Maersk Joins Investors as Pactum AI Secures $20M in Funding

Pactum AI, a software developer specializing in autonomous negotiations, has secured $20 million in venture capital from a group of investors, including Danish shipping giant Maersk. Pactum's technology enables automated bots to negotiate supplier deals without human intervention, aiming to revolutionize corporate procurement in logistics and other sectors.

Since 2021, Maersk has utilized Pactum's technology for spot trucking services. Pactum's bots can contact thousands of suppliers simultaneously to find the best pricing and terms for routine corporate purchases. The company emphasizes that this technology hasn't led to job losses, as procurement professionals can now focus on more strategic tasks and learn to manage AI-driven negotiations.

Pactum, launched in 2019, has its software negotiating deals in 10 languages for numerous Fortune 500 companies, including Walmart, Vodafone, and Veritiv. The most significant autonomously signed deal so far was a $28 million purchase that resulted in $750,000 in savings. The new investment round, led by Karma Ventures and including other investors like 3VC, Atomico, Project A, SuperAngel, and Portfolion, brings Pactum’s total fundraising to $55 million.

“This investment is great news for Pactum, as well as procurement professionals already conducting autonomous negotiations, and those soon to start,” said Pactum Co-Founder and CEO Martin Rand. “Negotiations create value and autonomous negotiations at scale through human-AI collaboration can unlock value like never before. We’ve now conclusively demonstrated that with results so this additional funding will help us bring the benefits of autonomous negotiations to the world.”

Pactum's autonomous bots are set to lead the next wave of AI development, driving efficiencies and optimizing terms in supplier negotiations across various industries.