Fairmarkit

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fairmarkit.com/

Location

Headquarters: Boston, Massachusetts, United States, North America

Region: Massachusetts

Country: US

Continent: North America

About

Fairmarkit is a global procurement technology company that provides an autonomous sourcing platform powered by AI agents to help enterprises manage all levels of spend from demand to award. The platform automates sourcing workflows, enables supplier recommendations, and scales procurement across strategic, tactical, and tail spend. It emphasizes AI-driven optimization, speed, and compliance to unlock savings and efficiency for large procurement teams. Fairmarkit serves enterprise procurement teams seeking to source more competitively at scale and to reduce cycle times across various industries.

Fairmarkit provides an autonomous sourcing platform powered by AI agents to help enterprise procurement teams manage spend from demand to award. The platform automates sourcing workflows, enables supplier recommendations, and scales procurement across strategic, tactical, and tail spend categories. It serves large organizations seeking to reduce cycle times and increase efficiency in their procure

Legal Name:

Fairmarkit, Inc.

Founded:

2017

Company Type:

for_profit

Operating Status:

active

Industries

Primary Industry: Software

SoftwareCustom Software & IT ServicesData Collection & Internet Portals

Funding & Financials

Funding Stage:

Series C

Total Funding:

77500000

Revenue:

10m-50m

IPO Status:

private

Investors

Highland Capital PartnersTransform CapitalServiceNowNotable CapitalInsight PartnersOMERS Growth EquityThe New Normal FundNew Stack VenturesNewfund

Founders

Kevin Frechette

Tarek Alaruri

Victor Kushch

Leadership

Kevin Frechette — Co-Founder and CEO

Alex Kleiner — Regional Director, EMEA

Andrew Kenney — VP Engineering

Jeff Richards — Investor

Greg Tennyson — SVP, Strategy & Procurement

Nick Moran — Investor

Victor Kushch — Co-founder and CTO

Amit Fernandes — VP, Product Management

Warda Shaheen — board_observer

Eric Kagan — advisor

Thomas Krane — board_member

Stephen Gregorio — board_member

Lou Shipley — board_member

Technology Stack

DNSSECMobile Non Scaleable ContentIPv6Cloudflare Network Error LoggingCloudflare HostingHSTS IncludeSubdomains PreLoadCrUX Top 50mFacebook SharerApple Mobile Web App Status Bar StyleAmazon S3

Products

Autonomous Sourcing Platform: A cloud-based platform that automates sourcing processes by engaging business users early, managing repetitive spend, and supporting strategic sourcing workflows.

Reverse Auctions: An automated auction system offering Dutch, English, and Japanese auction formats to facilitate competitive bidding and sourcing decisions.

Enterprise Integrations: Bi-directional API and file-based integrations with major ERP and P2P systems to synchronize sourcing data and processes.

Data Analytics and Dashboards: Embedded dashboards providing real-time analytics on sourcing events, spend, savings, and supplier utilization for data-driven procurement decisions.

AI and Machine Learning Capabilities: AI-driven supplier recommendations and sourcing content suggestions powered by machine learning and generative AI models.

Total Agentic Sourcing: An AI-driven sourcing platform that uses KIT agents to autonomously manage tail and strategic enterprise spend with deep ERP integrations.