Danish logistics giant Maersk is among the investors in Pactum AI, an Estonian-American automated negotiation startup that has raised USD20 million in Series B investment.
Pactum’s AI agents unlock value by conducting thousands of simultaneous negotiations on behalf of large companies with their suppliers, resulting in better deals for both sides.
“While the current wave of enthusiasm for AI has been led by large language models capable of providing information and images, there is broad consensus in the tech industry that the next and potentially much larger wave of AI will be led by AI agents capable of increasingly complex, multi-step tasks,” the company said in a statement.
“Since its founding in 2019, Pactum AI has autonomously negotiated billions in spend and developed the world’s largest library of negotiation behavioural learning, as each autonomous negotiation helps the AI learn how to better negotiate the next one,” the startup added.
To date, the largest autonomously negotiated deal was worth just over USD28 million and generated savings of $750,000, Pactum said. Autonomous negotiations take place in ten languages worldwide, with Japanese and Spanish among the fastest-growing languages.
The Series B investment was led by Karma Ventures, which specialises in backing Europe’s most promising deep-tech software startups, and was joined by Danish logistics giant Maersk, which also uses Pactum to conduct autonomous negotiations with suppliers. Other existing investors in this round include 3VC, Atomico, Project A and SuperAngel, as well as new investor Portfolion. This brings Pactum’s total investment to date to USD55 million.
Pactum was founded by Kaspar Korjus, one of the founders of the Estonian e-residency programme, Martin Rand and Kristjan Korjus. More than half of the company’s employees are based in Estonia, including its engineering team, which provides AI capabilities to some of the world’s largest companies from offices in Tallinn and Tartu.
