Company Research Report: Arkestro, Inc.

Company Overview

Name: Arkestro, Inc.

Mission: Arkestro aims to drive better buying decisions faster, enabling companies to achieve cost savings and efficient procurement cycles across all categories of spend.

Founded: 2017

Founders: Edmund Zagorin and Ben Leiken

Key People:

Rob DeSantis: Interim Chief Executive Officer and Founder

Edmund Zagorin: Chief Strategy Officer and Founder

Ben Leiken: Chief Technology Officer

Caroline Cioe: Senior Vice President of Sales

Anna O'Leary: Chief People Officer

Headquarters: 60 29th St. #148, San Francisco, CA 94110

Number of Employees: No information is available

Revenue: No information is available

Known For: Arkestro is recognized for Predictive Procurement Orchestration (PPO), its unique platform that leverages machine learning, behavioral science, and game theory to optimize procurement cycles by suggesting efficient spend strategies.

Products

Predictive Procurement Orchestration (PPO)

Description: Arkestro's flagship product, PPO, is designed to optimize procurement processes by using machine learning and behavioral science to provide actionable insights and recommendations.

Key Features:

Real-time Recommendations: Utilizes AI to offer timely procurement advice, reducing cycle times and enhancing decision-making.

Data Science-Driven Insights: Leverages accumulated spend data to suggest optimal procurement strategies.

Integrated Platform: Seamlessly integrates with existing ERP and procurement platforms for ease of data transfer and analysis.

Scalability: Designed to handle procurement processes at scale, enabling companies to run more procurement events without increasing headcounts.

Automation: Automates routine tasks and negotiations, allowing procurement teams to focus on strategic initiatives.

Recent Developments

Recent Developments:

Arkestro joined the Infor Marketplace through integration with Infor LN to enhance procurement processes.

Arkestro's Museum of Procurement relocated to Arizona State University to showcase procurement history and advancements.

The company experienced technical challenges due to third-party service outages, including an AWS-related Sigma Load Time issue and a DNS outage from their provider Heroku. Arkestro is taking steps to mitigate such issues by enhancing monitoring and considering migrating services to AWS.

New Products Launched: No new products specifically announced.

New Features Added: Introduction of enhanced capabilities in supplier negotiation through AI-driven dynamic recommendation features.

Partnerships: Arkestro joined the AWS Partner Network to further amplify its platform's reach and capabilities.

Strategic Insights

Arkestro continues to advance its position in the procurement technology industry by leveraging its Predictive Procurement Orchestration platform. The integration of AI, machine learning, and behavioral science allows Arkestro to offer solutions that not only optimize procurement cycles but also yield significant cost advantages. The company is part of significant partnerships and has been recognized by leading industry analysts for its contributions to procurement automation and efficiency.

Arkestro remains committed to enhancing its platform's robustness and reliability and continues to improve its data handling and integration processes to provide seamless solutions across diverse industries, including automotive, oil and gas, manufacturing, high-tech manufacturing, construction, financial services, and food and beverage.