Total amount raised
$28 Millions
Latest funding date
06/01/2022
Location
Arkestro has successfully raised funds through a Series A round, with the last funding round closing on June 14, 2022. The company is backed by 14 investors, including Construct Capital and El Cap Holdings.
Keep reading to explore the intricacies of Arkestro's fundraising journey and the investors backing this innovative platform.
What Is Arkestro?
Arkestro, founded in 2017, is a predictive procurement software company based in San Francisco, California. The company was established by Christian Ries, Edmund Zagorin, and Rob DeSantis. With a team of 51-100 employees, Arkestro aims to enhance savings and supply chain performance through its innovative platform.
How Much Funding Has Arkestro Raised?
- Series A
- Amount Raised: $26M
- Date: June 2022
- Lead Investors: NEA, Construct Capital, Koch Disruptive Technologies, Four More Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance the platform using behavioral science, game theory, and predictive machine learning models.
- Convertible Note
- Amount Raised: $200K
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial funding for operational and developmental needs.
- Seed Round
- Amount Raised: $1.8M
- Date: March 2019
- Lead Investors: Cervin Ventures, Illuminate Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bridge funding gaps and support ongoing projects.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Tech Wildcatters
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the company and develop the initial product.
Arkestro has raised a total of $28M. The current valuation is Not publicly disclosed.
Key Investors
- Construct Capital
- Details: Construct Capital is a venture capital firm that invests in early-stage companies. They focus on transformative technologies and innovative business models.
- Investment Focus Areas: Early-stage companies, transformative technologies, innovative business models.
- Notable Investments: Information not provided.
- Four More Capital
- Details: Four More Capital is a division of Henry Crown & Company, focusing on private equity and venture capital investments. They aim to support high-growth potential companies.
- Investment Focus Areas: Private equity, venture capital, high-growth potential companies.
- Notable Investments: Information not provided.
- Koch Disruptive Technologies
- Details: Koch Disruptive Technologies (KDT) is a subsidiary of Koch Industries that invests in high-growth companies. They focus on innovative technologies and disruptive business models.
- Investment Focus Areas: High-growth companies, innovative technologies, disruptive business models.
- Notable Investments: Desktop Metal, Insightec, Molekule.
- New Enterprise Associates (NEA)
- Details: New Enterprise Associates (NEA) is a global venture capital firm investing in technology and healthcare sectors. They support companies at various stages of growth.
- Investment Focus Areas: Technology, healthcare, various growth stages.
- Notable Investments: Robinhood, Coursera, Duolingo.
- Cervin Ventures
- Details: Cervin Ventures is a venture capital firm focusing on early-stage enterprise technology companies. They aim to support innovative startups in the enterprise software space.
- Investment Focus Areas: Early-stage enterprise technology, innovative startups, enterprise software.
- Notable Investments: Information not provided.
What's Next for Arkestro?
Arkestro stands at the cusp of significant growth, leveraging its predictive procurement platform to enhance savings and supply chain performance for clients. With $26 million raised in Series A funding, the company is poised to accelerate its growth by utilizing behavioral science, game theory, and predictive machine learning models. This financial backing opens doors to expand their customer base and improve platform capabilities.
Future fundraising opportunities seem promising, given the successful Series A round and the involvement of prominent investors. As Arkestro scales its operations, additional funding rounds may be on the horizon to support further growth and innovation. However, the company may face challenges such as competition from other predictive procurement platforms and ensuring the scalability and reliability of their machine learning models.
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