14 June 2022

Arkestro Raises $26M in Series A Funding

Arkestro, the leading Predictive Procurement Orchestration platform, recently announced a $26 million Series A round of financing.

The round was led by NEA, Construct, Koch Disruptive Technologies (KDT) and Four More Capital, a division of Henry Crown & Company. Existing investors Cervin, Correlation, El Cap, Forum, Illuminate, and Tenacity participated as well.

 

The company will use the funds to accelerate growth, enabling Arkestro to further help customers amplify the impact of predictive procurement’s influence using behavioral science, game theory and machine learning models applied at a massive scale.

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Why We Invested

Edmund Zagorin, Co-founder and CEO of Arkestro, is a force of nature. We saw in him a unique ability to integrate behavioral and data science to transform procurement of direct and indirect spend for large enterprises. 

We were fortunate to have the opportunity to invest in Arkestro’s seed round after an invitation from Cindy Padnos at Illuminate Ventures. It has been a pleasure to work with Edmund and the team that he has assembled. Ben Leiken, CTO, has a unique ability to convert Edmund’s vision into a market leading product and Rob DeSantis, co-founder of Ariba, has built the strongest GTM teams in the industry. Beyond belief. 

We are so glad to see NEA and Construct, Jeff Immelt, and Koch and Crown Industries, leading industrial conglomerates join the round, a testament to the great future for the company.