Fairmarkit

Fairmarkit is an autonomous sourcing platform based in Boston, founded in 2017. The company leverages artificial intelligence and generative AI to automate and optimize enterprise procurement processes, aiming to help organizations purchase goods and services efficiently. The platform specializes in automating the sourcing lifecycle with features such as automated sourcing event management, tail spend management, and AI-powered workflows. It integrates with external marketplaces like Amazon Business and connects with enterprise resource planning and procure-to-pay systems to streamline source-to-award workflows. Fairmarkit has demonstrated significant business impact, including a 300% increase in events sourced per buyer and over 11% cost savings across categories. Fairmarkit serves a diverse range of large enterprises, including notable clients like Boeing, Walgreens, and Nestlé. The company was founded by Kevin Frechette and Tarek Alaruri, supported by a leadership team with expertise in finance, engineering, and customer success.

Partnerships

 

  

  

 

  

  

 

  

  

Clients