Accel led a $20m Series A round in Omnea.

Accel, a private equity firm, led a $20m Series A round in Omnea, an end-to-end, AI-powered procurement and supplier management platform, with participation from First Round Capital and Point Nine. "Procurement is fundamentally broken, making it one of the least-loved processes in businesses today. Finance and procurement leaders are fed up with seeing duplicative suppliers, missed renewals, and manually managed procurement processes. Omnea is meeting a critical need for companies of all sizes to get full control over their suppliers – not just in terms of spend, but also through the lens of information security and governance. We’ve seen significant early demand, and with our new AI capabilities and third-party risk management offering, we’re the only company in the space truly automating the full supplier lifecycle. We’re delighted to announce today’s funding so we can continue on our mission to take the pain out of procurement and supplier management once and for all," Ben Freeman, Omnea Co-Founder and CEO.