- Aramco Ventures led a $36 million investment round in US-based Arkestro to expand predictive procurement technologies.
- Arkestro relies on artificial intelligence, behavioral science, and game theory to achieve savings of up to 18.8% in spending.
- The investment aims to transform procurement from a traditional function into a strategic tool that enhances profitability and supply chain resilience.
Aramco Ventures is leading a $36 million investment round in US-based Arkestro, in partnership with Altira Group and with participation from existing investors. The round aims to support Arkestro’s growth and expand its capabilities in predictive procurement technologies.
Arkestro’s platform uses artificial intelligence, behavioral science, and game theory to accelerate purchasing cycles, enhance supplier collaboration, and deliver an average cost savings of 18.8% for every million dollars spent.
Bruce Niven, Executive Managing Director at Aramco Ventures, stated that the platform transforms procurement into a proactive strategic function that delivers tangible financial impact.
Rob DeSantis, CEO of Arkestro, confirmed that the investment will enable the company to broaden its reach and offer its solutions to more organizations seeking to improve profitability and supply chain resilience.
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