Company Research Report: Fairmarkit

Company Overview

• Name: Fairmarkit

• Mission: Fairmarkit's mission is to enable organizations to purchase the goods and services they need in the most efficient way possible through the power of technology, using data and automation to create streamlined experiences for buyers and suppliers while fostering market competition.

• Founded: No information is available on the founding year or founder(s) of Fairmarkit.

• Key People:

• Kevin Frechette, Chief Executive Officer & Cofounder

• Victor Kushch, Chief Technology Officer & Cofounder

• Celeste Ackert, Chief Financial Officer

• John Fleisher, SVP of Sales

• Dean Thomas, SVP of Customer Success

• Andrew Timonin, SVP, Engineering

• Allison Yount, VP of Partnerships & Business Development

• Erin McFarlane, VP, Operations

• Jules Konjoian, VP, Customer & Supplier Enablement

• Karishma Barua, VP, People

• Benjamin Brown, VP of Marketing

• Headquarters: No information is available on the headquarters location.

• Number of Employees: No information is available on the number of employees.

• Revenue: No information is available on the company's revenue.

• Specialization: Fairmarkit is known for its autonomous sourcing platform that helps organizations optimize their procurement processes, engage business users early, automate repetitive spend, and create strategic sourcing that delights stakeholders and delivers results.

Products and Services

• Products Offered:

• Autonomous Sourcing Platform

• High Level Description: An AI-driven platform designed to streamline procurement processes by automating and optimizing the sourcing of goods and services.

• Key Features:

• Automation & AI: Replaces outdated sourcing methods, enabling faster and scalable procurement.

• Engagement & Collaboration: Provides a delightful digital experience and invites cross-functional collaborators for strategic events.

• Data Visibility: Offers embedded dashboards for a holistic view of team performance, event analytics, and supplier utilization.

• Seamless Integration: Enterprise-ready integrations with major systems like SAP, Oracle, and Coupa.

Recent Developments

• Recent Developments:

• Certification: Fairmarkit was certified as Coupa Total Spend Management Platform Ready.

• Series C Funding: Secured $35.6 million in Series C funding to accelerate platform development and expand partnerships, led by OMERS Growth Equity, with participation from GGV Capital, Insight Partners, Highland Capital Partners, and ServiceNow.

• Partnerships: Partnered with Boston University to host an inaugural event on AI-driven procurement innovations.

• Recognition: Named to Deloitte’s 2024 Technology Fast 500™ List and placed No. 159 on the Inc. 5000 2024 list.

• New Products Launched: No information is available on newly launched products.

• New Features Added: Launched AI-Powered Automated Procurement Tool in September 2023 and an Automated Quoting Integration with the ServiceNow Platform.

• New Partnerships: Fairmarkit announced a collaboration with Amazon Business to streamline procurement for enterprises.

This report is based on the available data and any missing sections are due to a lack of provided information.