Omnea Secures $20 Million for Procurement Platform Expansion
Omnea, an innovative procurement orchestration and supplier risk management platform based in London, UK, has successfully raised $20 million in Series A funding. This significant investment round was led by Accel, a well-respected venture capital firm, and saw participation from existing investors, including First Round Capital and Point Nine Capital. Additionally, several prominent angel investors contributed to this funding, including David Clarke, the former CTO of Workday; Claire Hughes Johnson, the former COO of Stripe; and Anne Raimondi, the COO of Asana. The financial backing will play a crucial role in allowing Omnea to scale its operations and enhance its offerings in the competitive market of AI-driven procurement solutions.
Founded in 2022 by the dynamic duo Ben Freeman and Ben Allen, Omnea is designed to be a comprehensive and powerful procurement platform that automates the entire supplier lifecycle.
This functionality empowers businesses to take control of their spending while effectively managing third-party risks. The company has already made remarkable strides in attracting a diverse client base across Europe, North America, and the Asia-Pacific region, with notable industry leaders such as AlphaSights, McAfee, Onfido, and TeamViewer among its clientele. To bolster its growth and innovation, Omnea plans to triple its headcount by the close of 2025, focusing on expanding both its research and development (R&D) and go-to-market (GTM) teams. The company also has plans to establish offices in the United States to better meet the needs of its growing customer base.
In conjunction with this funding round, Omnea is excited to announce an enhancement of its AI capabilities, which will significantly improve the overall employee experience when navigating the procurement process. With a keen focus on delivering advanced features, the company is also introducing new tools for third-party risk management, allowing for the automatic and ongoing assessment of supplier risks throughout the entire supplier lifecycle. The leadership team at Omnea is comprised of seasoned professionals, including Freeman's former colleagues from Tessian, such as Sabrina Castiglione, who serves as CFO, and Abhirukt Sapru, the Chief Commercial Officer. As the company evolves and expands, its commitment to innovation and customer success remains steadfast, positioning it for continued growth in the AI-powered procurement space.
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