Pactum AI, a Silicon Valley-based software developer, has raised $20 million in venture capital from a consortium of backers, including Danish shipping giant Maersk, that’s betting on a future where many supplier deals are negotiated without humans.
Pactum’s autonomous bots can contact thousands of suppliers simultaneously seeking the best pricing and terms for routine corporate purchases in logistics and a wide range of other sectors. Maersk has been working with Pactum’s technology since 2021 for spot trucking services.
For years, procurement professionals have been contacted on a daily basis by thousands of AI bots making purchases of office furniture and ...