Pactum AI raises $54 million to automate supplier contract negotiations

Pactum AI, which automates supplier negotiations for enterprises, raised $54 million in a Series C round led by Insight Partners, bringing its total funding to over $100 million. The company’s AI agents use chatbots to negotiate favorable terms on supply contracts and one-time purchases, helping clients like Walmart and Honeywell cut costs and improve deal flexibility. Pactum says its platform can unlock up to 5% in savings and is designed to simplify integration by using spreadsheet inputs. The funding will help Pactum expand its market presence and enhance its AI offerings.