NEA, Construct, KDT and Four More Capital led a $26m Series A funding round in Arkestro.

NEA, Construct, KDT and Four More Capital led a $26m Series A funding round in Arkestro, a predictive procurement orchestration platform, with participation from Cervin, Correlation, El Cap, Forum, Illuminate and Tenacity. "Our customers' success is now creating a movement among investors that truly understand the transformative value of predictive machine learning to drive continuous improvement in any procurement, sourcing and purchasing cycle. Securing this round was based on our customers' ability to influence 100% of spend including direct spend in fast-moving, non-recurring, complex and market-constrained supply categories without requiring any user adoption or heavy integration. Our leadership sees this investment as additional validation for Predictive Procurement Orchestration as an emerging market category, and especially for the 'savings-on-autopilot' approach," Edmund Zagorin, Arkestro CEO.