Omnea raises $25M to tackle the painfully annoying procurement market

Oct. 14, 2024 - TechCrunch

There are budgets, management sign-offs, pre-existing IT contracts, security vetting, price negotiations, and other steps that can complicate the process. (Would you expect any less from a startup geared at helping businesses keep the upper hand in price negotiations?) Omnea is tackling a mighty challenge, one that has arguably crept up on the unassuming world of work.

Omnea cites figures that estimate the average time for a procurement process is six months, involving up to 11 stakeholders in an organization. Longer term, there remain questions about how procurement fits into the wider suite of back-office tools that a company uses.

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