Company Research Report: Pactum AI, Inc.

Company Overview

Name, Mission of the Company

Company Name: Pactum AI, Inc.

Mission: Unlocking hidden value through autonomous negotiations to create win-win agreements for businesses and their suppliers.

Founding Information

Founded: 2019

Founders: Kristjan Korjus, Martin Rand, and Kaspar Korjus

Key People in the Company

CEO: Kaspar Korjus

Key People:

Martin Rand (Co-Founder & President)

Kristjan Korjus (Chief Technology Officer)

Amit Joshi (Software Engineer)

Suzann Saar (Team Leader)

Dan Tunnicliffe (Team Leader)

Company Headquarters

Headquarters Location: 800 West El Camino Real, Suite 180, Mountain View, California, 94040 United States

Number of Employees

Employees: 51-200

Revenue

Revenue Information: No information is available

Known For

Known For: AI-based system that conducts autonomous negotiations on behalf of enterprises to create value and save time by aligning values to determine win-win agreements.

Products

Product Offerings

1. Negotiation Suite

Description: An AI-powered platform that automates commercial negotiations at scale, finding optimal agreements for both parties through an easy-to-use chat interface.

Key Features:

Total Control: Provides full control over negotiations, including view, edit, launch, and progress tracking.

Configurable: Allows pre-determined acceptance thresholds and flexible negotiation parameters.

Data Driven: Robust reporting features for audits, analytics, and organizational initiatives.

2. Commercial Term Negotiations

Description: AI solutions that negotiate commercial terms, such as payment days, discounts, and allowances with long- and mid-tail suppliers.

Key Features:

Standardization: Improved quality control and consistency.

Governance: Better risk management of business deals.

Value Generating: Experience increased profitability and negotiation efficiency.

3. Contract Cost Negotiations

Description: Automates contract negotiations to optimize costs and improve value.

Key Features:

Streamlined Contract Negotiations: Faster negotiations at scale.

Agile Market Monitoring: Active monitoring of market conditions.

Enhanced Supplier Experience: Consistent, fair experience for all suppliers.

4. Purchasing Negotiations

Description: Improves requisition pricing and payment terms for indirect spend under $150,000 through AI chatbot technology.

Key Features:

Supplier Engagement: Engages a larger number of suppliers.

Fully Autonomous: Complete automation of negotiations.

Streamlined Process: Efficient negotiation with bulk uploads and system integration.

5. Integration Solutions

Description: Seamless integration with ERP and Procurement systems for maximized value and performance.

Key Features:

Effortless Integration: Quick deployment and compatibility with various systems.

Secure Data: SOC2 compliance for secure data handling.

User Experience: Designed for ease of use and process optimization.

Recent Developments

Recent Developments in the Company

Funding and Investments:

Funding: Pactum raised $20 million in a funding round backed by Maersk.

Expansion: Continues to grow globally, securing high-profile clients including Fortune 500 companies.

Technology and Features:

New Features: Enhanced dashboard and data-driven reporting for deeper insights.

Developments in AI: Expansion of autonomous negotiation capabilities and ongoing additions to the world's largest library of negotiation behavioral learnings.

New Products Launched

No information is available

New Features Added to the Existing Products

AI Enhancements: Improved AI chatbot interactions and autonomous negotiation metrics.

Actionable Analytics: Enhanced data analytics for product performance and market trends.

New Partnerships and Collaborations

Integration Partnerships: New partnerships with Sievo and Coupa for the integration of Pactum's solutions with leading procurement systems.

Contact Information

Email: [info@pactum.com](mailto:info@pactum.com)

Address: 800 West El Camino Real, Suite 180, Mountain View, California, 94040 United States.

Conclusion

This report compiles essential information regarding Pactum AI, Inc., detailing the company’s overview, product offerings, and recent developments based on the available data. The comprehensive insight into the firm's operations and recent advancements underlines its growing influence in the AI-driven negotiation space.