When was Fairmarkit founded?

Fairmarkit was founded in 2017 and raised its 1st funding round 1 year after it was founded.

Where is Fairmarkit located?

Fairmarkit is headquartered in Boston, United States. It is registered at Malden, Massachusetts.

Who is the current CEO of Fairmarkit?

Kevin Frechette of Fairmarkit. They have also founded 1 company.

Which legal entities is Fairmarkit associated with?

Fairmarkit is associated with FAIRMARKIT INC and 1 other.

How many employees does Fairmarkit have?

As of Feb 28, 2026, the latest employee count at Fairmarkit is 147.

Is Fairmarkit a funded company?

Fairmarkit is a funded company, having raised a total of $78M across 4 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on May 24, 2018.

When was the latest funding round of Fairmarkit?

Fairmarkit's latest funding was a $***** Series C round on Sep 01, 2022, with participation from 4 investors.

Where does Fairmarkit rank among its competitors?

Fairmarkit ranks 8th amongst 111 active competitors, of which 21 are funded. It stands 3rd in terms of total funding among its competitors. The most recent competitor to raise funding was Zaggle, which secured $1.65M in Dec, 2025.

Who are the top competitors of Fairmarkit?

Fairmarkit's top competitors include Zaggle, Globality and Zycus. Among them, Zaggle secured the most recent funding round in December, 2025.

Fairmarkit - 2026 Company Profile, Team, Funding & Competitors

Fairmarkit is a series C company based in Boston (United States), founded in 2017 by Tarek Alaruri and Kevin Frechette. It operates as a Provider of an AI platform for automating strategic sourcing processes. Fairmarkit has raised $78M in funding from investors like Insight Partners, GGV Capital and MassVentures. The company has 111 active competitors, including 21 funded and 18 that have exited. Its top competitors include companies like Zaggle, Globality and Zycus.

Company Details

Provider of an AI platform for automating strategic sourcing processes. The platform offers features such as supplier recommendations, statement of work builder, reverse auctions, and autonomous negotiations. It provides automation for demand to award processes, tail spend, and strategic sourcing. The platform also includes sourcing intake capabilities and integration with existing enterprise resource planning and procure-to-pay systems.

Website: www.fairmarkit.com/
Social
Email ID: *****@fairmarkit.com
Registered Address: Malden, Massachusetts

Key Metrics

Founded Year

2017

Location

Boston, United States

Stage

Series C

Total Funding

$78M in 4 rounds

Latest Funding Round

Series C, Sep 01, 2022, $*****

Investors

Insight Partners & 16 more

Ranked

8^th among 111 active competitors

Employee Count

147 as on Feb 28, 2026

Similar Companies

Zaggle & 1883 more

View Fairmarkit's full profile

Fairmarkit is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
FAIRMARKIT INC CIN: 821571086 , United States, Active	Dec 31, 1999	-	53 (As on Dec 31, 2024)	-
FAIRMARKIT, INC. CIN: 82-1571086 , United States, Active	May 01, 2017	-	102 (As on Dec 31, 2021)	-

Fairmarkit has raised a total funding of $78M over 4 rounds. Its first funding round was on May 24, 2018. Its latest funding round was a Series C round on Sep 01, 2022 for $*****. 4 investors participated in its latest round. Fairmarkit has 16 institutional investors and 1 angel investor.

Here is the list of recent funding rounds of Fairmarkit:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Sep 01, 2022	4580962	Series C	7854748	9316168	2124574	4008028
Dec 10, 2020	9765556	Series B	4361539	9415639	4701222	1984 Ventures & 2 more
Oct 23, 2019	9160665	Series A	1974027	2367195	Insight Partners	9838229

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View details of Fairmarkit's funding rounds and investors

The founders of Fairmarkit are Tarek Alaruri and Kevin Frechette. Kevin Frechette is the CEO of Fairmarkit.

Here are the details of Fairmarkit's key team members:

Tarek Alaruri: Co-Founder & CTO of Fairmarkit.
Contact Info: 1 email address
Kevin Frechette: Co-Founder & CEO of Fairmarkit.
Contact Info: 1 email address

Fairmarkit's Board of Directors

Fairmarkit's board has 4 active members. Jeff Richards, Thomas Krane, Lou Shipley and Stephen Gregorio are independent board members.

Here is the list of Fairmarkit's board of directors:

Name	Type	Representing	Status	Duration
Jeff Richards	Independent board member	-	Current	5y 3m
nuzrxew	Independent board member	-	Current	5y 5m
lfwfyif	Independent board member	-	Current	3y 6m
i{oraoy	Independent board member	-	Current	5y 1m

View details of Fairmarkit's Founder profiles and Board Members

Fairmarkit's employee count trend

Fairmarkit has 147 employees as of Feb 26. Here is Fairmarkit's employee count trend over the years:

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Top competitors of Fairmarkit include Zaggle, Globality and Zycus. Here is the list of Top 10 competitors of Fairmarkit, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Zaggle 2011, Hyderabad (India), Public	Platform designed to streamline business spends, payments, and rewards through automated and innovative workflows	$13.7M	Bengal Finance and Investment, Ventureast ... & 36 others	84/100
2nd	Globality 2015, Palo Alto (United States), Series E	Provider of AI-driven platform for sourcing and procurement process automation	$368M	SoftBank Vision Fund, Al Gore & 16 others	68/100
3rd	Zycus 2001, Princeton (United States), Unfunded	Provider of AI-powered source-to-pay procurement software solutions	-	-	66/100
4th	Scoutbee 2015, Wurzburg (Germany), Acquired	Network connecting buyers and suppliers through an AI-driven procurement platform	$76M	42 Capital, HV Capital & 9 others	64/100
5th	Omnea 2021, London (United Kingdom), Series B	Provider of web-enabled procurement orchestration solutions for the supply chain	$138M	Insight Partners, Khosla Ventures & 16 others	63/100
6th	Tropic 2020, New York City (United States), Series B	Provider of cloud-based procurement management solutions	$67.1M	Insight Partners, Canaan & 12 others	62/100
7th	Keelvar Tech 2012, Ireland, Series B	Provider of AI-native software for strategic sourcing and procurement processes	$43M	Act Venture Capital, Mosaic Ventures & 12 others	57/100
8th	Fairmarkit 2017, Boston (United States), Series C	Provider of an AI platform for automating strategic sourcing processes	$78M	Man Capital, Insight Partners & 15 others	57/100
9th	Mercanis 2020, Berlin (Germany), Series A	Provider of an AI procurement platform with autonomous agent deployment	$29.9M	Speedinvest, Partech Partners & 19 others	57/100
10th	supplier.io 2011, Westchester (United States), Seed	Provider of web-based supply chain sourcing solutions for businesses	-	Norwest, Bessemer Venture Partners	52/100