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 Sep 30, 2026, the latest employee count at Fairmarkit is 144.

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 5 investors.

Where does Fairmarkit rank among its competitors?

Fairmarkit ranks 3rd amongst 125 active competitors, of which 15 are funded. It stands 2nd in terms of total funding among its competitors. The most recent competitor to raise funding was PAVUS, which secured $5.2M in Oct, 2025.

Who are the top competitors of Fairmarkit?

Fairmarkit's top competitors include Globality, Scoutbee and Keelvar Tech. Among them, PAVUS secured the most recent funding round in October, 2025.

Fairmarkit - 2026 Company Profile, Team, Funding & Competitors

Fairmarkit is a series C company based in Boston (United States), founded in 2017 by Kevin Frechette, Victor Kushch and Tarek Alaruri. 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, MassVentures and OMERS. The company has 125 active competitors, including 15 funded and 14 that have exited. Its top competitors include companies like Globality, Scoutbee and Keelvar Tech.

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

3^rd among 125 active competitors

Employee Count

144 as on Sep 30, 2026

Similar Companies

Cleo & 2104 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	Reports
FAIRMARKIT, INC. CIN: 82-1571086 , United States, Active	May 01, 2017	-	102 (As on Dec 31, 2021)	-
FAIRMARKIT INC CIN: 821571086 , United States, Active	Dec 31, 1999	-	53 (As on Dec 31, 2024)	-

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 $*****. 5 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	6123157	Series C	6300181	5339049	1268255	7405577
Dec 10, 2020	3351576	Series B	2937256	9128071	4436457	1984 Ventures & 2 more
Oct 23, 2019	5347676	Series A	8893325	1496722	Insight Partners	8472693

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View details of Fairmarkit's funding rounds and investors

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

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

Kevin Frechette: Co-Founder & CEO of Fairmarkit.
Contact Info: 1 email address
Victor Kushch: Co-Founder & CTO of Fairmarkit.
Contact Info: 1 email address
Tarek Alaruri: Former Co-Founder 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 9m
yfeafyr	Independent board member	-	Current	1y 1m
h{zsthu	Independent board member	-	Current	1y 9m
npzzzso	Independent board member	-	Current	5y 2m

View details of Fairmarkit's Founder profiles and Board Members

Fairmarkit's employee count trend

Fairmarkit has 144 employees as of Sep 26. Here is Fairmarkit's employee count trend over the years:

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Top competitors of Fairmarkit include Globality, Scoutbee and Keelvar Tech. 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	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
2nd	Scoutbee 2015, Wurzburg (Germany), Acquired	Provider of software connecting procurement buyers with potential supply partners	$76M	HV Capital, 42 Capital & 9 others	59/100
3rd	Fairmarkit 2017, Boston (United States), Series C	Provider of an AI platform for automating strategic sourcing processes	$78M	Man Capital, ServiceNow & 15 others	58/100
4th	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
5th	LevaData 2013, Sunnyvale (United States), Series C	Provider of AI and SaaS-based sourcing and procurement software	$64M	Tola Capital, Banneker Partners & 1 others	49/100
6th	supplier.io 2011, Westchester (United States), Seed	Provider of web-based supply chain sourcing solutions for businesses	-	Norwest, Bessemer Venture Partners	47/100
7th	Scout RFP 2013, San Francisco (United States), Acquired	Cloud-based sourcing platform	$60.9M	New Enterprise Associates, Menlo Ventures ... & 10 others	47/100
8th	ProcureShip 2015, Athens (Greece), Seed	Cloud-based procurement platform	-	True Wind	46/100
9th	Bonfire Interactive 2011, Waterloo (Canada), Acquired	Supplier sourcing solution provider	$11.1M	Battery Ventures, Accelerator Centre & 8 others	45/100
10th	PAVUS 2024, New York (United States), Seed	Provider of AI-powered platform to optimize sourcing and procurement processes	$5.2M	Sentinel Global, Kima Ventures	44/100