Source: Omnea
Omnea, the AI-powered procurement orchestration and supplier risk management platform, has raised $20M in Series A funding to make procurement painless and give companies greater control over their spend.
Omnea is the only platform that holistically manages and automates a company’s full supplier lifecycle across both spend and risk management. Its platform increases the strength of a company’s spend controls by automating procurement processes through Omnea’s no-code workflows. In addition, Omnea ensures the process is easy to follow, meaning everyone involved – whether the requestor, legal, finance, information security, or IT teams – gets a custom experience and only has visibility of the information they need to review. This saves them time and money while preventing information security and compliance headaches.
Ben Freeman, co-founder and CEO of Omnea, said: “Procurement is fundamentally broken, making it one of the least-loved processes in businesses today. Finance and procurement leaders are fed up with seeing duplicative suppliers, missed renewals, and manually managed procurement processes. Omnea is meeting a critical need for companies of all sizes to get full control over their suppliers – not just in terms of spend, but also through the lens of information security and governance. We’ve seen significant early demand, and with our new AI capabilities and third-party risk management offering, we’re the only company in the space truly automating the full supplier lifecycle. We’re delighted to announce today’s funding so we can continue on our mission to take the pain out of procurement and supplier management once and for all.”
Read the full article: https://www.omnea.co/press-releases/series-a-announcement
