Pactum Secures Series C Funding to Drive Agentic AI Adoption
Leading enterprise procurement agentic AI platform Pactum has announced a Series C fundraise of US$54m, following its most successful year to date.
The company, founded in 2019, is a key player in driving agentic AI transformation in procurement, providing innovative and advanced solutions that empower CPOs to use AI agents to complement human teams.
Its agents are trusted by more than 50 of the world’s largest enterprise customers.
The latest funding round is led by global software investor Insight Partners and brings the company’s total funding to date to more than US$100m.
It will help to boost rapidly evolving enterprise procurement functions with agentic AI solutions that support human teams with tasks including negotiations and closing supplier deals at scale.
“This funding represents a significant milestone in our journey,” says Kaspar Korjus, CEO at Pactum.
“It enables us to accelerate the transformation of procurement by empowering professionals to work alongside AI agents, freeing up teams to focus on more strategic and meaningful work.
“With this investment, we can scale our market reach and grow our portfolio of AI agents with new innovations that benefit organisations looking to transform procurement operations into a competitive advantage.”
Pactum: Empowering enterprise procurement
Pactum provides agentic AI solutions that automate contract negotiations between businesses, their suppliers and solutions providers.
These complex negotiations are a critical factor in procurement success and enterprise growth.
However, around 80% of most companies’ commercial agreements are high volume and low value. They also involve multiple suppliers, which makes it challenging for employees to manage effectively and efficiently.
The result of this challenging environment is value left on the table and suppliers going unmanaged.
Pactum is built on the premise that AI can be a superior negotiator. Its Negotiation Suite AI brings automation to complex negotiations in just a few clicks and is capable of finding an agreement for both parties in as little as 15 minutes.
The technology lets procurement teams engage multiple suppliers simultaneously, and is designed to work in line with individual customer strategies, priorities and limits.
Negotiation Suite manages thousands of negotiations, bringing essential clarity and visibility to the world’s largest organisations through a central dashboard and detailed reporting and analytics.
Driving procurement's AI journey
Since being founded in 2019, Pactum has seen significant growth, driven both by the success of its products and the growing appetite for AI across global procurement functions.
The latest investment follows the company's most successful year to date, marked by large-scale achievements across multiple areas. Its platform saw a 489% increase in spend handled by its AI agents, a 2.5x boost in annual recurring revenue and the addition of over 25 new Global 2000 customers, including Honeywell, Novartis and Tetra Pak.
To date, Pactum has empowered more than 50 large enterprises including Walmart, Veritiv, Suez, Linde Group, Global Industrial, Mediclinic, Vallen and Otto with AI agents to deliver savings autonomously with their suppliers.
The largest of these deals was valued at US$140.5m, while the fastest deal was entirely negotiated and signed by Pactum’s AI agents in just 87 seconds.
Key benefits of Pactum's platform including greater value creation through standardisations, improved governance and better productivity for enterprise procurement teams.
For the Fortune 500 companies that use Pactum, the platform unlocks millions in savings, enhances, supplier engagement and increases business velocity. This allows procurement professionals to handle more negotiations, focus on higher level strategic decision making and bring greater value to their organisations.
Josh Zelman, Managing Director at Insight Partners, who joins Pactum's board of directors as part of the investment, states: “Pactum has demonstrated substantial growth, with its differentiated position in the market and impressive capabilities to automate end-to-end procurement processes through AI agents.
"The company is committed to driving greater value for its customers and helping them execute autonomous savings at scale. We look forward to partnering with the team on Pactum’s ongoing growth and solution evolution.”
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