About Fairmarkit
Fairmarkit is a Technology company based in Boston (United States) founded in 2017 by Victor Kushch. Cloud-based tail spend management is delivered for business procurement. Fairmarkit has raised $77.49 million across 4 funding rounds from investors including ServiceNow, GGV Capital and Insight Partners. The company has 102 employees. Its website fairmarkit.com draws about 135 thousand monthly visits. Fairmarkit offers products and services including Autonomous Sourcing Platform, Supplier Recommendations, and Integrations. Its focus areas include FinTech, Finance & Accounting Tech, Accounting Solutions and Procure to Pay. Its competitors include Globality, Tropic and supplier.io; 2 of its 3 listed competitors have raised funding.
Company details
Fairmarkit was founded in 2017 in Boston, United States, as a cloud-based platform focused on tail spend management within the procurement sector. Advanced machine learning is utilized to offer visibility and control over tail spend processes. Automation is applied to RFQ handling, vendor recommendations, and real-time monitoring. Additional features include request management, process automation, and reporting tools for enterprise use.
- Headquarters Boston, United States
- Employees 102
- Founders Victor Kushch
- SectorsTechnology
- Website category Business and Consumer Services · Business Services
- Email••••••••
- Website fairmarkit.com
- Social LinkedIn X Facebook
- Total Equity Funding$77.49M (USD)
in 4 rounds
- Latest Funding Round$35.6M (USD), Series C
Sep 2022
- InvestorsServiceNow
& 8 more
- Employee Count102
Products & Services of Fairmarkit
Fairmarkit offers a comprehensive portfolio of products and services, including Autonomous Sourcing Platform, Supplier Recommendations, and Integrations.
Automates workflows for efficient spend management and supplier selection.
Identifies best-fit suppliers for sourcing events and events.
Connects with ERP and P2P systems for seamless data exchange.
Funding Insights of Fairmarkit
Fairmarkit has successfully raised a total of $77.49M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $35.6 million completed in September 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $77.49M
- Total Rounds 4
- Last Round Series C — $35.6M
- First Round $888,963
(May 2018)
- Investors Count 9
All 4 funding rounds of Fairmarkit with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2022 | $35.6M | Series C | – | – | |
| Dec 2020 | $30M | Series B | – | GGV Capital, Insight Partners | |
| Oct 2019 | $11M | Series A | – | Insight Partners | – |
| May 2018 | $888,963 | Seed | – | MassVentures, Newfund | – |
9 investors in total: 9 institutional.
Investors in Fairmarkit
Fairmarkit has secured backing from 9 investors, including venture fund and institutional investors. Prominent investors backing the company include ServiceNow, GGV Capital and Insight Partners.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital is invested in cybersecurity, fintech, and AI startups. | ggvc.com | Menlo Park, United States | ||
Investment firm scaling software and technology companies from early to late stages. | insightpartners.com | |||
Venture capital investment and entrepreneur support services. | hcp.com | |||
Early-stage venture capital fund | 1984.vc | San Francisco, United States | ||
Early-stage VC firm investing in geographies such as the US & France | newfundcap.com | Paris, France | ||
Early-stage venture capital investments are made in innovative startups. | 2014 | newstack.com | Chicago, United States | |
Tech focused early stage VC firm investing in the US | mass-ventures.com | Boston, United States | ||
Investment support is provided to early and growth-stage technology companies. | vttv.biz | |||
Unified IT management is delivered through a cloud-based platform. | 2004 | servicenow.com | Santa Clara, United States |
Investor details for Fairmarkit
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
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People of Fairmarkit
69 people are tracked at Fairmarkit (30 in leadership, 39 in team); the tracked headcount is 102.
