyzes buying patterns and market behaviors to provide direct actions that lead to optimal procurement decisions. By shortening cycle times and enabling more competitive events, Arkestro allows procurement teams to achieve significant savings and increase efficiency without additional resources. The platform integrates with existing systems to automate outcomes and extend the reach of procurement teams across all spend data. </solution> <features> - Machine learning-driven analysis of buying patterns and market behaviors - Behavioral science-backed optimization of procurement cycles - Automated offer suggestions to shorten cycle times - Integration with existing systems for automated execution - Predictive analytics for proactive rerouting of shipments and securing alternative suppliers - Support for multi-supplier, multi-round events with autonomous negotiation </features> <target_audience> Arkestro targets procurement teams within automotive, oil & gas, high-tech manufacturing, and food & beverage industries seeking to improve spend management and reduce costs. </target_audience> <revenue_model> Arkestro generates revenue through a SaaS model based on the volume of spend managed through the platform. </revenue_model> ```
What does Arkestro do?
Arkestro provides predictive procurement orchestration software that utilizes machine learning and behavioral science to optimize procurement cycles and automate decision-making. This technology enables businesses to achieve an average savings of 16% within the first 60 days while increasing the efficiency of their supply chain operations without the need for additional resources.
Where is Arkestro located?
Arkestro is based in San Francisco, United States.
When was Arkestro founded?
Arkestro was founded in 2017.
How much funding has Arkestro raised?
Arkestro has raised 27950000.
- Location
- San Francisco, United States
- Founded
- 2017
- Funding
- 27950000
- Employees
- 102 employees
- Major Investors
- New Enterprise Associates, Plug and Play, Forum Ventures, Correlation Ventures, Right Side Capital Management