About Fairmarkit
Fairmarkit is a company based in Boston (United States) founded in 2017 by Victor Kushch. Fairmarkit has raised $77.49 million across 4 funding rounds from investors including ServiceNow, GGV Capital and Insight Partners. The company has 102 employees as of December 31, 2021. Fairmarkit offers products and services including Autonomous Sourcing Platform, Supplier Recommendations, and Integrations. Fairmarkit operates in a competitive market with competitors including Globality, Scoutbee, Tropic, Geniemode and supplier.io, among others.
- Headquarter Boston, United States
- Employees 102 as on 31 Dec, 2021
- Founders Victor Kushch
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Sectors
Technology
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Email
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Phone
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Website
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Social
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$77.49 M (USD)
in 4 rounds
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Latest Funding Round
$35.6 M (USD), Series C
Sep 01, 2022
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Investors
ServiceNow
& 8 more
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Employee Count
102
as on Dec 31, 2021
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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.
People of Fairmarkit
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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.
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.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Investment firm scaling software and technology companies from early to late stages.
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Venture capital investment and entrepreneur support services.
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Investor details for Fairmarkit
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Investments & Acquisitions by Fairmarkit
Investment portfolio details for Fairmarkit
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Financial Statements - Fairmarkit
Detailed financials for Fairmarkit
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Fairmarkit Comparisons
Peer comparison for Fairmarkit
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Competitors of Fairmarkit
Fairmarkit operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Globality, Scoutbee, Tropic, Geniemode and supplier.io, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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An AI-based platform for global sourcing and outsourcing is offered.
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Multi-category products are listed on an AI-driven B2B platform.
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Cloud-based procurement management solutions are offered for multiple industries.
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Sourcing and supply chain platform for retailers and suppliers
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Web-based supply chain sourcing solutions are provided to businesses.
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Detailed competitors of Fairmarkit
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Latest news on 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.
As of Dec 31, 2021, the latest employee count at Fairmarkit is 102.
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 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.