OMERS Growth Equity led a $36m Series C round in Fairmarkit.

OMERS Growth Equity, an investment firm, led a $36m Series C round in Fairmarkit, an automated sourcing platform, with participation from GGV Capital, Insight Partners, HighlandX, and ServiceNow. “Our system was built specifically to focus on the high-volume purchases that can require long purchase cycles and largely go unmanaged and ignored by enterprise procurement teams, who have traditionally relied on enterprise technology that is clunky and manual. We realize that the current economic climate has put a strain on our customers to do more with less, as every line item is being scrutinized for cost saving and every opportunity to drive operational efficiencies is being pursued. This investment will help accelerate the impact our platform will have on our customers’ bottom lines," Kevin Frechette, Fairmarkit Co-Founder and CEO.