Fairmarkit

Founded in 2017, we offer an autonomous sourcing platform that uses AI and GenAI to help organizations with competitive sourcing at scale. Our platform enables procurement teams to manage more events per full-time employee (FTE) and identify savings.

Our AI agents automatically apply best practices and compliance standards, scaling operations by automating every step of the sourcing lifecycle. The platform adapts to your strategy and risk requirements, making sourcing more efficient for all goods and services—including strategic, tactical, and tail spend, as well as competitive, single-sourced, or repeat purchases. We integrate requesters and buyers through intuitive, mobile-friendly workflows that automatically apply sourcing strategy and ensure compliance.

We announced a $35.6 million Series C funding round, led by OMERS Growth Equity. Customers using our platform have reported significant improvements: they manage 10x more events per FTE, uncover $40,000 in savings per buyer per week, reduce average sourcing time to 3 minutes per event, cut cycle time from demand to award by over 55%, and increase events sourced per buyer by 300%.

Our mission is to build a people-first marketplace that revolutionizes how organizations buy and sell.

We operate by these core values:

• Operate with excellence: focusing on action, driving results with enthusiasm, and learning with humility.
• Act with integrity: emphasizing well-intentioned, ethical, equitable, and inclusive practices.
• We before me: encouraging collaboration, mutual support, and seeking diverse perspectives.
• Change the game: a customer-centric approach, a drive to advance the industry, intellectual curiosity, and an innovative mindset.

Fairmarkit has 51 to 200 employees. The company fosters a collaborative, high-performance culture that emphasizes growth and inclusivity. Fairmarkit has been recognized for its product and culture, including being listed among America’s best startup employers and most innovative companies.

We offer health, dental, and vision insurance, work flexibility, and equity.

Our benefits include paid parental leave, a home office stipend, sabbatical leave, and an unlimited sick leave policy. We also provide Summer Fridays and Holiday Hibernation, a 401k with up to a 1% company match, mental health and mindfulness resources, cell phone reimbursement, and commuter benefits. Employees also receive career development and dedicated mentorship, along with uncapped growth potential.