Pactum is an AI-based system that enables global companies to automate personalized commercial negotiations on a massive scale.
Pactum helps companies to unlock value from long tail by automatically negotiating contracts.
Pactum was founded in 2019 by Martin Rand, Kristjan Korjus and Kaspar Korjus. The company is headquartered in Mountain View, California, with an office in Tallinn, Estonia.
Pactum's system adds value and saves time for both the Pactum client and their negotiation partner by aligning their values to determine win-win agreements via an easy-to-use chat interface that implements best-practice negotiation strategies.
Pactum's system learns to understand the value of different contract terms and uses AI to perform high-quality and considerate negotiations that reach a win-win outcome.
Pactum's “negotiation-as-a-service” platform hits general availability from today and has already been used by several major enterprises. Clients include Walmart, the world’s largest retailer, which first signed up for a pilot program last year to automate negotiations with its supplier network.
Pactum’s solution steps in and generates win-win deals for the vendor and the company by responding to priorities of both sides of the table and integrating relevant data and objectives ahead of time.
Pactum is backed by Atomico, Project A, Metaplanet, DocuSign, Checkout.com CTO Ott Kaukver and others. The company raised $11M in Series A round on Apr 27, 2021. This brings Pactum's total funding to $15.2M to date.