Fairmarkit
Fairmarkit is a Boston-based enterprise SaaS company that provides an AI-powered autonomous sourcing platform for procurement teams. Its KIT agent network automates intake, supplier discovery, RFx execution, and bid evaluation across tail and strategic spend, integrated with SAP Ariba, Coupa, Oracle, and ServiceNow.
- Company typePrivate
- Founded2011
- HeadquartersBoston, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Fairmarkit does
Fairmarkit is a Boston-based, privately held enterprise software company that builds an AI-powered autonomous sourcing platform for procurement teams. Its core offering, Total Agentic Sourcing, is powered by KIT (Knowledge Intelligence Tool), a proprietary network of specialized AI agents that autonomously handle the full sourcing workflow — conversational intake, supplier discovery from a 2.7 million-supplier database, RFx creation and execution, bid evaluation with TCO scenarios, and award decisions — across both tail spend (fully autonomous) and strategic sourcing (agent-assisted) modes.
The platform is delivered as a SaaS subscription with native, bi-directional integrations into the leading ERP and P2P systems: SAP Ariba, SAP S/4HANA, Coupa, Oracle, and ServiceNow. A self-serve Supplier Portal and Model Context Protocol (MCP) support extend the platform into supplier marketplaces and external AI systems. Fairmarkit is SOC 2 Type 2 certified with zero LLM data retention, and the platform produces audit-ready records for every sourcing event. The product is sold primarily via direct enterprise field sales with a 'Request a Demo' buying motion, supplemented by co-sell partnerships with Coupa, Zip, Conduent, AgileOne, Inception, and ServiceNow, plus a certified presence in the Coupa App Marketplace.
Fairmarkit serves large-enterprise procurement organizations across at least eight verticals — aerospace and defense (Boeing), energy (BP, British Telecom, Alcoa), technology and cloud (Snowflake, ServiceNow, Maxar), aviation hospitality and food service (Emirates Flight Catering), beverage/CPG (CCEP), retail/pharmacy (Walgreens), manufacturing (Goodyear, Sonoco), utilities (LVVWD), and chemicals (Atlantic Methanol). The company has raised approximately $77.5M+ across disclosed rounds, with a $35.6M Series C led by OMERS Growth Equity in September 2022, and counts Insight Partners, GGV Capital, HighlandX, ServiceNow, Notable Capital, 1984 Ventures, and MassVentures among its investors. Deloitte Technology Fast 500 (2024), Forbes America's Best Startup Employers (2025), and recognition in three Gartner reports on Agentic AI (2025) provide third-party validation.
Fairmarkit firmographics
Firmographics- Name
- Fairmarkit
- Legal name
- Fairmarkit, Inc.
- Website
- https://fairmarkit.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Fairmarkit is a Boston-based enterprise SaaS company that provides an AI-powered autonomous sourcing platform for procurement teams. Its KIT agent network automates intake, supplier discovery, RFx execution, and bid evaluation across tail and strategic spend, integrated with SAP Ariba, Coupa, Oracle, and ServiceNow.
- Ownership category
- akta.pro rank
Fairmarkit industry classification
Industry- Product category
- Autonomous Sourcing Software
- NAICS
- Wholesale Trade Agents and Brokers (425120)
- akta.pro primary industry
- Enterprise Application License Advisory, Vendor Management & Optimization (BPAEAGAO)
Keywords
Where Fairmarkit is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Fairmarkit business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- SaaS Platform Subscription: Fairmarkit operates as a SaaS platform delivering autonomous sourcing capabilities on a subscription basis. The platform is sold via enterprise sales with 'Request a Demo' CTAs indicating a consultative, contract-based pricing model. No public pricing is disclosed, consistent with enterprise B2B SaaS practices.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise SaaS subscription — pricing not publicly disclosed |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels6 records
Fairmarkit product offering
Product offeringCore offering
Fairmarkit sells Total Agentic Sourcing, an enterprise SaaS platform that deploys AI agents to autonomously run procurement sourcing events from intake through award across both tail spend and strategic spend categories. The platform is powered by KIT, a proprietary network of specialized AI agents that handles supplier discovery, RFx execution, bid evaluation, compliance, and award recommendations, and integrates natively with leading ERP and P2P systems. The platform is sold via annual enterprise subscriptions on a quote-based, demo-driven sales motion to large organizations such as Boeing, BP, Snowflake, and Emirates Flight Catering.
Product overview
Fairmarkit is an AI-powered autonomous sourcing platform that offers a unified platform-plus-modules architecture. The core offering, Total Agentic Sourcing, is powered by KIT (Knowledge Intelligence Tool) — an intelligent agent network backed by specialized agents. The platform comprises six integrated modules: Intake Agent (captures compliant requirements through conversational AI), Supplier Discovery Agent (identifies and matches suppliers from a 2.7M+ database), RFx Execution Agent (automates RFx creation and management), Evaluation Agent (analyzes bids and runs TCO scenarios), Performance & Compliance (governance and audit trails), and Supplier Portal (supplier-facing tools for bid submission). These modules work together to enable autonomous sourcing from demand through award, with native integrations to SAP Ariba, SAP S/4HANA, Coupa, Oracle, and ServiceNow, plus a public API for deeper customization.
