CPO Rising’s ProcureTech Pulse series continues this week with fresh supply management technology news and updates covering a few recent major announcements. If you are a sourcing, procurement, or spend management solution provider and you are continually innovating the way that procurement and supply chain leaders and practitioners drive value, we’d love to hear from you. Please drop us a note at info at cporising dot com. Thanks, and enjoy!
Fairmarkit Launches Total Agentic Sourcing for Organizations to Leverage AI Across Enterprise Spend
BOSTON — Fairmarkit announced Total Agentic Sourcing, the first platform to deploy AI agents that can autonomously source both tail and strategic spend, from a tactical $500 purchase to a $500M contract, in the same environment.
The company stated that the power behind the platform is KIT, an intelligent assistant backed by a network of agents built for every sourcing workflow. The platform natively integrates with SAP Ariba, SAP S/4HANA, Coupa, Oracle, ServiceNow, and others. KIT adapts to each organization’s categories, policies, and buying rules, then executes across the full sourcing workflow. For routine purchases, KIT runs the entire process without human intervention. For complex strategic events, it accelerates the work while category managers make the calls on risk, relationships, and trade-offs.
According to Kevin Frechette, co-founder and CEO of Fairmarkit, “Enterprise AI is long on promises, short on proof,” he said. “Procurement is the exception. The CPOs who have deployed agentic sourcing at scale have the most credible AI story in the building — and now, the P&L to prove it.”
Read the full announcement here.
Aravo Launches Aravo AI to Automate Third-Party Risk Workflows
SAN FRANCISCO — Aravo, a leading provider of third-party risk and resilience solutions, announced the launch of Aravo AI, a native AI capability embedded within its Intelligence First™ Platform. Aravo AI introduces a set of AI agents built directly into third-party risk workflows, enabling organizations to automate manual processes, access real-time insights, and make decisions with full transparency and auditability.
The company stated that rather than relying on point-in-time reviews and manual coordination, teams can use Aravo AI to run more continuous processes that adjust as new risks and requirements emerge. This makes evaluations more consistent and improves the quality of the data behind decisions. Teams can also review, challenge, and override AI outputs at any point, with clear visibility into the data and sources behind each recommendation so they can reduce manual work and instead focus on judgment and decision-making.
According to Dean Alms, chief product officer at Aravo, “Third-party risk management leaders are both excited and cautious about AI,” he said. “They see the potential to automate work and move faster, but they also need to trust how decisions are made. Aravo AI is built for that reality, combining real workflow impact with the transparency and control required in risk and compliance.”
Read the full announcement here.
Lio Raises $30M Series A Funding for Procurement AI
NEW YORK — Lio, the company building an agentic AI platform for enterprise procurement, announced a $30 million Series A funding round led by Andreessen Horowitz (a16z), with participation from SV Angels, Harry Stebbings and Y Combinator. The new capital brings Lio’s total funding to $33 million and will be used to accelerate product development and support its expansion into the U.S.
The company stated that enterprises spend over $180 billion annually on procurement talent, compared to roughly $10 billion on procurement software, reflecting how much work still happens manually around existing systems. Workflows remain slow and manual, with requests moving through layers of systems, rules, and approvals. Even with heavy investment in eProcurement software, decisions still happen at human speed.
Instead, Lio provides enterprises with a virtual, agentic procurement department. Its agents operate as a procurement workforce, executing the same standard operating procedures as experienced buyers, shared service centers, or outsourced BPOs, but at machine speed and scale.
According to Vlad Keil, founder and CEO of Lio, “The procurement organization of the future will look fundamentally different from today,” he said.
“Teams won’t scale through headcount or more tools, but through AI agents that execute work end-to-end. Procurement teams will shift from doing manual work to directing and supervising an AI workforce. Lio was built to create virtual buyers that work alongside human teams, together shaping the procurement workforce of the future,” Keil added.
Read the full announcement here.
Oracle Introduces Fusion Agentic Applications
LONDON — During Oracle AI World last month, Oracle announced Fusion Agentic Applications, a new class of enterprise applications powered by coordinated teams of specialized AI agents that are outcome-driven, proactive and reasoning based, and engineered for enterprise execution within business processes, including supply chain.
The company stated that unlike copilots, AI assistants, or other AI add-ons, being native to the transactional system enables Fusion Agentic Applications to execute in real time, at enterprise scale, with full governance.
According to Steve Miranda, executive vice president of applications development for Oracle, “The way work gets done no longer matches the speed, complexity, or expectations of modern business as too much time is spent managing processes instead of driving outcomes,” he said.
“With Fusion Agentic Applications, we are moving enterprise software beyond passive systems of record and providing our customers with applications that can reason, decide, and act in pursuit of defined business objectives. This is a huge step forward for the industry and will help our customers achieve faster outcomes, focus their valuable time on strategic activities, and redefine how work works,” Miranda shared.
Read the full announcement here.
