Pactum AI, a Mountain View, CA-based company specializing in autonomous negotiations, has raised $20 million in Series B funding, bringing its total raised to $55 million.
Investors
The round was led by Karma Ventures and joined by Maersk. Other existing investors in this round include 3VC, Atomico, Project A, and SuperAngel, as well as new investor Portfolion.
Karma Ventures is an early-stage venture capital firm that specializes in late seed and A-round investments in Europe's most promising tech startups.
Pactum AI Use of Funds
The company will use the funds for research and development in autonomous negotiations, enhancing user experience, and supporting initiatives like the Autonomous Negotiations Academy.
About Pactum AI
Founded in 2019 by Estonian entrepreneurs Martin Rand, Kaspar Korjus, and Kristjan Korjus, Pactum AI is a company specializing in autonomous negotiations, conducting and optimizeizing negotiations between large enterprises and their suppliers. The company offers a suite of tools for commercial term negotiations, contract cost negotiations, and purchasing negotiations, all designed to facilitate large-scale, personalized negotiation processes between enterprises and suppliers. Pactum AI is based in Mountain View with engineering and operations in Estonia.
Funding Details
Company: Pactum AI, Inc.
Raised: $20.0M
Round: Series B
Funding Month: July 2024
Investors: Karma Ventures
Additional Investors: Maersk, 3VC, Atomico, Project A, SuperAngel, Portfolion
Company Website: https://pactum.com/
Software Category: Negotiations Solutions
Source: https://pactum.com/news-pactum-raises-20m/