Pactum AI offers a suite of autonomous negotiation tools for commercial term negotiations, contract cost negotiations, and purchasing negotiations to facilitate personalized, large-scale deals between enterprises and suppliers. The company was founded in 2019 and is based in Mountain View with engineering and operations in Estonia. Pactum markets software that conducts and optimizes negotiations autonomously, targeting procurement and supplier-management workflows. The firm will use the new funding for research and development in autonomous negotiations, to enhance user experience, and to support initiatives such as the Autonomous Negotiations Academy. Financially, the company has raised a total of $55 million to date following this latest round. No revenue or user metrics were disclosed in the article. Pactum provides a negotiation platform that leverages intelligent bots, advanced mathematical models, cognitive science, and best-in-class negotiation techniques to engage third parties and secure better pricing, payment terms, and supply continuity. Its solution digitizes personalized commercial negotiations at scale, enabling enterprises to negotiate with thousands of suppliers rapidly and repeatedly. Pactum reports average savings of 3%–5% when fully deployed and says it helps unlock working capital, reduce spend, and increase team productivity. The company works with $5B+ revenue customers, including Walmart, Maersk and Wesco. Pactum is experiencing its strongest period of growth on record amid ongoing market uncertainty. It is based in Mountain View, California, with engineering and operations in Estonia, and plans to further expand in the U.S. and Europe while investing in logistics, intelligent contract optimization and retail item-level merchandising operations. Pactum builds an AI-powered Negotiation-as-a-Service platform that automates and optimizes commercial contract negotiations, able to renegotiate agreements in as little as 15 minutes. The product integrates data and priorities from both sides to generate win-win deals and focuses on adding value to the bottom line rather than solely cutting labor costs. Pactum reports that in a single department within a Fortune 500 company its offering unlocked $1.5 million in working capital on a monthly basis. The company cites broad market inefficiencies—KPMG estimates 17%–40% of vendor deal value is lost during negotiation—as the opportunity its technology addresses. Pactum targets Fortune 500 procurement teams initially but plans to expand access to all businesses over time. The company intends to use new funding to scale deployment, grow headcount, and establish more partnerships with major organisations. Pactum is an AI-based platform that enables global companies to automate personalized commercial negotiations on a massive scale. The system combines a negotiation chatbot with Pactum’s negotiation scientists, beginning each project by mapping a “value function” and autonomously conducting best-practice negotiations. Once a negotiation is complete, Pactum updates information automatically in relevant systems such as ERP and CRM. The web-based tool is applied to supplier negotiations for online marketplaces as well as enterprise and retail procurement, and a majority of its clients are Fortune 500 companies; Walmart is one of the first disclosed customers. On average 74%–82% of companies interacting with Pactum’s AI prefer it over a conversation with a human, and recent customers saw long-tail deals increase in value by 11%–27%. The company is based in Mountain View with engineering and operations in Estonia, was founded in 2019, and is backed by founders of Skype and TransferWise along with investors including DocuSign and Project A. Pactum offers a web-based AI system that autonomously conducts personalized commercial negotiations via an auto-generated chat-like interface. The platform evaluates agreement terms, suggests win-win trade-offs based on historical data, and produces contracts ready for review and sign-off. Its applications include supplier negotiations for online marketplaces, enterprise procurement, and retail procurement, enabling thousands of parallel automated negotiations. The company says the system shortens a process that used to take days to an average of 15 minutes. Pactum has filed a patent related to its technology and raised an initial $1.15 million in pre-seed funding to augment negotiation and AI capabilities and scale operations. The team includes engineers and operators from Skype, Monsanto, the Estonian e-Residency program, and Starship, and the company is backed by tech luminaries including founders of Skype and TransferWise.

Total raised

$55M

Funding rounds

5

Latest round

Series B

Latest activity

Jul 2024