Differentiator
Problem solved
Functional benefit
Products and services
- Total Agentic Sourcing Comprehensive autonomous sourcing platform that deploys AI agents to handle enterprise sourcing across all spend categories, from tactical purchases to major contracts. Combines Intake, Supplier Discovery, RFx Execution, Evaluation, and Performance & Compliance agent capabilities with native ERP integrations for seamless Source-to-Pay workflows. Sold via enterprise SaaS subscription to large organizations.
- KIT (Knowledge Intelligence Tool) Intelligent assistant backed by a proprietary network of specialized AI agents, purpose-built to support distinct sourcing workflows. Provides conversational intake, autonomous event execution, supplier recommendations, bid analysis insights, and team evaluation support across both tail spend and strategic sourcing.
- Intake Agent AI-powered intake module that captures compliant, complete requirements at the point of request through conversational dialogue, enabling procurement teams to scale spend under management without adding headcount. Available as part of the Fairmarkit platform for enterprise procurement teams.
- Supplier Discovery Agent AI agent that identifies qualified suppliers, initiates events, and auto-competes renewals by matching suppliers from a 2.7 million supplier database with embedded compliance and diversity requirements. Available as part of the Fairmarkit platform for enterprise procurement teams.
- RFx Execution Agent AI agent that automates manual steps and accelerates award decisions by handling compliant intake, SOW creation, bid optimization, auctions, and award with AI collaboration across complex to single RFx events at scale. Converts purchase requisitions into structured RFPs, RFQs, and RFIs. Available as part of the Fairmarkit platform for enterprise procurement teams.
- Evaluation Agent AI-powered evaluation tool that analyzes bids side-by-side, runs scenario-based award modeling, performs TCO (Total Cost of Ownership) scenarios, and enables autonomous negotiation across strategic and tail spend categories. Available as part of the Fairmarkit platform for enterprise procurement teams.
- Performance & Compliance Governance module that produces complete, audit-ready records for every sourcing event while providing real-time insight into savings, throughput, and policy adherence across the entire program. Available as part of the Fairmarkit platform for enterprise procurement leaders.
- Supplier Portal Supplier-facing platform enabling suppliers to register, maintain company profiles, receive and respond to buyer requests, submit bids and proposals, and participate in sourcing activities including RFQ, RFP, RFI, and auctions. Operates as a self-serve marketplace component of the Fairmarkit platform.
Quantifiable outcome
- 11% average identified savings across the platform
- +7 more outcomes
Companies that use Fairmarkit
Customer profileNamed customers22 records
Segments9 records
Ideal customer profiles1 record
Fairmarkit technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability8 records
Feature9 records
Fairmarkit partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered flagship, major, core and minor.
- ZipflagshipFairmarkit and Zip partnered to directly connect Zip's AI-driven intake and orchestration capabilities with Fairmarkit's autonomous sourcing platform. The integration enables enterprises to automate workflows from initial supplier request through competitive award and payment. Enterprises use Zip's orchestration layer for intake, which flows automatically into Fairmarkit for AI-generated RFPs, supplier engagement, and competitive bidding, with unified support from both teams.
- AgileOnemajorStrategic collaboration uniting Fairmarkit's autonomous AI sourcing platform with AgileOne's expertise in contingent workforce management and Statement of Work (SOW) creation. The partnership extends AgileOne's capabilities into broader spend management by embedding Fairmarkit's AI-driven sourcing technology, enabling clients to manage both contingent labor and additional enterprise spend categories through a single, unified approach.
- ConduentcoreStrategic collaboration merging Fairmarkit's autonomous AI sourcing platform with Conduent's proven finance analytics capabilities, specifically its FastCap platform. The partnership helps organizations turn financial data into automated, optimized procurement outcomes, targeting 3–6% additional savings on tail spend. FastCap has flagged over $800M in recoveries and prevented overpayments since 2021.
- CoupacoreFairmarkit became a Coupa Certified solution available in the Coupa App Marketplace. The certified integration enables Coupa customers to bring more spend under management by automating the competitive sourcing process for tail spend. The partnership extends the Coupa Total Spend Management platform with Fairmarkit's GenAI, AI, and automation capabilities through pre-built, certified connectors.
- SAP AribacorePre-built bi-directional integration with SAP Ariba. Requisitions are picked up from SAP Ariba, sourcing events are run in Fairmarkit, and results write back — no manual handoffs or parallel systems to maintain.
- OraclecoreNative bi-directional integration with Oracle procurement systems, enabling automatic data flow between Fairmarkit's autonomous sourcing and Oracle's ERP/P2P environment.
- ServiceNowcoreNative bi-directional integration with ServiceNow procurement workflows, enabling seamless data flow between Fairmarkit's autonomous sourcing and ServiceNow's enterprise service management and procurement orchestration platform. ServiceNow is also a Series C investor and customer.
