Altira Group and Aramco Ventures lead funding to accelerate ongoing enterprise growth and company expansion with NEA, KDT, and Activant
SAN FRANCISCO, May 14, 2025 — Arkestro, the premier Predictive Procurement Platform accelerating enterprise spend transformation, today announced a strategic investment totaling $36M. The investment was led by Altira Group and Aramco Ventures, with participation from existing investors NEA, KDT, and Activant. The investment will accelerate Arkestro’s ongoing innovation in AI-powered procurement technology, advancing its mission to help enterprises unlock hidden savings, reduce supply chain risk, and drive operational efficiency—empowering procurement teams to focus on strategic, high-impact initiatives.
Arkestro’s Predictive Procurement Platform leverages AI, behavioral science, and game theory to accelerate procurement cycles, enhance supplier collaboration, and drive an average of 18.8% cost savings on every $1M of spend. By integrating Arkestro’s patented three sciences: Negotiation Science, Supplier Science, and Process Science, the platform empowers procurement teams to proactively shape procurement outcomes rather than react to supplier quotes. Through their investment, Altira Group and Aramco Ventures support Arkestro’s global growth efforts and recognizes its predictive procurement technology’s ability to reduce risk and enhance supply chain resilience.
“Arkestro cuts through the noise with a pragmatic application of AI technology that gives procurement experts superhuman-like capabilities and reinforces their role as a strategic lever for the enterprise,” said J.P. Bauman, Partner at Altira Group, who has joined Arkestro’s board of directors. “Our seven leading oil & gas partners—together with our co-investors at Aramco Ventures—represent hundreds of billions in procurement spend annually. We’re proud to support Arkestro’s leadership and scaling across the energy and broader industrial markets.”
“Aramco Ventures invests in disruptive technologies that redefine industries, and Arkestro’s Predictive Procurement Platform is doing just that,” said Bruce Niven, Executive MD and Head of Strategic Venturing at Aramco Ventures. “Arkestro’s approach is transforming procurement into a proactive, strategic function that delivers measurable financial impact. We’re excited to support their growth and help drive the next generation of supply chain innovation.”
“This strategic investment from Altira Group and Aramco Ventures is a testament to the growing demand for predictive procurement technology that leverages AI and behavioral science to transform supply chain processes,” said Rob DeSantis, CEO and Co-Founder of Arkestro. “Procurement teams today are navigating increasingly complex, global challenges, yet legacy processes continue to slow decision-making and leave cost savings untapped. With Altira Group and Aramco Ventures’ support, we will expand our capabilities and bring predictive procurement transformation to even more enterprises looking to drive profitability and resilience in their supply chains. Arkestro enables procurement teams to serve as a revenue-driving function of the business rather than a cost center, and we’re excited to extend our impact even further with this investment.”
In the past year, Arkestro has rapidly expanded its customer base, with industry leaders—including Fortune 500 manufacturers, energy companies, and global supply chain organizations—using its Predictive Procurement platform to accelerate decision-making, strengthen supplier partnerships, and maximize cost savings.
About Arkestro
Arkestro’s Predictive Procurement Platform accelerates enterprise spend transformation to unlock trapped savings and reduce risk, enabling teams to influence significantly more spend. By combining AI and game theory with Arkestro’s patented three science technology, Negotiation Science, Supplier Science, and Process Science, procurement teams can improve win rates while strengthening supply chain agility. Trusted by Fortune 500 companies across industries, Arkestro shifts traditional procurement to become a proactive, results-driven function—eliminating inefficiencies, optimizing negotiations, and enhancing supplier collaboration.
Arkestro has been recognized for its industry leadership, including being named a Sample Vendor for Autonomous Sourcing, Autonomous Procurement, and Supplier Discovery in Gartner’s 2024 Hype Cycle, and a Top Tech – Sourcing provider in the Fall 2024 SolutionMap. Learn more at www.arkestro.com.
About Altira Group
Altira Group is a Denver-based venture capital firm that has invested in advanced technology solutions across the energy and industrial value chain for over 28 years. In partnership with its Fund VII oil & gas company limited partners, Altira enables the next generation of industrial technologies—driving innovation across digital, automation, and core operations. Beyond capital, Altira actively partners with entrepreneurs to scale their businesses, while also providing direct customer access, real-world validation, and collaborative go-to-market support through its strategic industry relationships. This differentiated model compresses adoption cycles, enhances company resilience, and delivers stronger investment outcomes. Learn more at www.altiragroup.com.
About Aramco Ventures
Aramco Ventures is the corporate venturing arm of Aramco, the world’s leading fully integrated energy and chemical enterprise. Headquartered in Dhahran with offices in North America, Europe, and Asia, Aramco Ventures’ strategic venturing programs invest globally in start-up and high growth companies with technologies of strategic importance to its parent company, Aramco, primarily supporting its operational decarbonisation, new lower-carbon fuels businesses, and digital transformation initiatives. Aramco Ventures also operates Prosperity7, the company’s disruptive technologies investment program. For more information, please visit www.aramcoventures.com.
Arkestro Press Contact:
Tiffani Lee-Zhang
[email protected]
SOURCE Arkestro
