Pactum AI has secured $20 million in Series B funding to enhance its autonomous negotiation solutions for procurement teams, marking a significant step in the evolving AI landscape.

Information on the Target

Pactum AI is a frontrunner in the autonomous negotiation space, having established its pioneering technology in 2019. The company assists large enterprises by enabling them to conduct thousands of negotiations with suppliers simultaneously, resulting in optimized terms for all parties involved. Over the past five years, Pactum AI has successfully executed thousands of autonomous negotiations for Fortune 500 companies, while also creating the world's largest repository of behavioral negotiation learnings. Each negotiation enhances the AI's capability, allowing it to foster better outcomes in future dealings.

The latest funding round raised $20 million, which will empower Pactum AI to further enhance value extraction during autonomous negotiations. The investment will facilitate a more intuitive user experience and improve collaboration between human procurement teams and AI agents. The company aims to refine its negotiation tools tailored for procurement professionals while launching initiatives, such as an Autonomous Negotiations Academy, to upskill individuals in this evolving field.

Industry Overview in the Target's Specific Country

The autonomous negotiations sector is emerging as a critical component in the procurement landscape across Europe. The European market is witnessing a significant shift towards the adoption of AI-driven solutions as organizations look to enha