- SAP S/4HANAcoreNative ERP integration with SAP S/4HANA as part of Fairmarkit's Total Agentic Sourcing platform launch. KIT integrates natively with SAP S/4HANA alongside other major ERP systems.
- Boston UniversityminorFairmarkit partnered with Boston University to host the inaugural SOAR event (Sourcing and Procurement industry event), bringing together procurement leaders, students, and industry practitioners to discuss the future of sourcing technology and practice.
Scale indicators11 records
Recent moves6 records
Expansion highlights6 records
Fairmarkit competitors and assessment
Company assessmentDirect peers
- Zip: Zip is an AI-powered intake and orchestration platform for procurement, serving many of the same enterprise customers (e.g., Snowflake). While Fairmarkit focuses on autonomous sourcing execution, Zip owns the upstream intake/orchestration layer; the two are tightly integrated partners and increasingly compete in agentic procurement workflows.
- Keelvar: Keelvar is a sourcing optimization and autonomous sourcing platform acquired by Coupa, directly competing with Fairmarkit in AI-driven tail spend and strategic sourcing optimization, including auction and bid analysis.
- Arkestro (now Simfoni): Arkestro is a predictive procurement AI platform that recommends and executes sourcing actions, competing directly with Fairmarkit's Evaluation and Supplier Discovery Agents in autonomous and agent-assisted sourcing.
Broad incumbents
- Coupa Software: Coupa is a leading Total Spend Management platform with a broad source-to-pay suite, native tail-spend sourcing, and a marketplace where Fairmarkit is a certified partner. As a broad incumbent owning the S2P workflow, Coupa is both partner and potential competitor after acquiring Keelvar.
- SAP Ariba: SAP Ariba is the largest source-to-pay platform globally and a core integration partner for Fairmarkit. As an incumbent, Ariba embeds its own sourcing optimization and AI capabilities and represents both the primary distribution channel and a long-term competitive threat.
- Ivalua: Ivalua is a unified source-to-pay platform with sourcing, contract management, and supplier management capabilities, competing with Fairmarkit in the strategic sourcing module of enterprise procurement stacks.
- GEP: GEP provides AI-powered procurement and supply chain software (NEXE) alongside procurement services, competing with Fairmarkit in the strategic and tail-spend sourcing automation market for large enterprises.
- Jaggaer: Jaggaer offers a comprehensive source-to-pay and supplier management platform, overlapping with Fairmarkit in sourcing automation, supplier discovery, and contract management for large enterprises.
- Workday: Workday is a major enterprise applications vendor with expanding procurement and sourcing capabilities, and an indirect competitive threat to Fairmarkit as enterprises consolidate spend management onto fewer platforms.
Emerging players
- Procurify: Procurify is a mid-market-focused procurement and AP automation platform, partially overlapping with Fairmarkit on tail-spend sourcing and supplier management but primarily serving a different (mid-market) customer segment.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat7 records
Key risks5 records
Key highlights7 records
Customer concentration
Fairmarkit social profiles
Digital presenceFairmarkit compliance and trust
Trust signalCompliance2 records
Fairmarkit financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fairmarkit leadership team
Management profileNumber of profiles
Profiles9 records
Fairmarkit funding detail
Funding detailFunding overview
Funding rounds5 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fairmarkit M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fairmarkit
What does Fairmarkit do?
Fairmarkit sells Total Agentic Sourcing, an enterprise SaaS platform that deploys AI agents to autonomously run procurement sourcing events from intake through award across both tail spend and strategic spend categories. The platform is powered by KIT, a proprietary network of specialized AI agents that handles supplier discovery, RFx execution, bid evaluation, compliance, and award recommendations, and integrates natively with leading ERP and P2P systems. The platform is sold via annual enterprise subscriptions on a quote-based, demo-driven sales motion to large organizations such as Boeing, BP, Snowflake, and Emirates Flight Catering.
Is Fairmarkit a public or private company?
Fairmarkit is a private company. It is classified as venture growth investor backed and is currently operating.
When was Fairmarkit founded?
Fairmarkit was founded in 2011. It employs 101 to 250 people.
Where is Fairmarkit based?
Fairmarkit is headquartered in Boston, United States, in the North America region.
How does Fairmarkit make money?
One revenue line is on record: saaS Platform Subscription.
Who are Fairmarkit's main competitors?
Direct peers on record are Zip, Keelvar and Arkestro (now Simfoni). Broad incumbents are Coupa Software, SAP Ariba, Ivalua, GEP, Jaggaer and Workday. Procurify is listed as an emerging player.
Does Fairmarkit have an API?
Yes. Fairmarkit offers a public API for deeper customization, enabling enterprises to connect the sourcing platform with their existing systems. The platform ships with Model Context Protocol (MCP) support, which provides a standardized way for AI systems to connect to APIs, enterprise workflows, and systems of record. Documentation is available at docs.fairmarkit.com. Developer documentation is at docs.fairmarkit.com.
What industry is Fairmarkit in?
Fairmarkit's product category is Autonomous Sourcing Software. Its primary akta.pro industry code is BPAEAGAO, Enterprise Application License Advisory, Vendor Management & Optimization. Its NAICS code is 425120.