Source: prnewswire
Arkestro, the premier Predictive Procurement Platform accelerating enterprise spend transformation, today announced a strategic investment totaling $36M. The investment was led by Altira Group and Aramco Ventures, with participation from existing investors NEA, KDT, and Activant. The investment will accelerate Arkestro’s ongoing innovation in AI-powered procurement technology, advancing its mission to help enterprises unlock hidden savings, reduce supply chain risk, and drive operational efficiency—empowering procurement teams to focus on strategic, high-impact initiatives.
“Arkestro cuts through the noise with a pragmatic application of AI technology that gives procurement experts superhuman-like capabilities and reinforces their role as a strategic lever for the enterprise,” said J.P. Bauman, Partner at Altira Group, who has joined Arkestro’s board of directors. “Our seven leading oil & gas partners—together with our co-investors at Aramco Ventures—represent hundreds of billions in procurement spend annually. We’re proud to support Arkestro’s leadership and scaling across the energy and broader industrial markets.”
“Aramco Ventures invests in disruptive technologies that redefine industries, and Arkestro’s Predictive Procurement Platform is doing just that,” said Bruce Niven, Executive MD and Head of Strategic Venturing at Aramco Ventures. “Arkestro’s approach is transforming procurement into a proactive, strategic function that delivers measurable financial impact. We’re excited to support their growth and help drive the next generation of supply chain innovation.”
“This strategic investment from Altira Group and Aramco Ventures is a testament to the growing demand for predictive procurement technology that leverages AI and behavioral science to transform supply chain processes,” said Rob DeSantis, CEO and Co-Founder of Arkestro. “Procurement teams today are navigating increasingly complex, global challenges, yet legacy processes continue to slow decision-making and leave cost savings untapped. With Altira Group and Aramco Ventures’ support, we will expand our capabilities and bring predictive procurement transformation to even more enterprises looking to drive profitability and resilience in their supply chains. Arkestro enables procurement teams to serve as a revenue-driving function of the business rather than a cost center, and we’re excited to extend our impact even further with this investment.”
In the past year, Arkestro has rapidly expanded its customer base, with industry leaders—including Fortune 500 manufacturers, energy companies, and global supply chain organizations—using its Predictive Procurement platform to accelerate decision-making, strengthen supplier partnerships, and maximize cost savings.