Fairmarkit Raises $11 Million

Want to share this story?

Boston based startup Fairmarkit announced it raised new funding to automate enterprise procurement.

The startup announced it has raised $11 million in Series A funding from Insight Partners, which lead the funding in this round. MassVentures, NewStack Ventures, VT Technology Ventures and NewFund, all of which supported Fairmarket’s seed funding round, joined this round as well.

Fairmarkit automates enterprise procurement, which drives cost and time savings through increased competition and reducing manual participation. This platform enables procurement departments to maximize spending under management and reduce supplier risk.

Fairmarkit was founded in 2017.