Arkestro operates a Predictive Procurement Platform that combines AI, behavioral science, and game theory with its patented Negotiation Science, Supplier Science, and Process Science. The platform accelerates procurement cycles, enhances supplier collaboration, and drives an average of 18.8% cost savings on every $1M of spend. Trusted by Fortune 500 manufacturers, energy companies, and global supply chain organizations, Arkestro helps procurement teams influence significantly more spend and become a proactive, results-driven function. The company has been recognized in Gartner’s 2024 Hype Cycle and as a Top Tech – Sourcing provider in Fall 2024 SolutionMap. Arkestro plans to expand its capabilities and bring predictive procurement transformation to more enterprises, with emphasis on the energy and broader industrial markets. The company recently secured new capital to accelerate its AI-powered procurement innovation and global growth. Arkestro offers a self-negotiating procurement platform that simulates procurement processes, suggests pricing and commercial terms, and automates reaching agreements with suppliers. The system combines machine learning, game theory and behavioral science to identify optimal suppliers from a global network and maintain service and supply levels. It serves manufacturing and non-manufacturing customers alike and counts Box as a customer. The company launched in 2017 (originally as BidOps), has around 50 employees, and is aggressively hiring while building a geographically diverse and remote-capable team. Arkestro maintains a major engineering hub in Atlanta and prioritizes diversity and inclusive hiring as it expands the startup and product. Led by Founder and CEO Edmund Zagorin, Bid Ops provides a cloud-based procurement automation platform that automates vendor negotiations for enterprise and public procurement teams using AI. The system creates a target price for each line item that accounts for value-based assessments of a vendor’s qualifications and likely performance on the contract. Procurement executives can use these forecasts to compare and contrast bids and obtain competitive pricing and stronger commercial relationships with growth-oriented vendor partners. The company raised $1.75M in seed funding to support its operations. Bid Ops intends to use the proceeds to continue to expand operations. The platform focuses on improving procurement outcomes through AI-driven price targets and bid comparison tools.

Total raised

$64M

Funding rounds

3

Latest round

Equity

Latest activity

May 2025