Omnea, a London, UK-based AI-powered procurement orchestration and supplier risk management platform, raised $20M in Series A funding.
The round was led by Accel, with participation from existing investors First Round Capital and Point Nine Capital. Backers also include angel investors David Clarke (former CTO of Workday), Claire Hughes Johnson (former COO of Stripe), and Anne Raimondi (COO of Asana).
The company will use the funding to triple its headcount by the end of 2025, investing in both the R&D and GTM teams as well as opening US offices.
Founded in 2022 by Ben Freeman and Ben Allen, Omnea is an all-in-one procurement platform that automates the full supplier lifecycle, enabling companies to control spend and manage third-party risk. With clients across Europe, North America, and APAC, the company already counts numerous industry leaders like AlphaSights, McAfee, Onfido, and TeamViewer as customers. The leadership team consists of proven operators including Freeman’s former Tessian colleagues Sabrina Castiglione as CFO (formerly CFO of Tessian, COO of Pento) and Abhirukt Sapru as CCO (former CRO of Tessian).
Alongside the funding, the company is announcing expanded AI capabilities that further improve the employee experience of the procurement process. The company is also rolling out a new suite of advanced third-party risk management features, so supplier risk can be automatically and continually assessed throughout the full supplier lifecycle.
FinSMEs
14/10/2024