| Name | Role | Group |
|---|---|---|
Victor Kushch | Co-Founder & CTO | Leadership |
Deb Musson | Sr. Global Director Sales Development | Leadership |
Erik Dimauro | Director, Brand And Creative | Leadership |
Liliana Paler | Customer Success Director | Leadership |
Conor Press | Senior Customer Success Director | Leadership |
Celeste Ackert | CFO | Leadership |
Justin Cruz | Head Of Customer Success, Americas | Leadership |
Kevin Frechette | CEO & Co-Founder | Leadership |
Vitali Fokin | Head of DevOps | Leadership |
Yauheni Abakshonak | Senior Director Of Engineering & Site Lead | Leadership |
Angela Cantu, MBA | Customer Success Director | Leadership |
Klara Akromova | Director of Accounting | Leadership |
Allison Yount | Vice President Of Partnerships & Business Development | Leadership |
Clayton Samaniego | Strategic Sales Director | Leadership |
Erin McFarlane | VP, Operations | Leadership |
Jules Konjoian | VP, Customer & Supplier Enablement | Leadership |
David Santiago | Senior Channel Sales Director | Leadership |
Jill Barsby | Senior Director Of Fp&a | Leadership |
Karishma Barua | VP People | Leadership |
Tiago Melo | VP Of Solutions Consulting | Leadership |
49 more people are available in the full profile.
Complete people profiles for Fairmarkit
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Fairmarkit
3 dated milestones of Fairmarkit across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Fairmarkit is founded.
- Funding First funding round of $889K.
- Funding Latest funding round, Series C, of $35.6M.
Competitors of Fairmarkit
Fairmarkit has 3 listed competitors in our database, 2 of them funded. They include Globality, Tropic and supplier.io.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| globality.com | 2015 | Palo Alto, United States | $367.55M | 171 | An AI-based platform for global sourcing and outsourcing is offered. | |
| tropicapp.io | 2020 | New York, United States | $67.1M | Cloud-based procurement management solutions are offered for multiple industries. | ||
| supplier.io | 2011 | Westchester, United States | 71 | Web-based supply chain sourcing solutions are provided to businesses. |
Detailed competitors of Fairmarkit
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Web traffic of Fairmarkit
The website of Fairmarkit (fairmarkit.com) receives about 135.5K visits a month and ranks #294,286 among all websites worldwide, #8,469 in Business Services.
- Monthly visits135.5K
▲ 17.9% vs previous month
- Unique visitors28.3K
per month
- Global rank#294,286
among all websites
- Category rank#8,469
Business and Consumer Services · Business Services
- Bounce rate31%
- Pages per visit4.8
- Average visit4 min 46 sec
- DevicesDesktop 70% · Mobile 30%
Websites whose visitors overlap most with Fairmarkit. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| sievo.com | 100% | 74.3K | #393,494 | View details | |
| keelvar.com | 94% | 25.8K | #1,281,076 | View details | |
| thehackettgroup.com | 94% | 32.4K | #973,964 | View details | |
scmdojo.com | scmdojo.com | 94% | #773,714 | – | |
| deep.stream | 94% | 12.1K | #1,989,805 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 11 similar websites and full traffic analytics for Fairmarkit
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- 11 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in Finance & Accounting Applications
3 companies that operate in the same segment as Fairmarkit (Finance & Accounting Applications) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Corporate travel and expense management are facilitated through SaaS platform. | 2015 | Palo Alto, California, United States | USD 1.58 B | USD 3.52 M | 847 | |
Financial and accounting software is developed for businesses and individuals. | 1983 | Mountain View, California, United States | USD 49.62 M | USD 21.45 B | 18,200 |
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Related news about Fairmarkit
Complete news archive for Fairmarkit
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Frequently Asked Questions about Fairmarkit
Fairmarkit was founded in 2017 and raised its 1st funding round 1 year after it was founded.
Fairmarkit is headquartered in Boston, United States. It is registered at Boston, Massachusetts, United States.
Fairmarkit is a funded company, having raised a total of $77.49M across 4 funding rounds to date. The company's 1st funding round was a Seed of $888.96K, raised on May 2018.
Fairmarkit has 102 employees.
Fairmarkit was founded in 2017 in Boston, United States, as a cloud-based platform focused on tail spend management within the procurement sector. Advanced machine learning is utilized to offer visibility and control over tail spend processes. Automation is applied to RFQ handling, vendor recommendations, and real-time monitoring. Additional features include request management, process automation, and reporting tools for enterprise use.
Fairmarkit's top competitors include Globality, Tropic and supplier.io.
Fairmarkit offers Autonomous Sourcing Platform, Supplier Recommendations, and Integrations.
Fairmarkit has 9 investors. Key investors include ServiceNow, GGV Capital, Insight Partners, Highland Capital Partners, and 1984 Ventures.
The website of Fairmarkit receives about 135 thousand visits a month and ranks #294,286 among all websites worldwide.