Pactum, a Mountain View, CA-based AI-based platform that enables global companies to automate personalized commercial negotiations on a massive scale, closed a $3m seed financing.
The round was led by Project A, with participation from DocuSign (NASDAQ: DOCU) and other previous investors.
Founded in 2019 and led by Martin Rand, CEO, and Kaspar Korjus, CPO, Pactum provides an AI-based platform that enables global companies to automate personalized commercial negotiations on a massive scale and uncover hidden value in supplier contracts. Once a negotiation is complete, all information is updated automatically in relevant systems such as ERP and CRM.
The web-based tool’s applications range from supplier negotiations for online marketplaces to enterprise and retail procurement negotiations.
The company has operations in Estonia.