The California-based business negotiation technology pioneer Pactum has raised Estonian-founded negotiation startup Pactum raises €19 million in additional funding for further expansion in the US and Europe. The investment was led by 3VC.
- Founded in 2019 by Estonian entrepreneurs Martin Rand, Kaspar Korjus, and Kristjan Korjus Pactum develops a solution using advanced mathematical models, cognitive science, negotiation techniques, and intelligent bots to digitally engage third parties and negotiate mutually-benefiting contracts, leading to better pricing, payment terms, and supply continuity.
- The company is based in Mountain View with engineering and operations in Estonia. Pactum is backed by founders of Skype and Wise (ex TransferWise). Among its clients are Maersk, Walmart, and Wesco.
- The fresh round was led by Vienna-based venture capital group 3VC that invests in European technology startups with global ambition. The team provides support and access to an international co-investment network of VC partners. 3VC participated in $50 million Series B funding for Lokalise as an existing investor.
- New investors NordicNinja VC, Maersk Growth and existing Atomico, Project A, and Metaplanet also joined the round.
- Pactum will use new funding to further expand in the US and Europe and accelerate investment in its capabilities across logistics, intelligent contract optimization and retail item-level merchandising operations.
