Omnea, a London-based procurement platform, has raised $50 million in Series B funding to expand its AI-powered supplier relationship management (AI SRM) tools. The round was led by Insight Partners and Khosla Ventures, with participation from Accel, Point Nine, First Round Capital, and Prosus, bringing Omnea’s total funding to more than $75 million.
Founded in 2022, Omnea provides an AI-native intake and orchestration system that centralizes procurement, automates workflows across finance, risk, IT, and legal, and creates a single source of truth for supplier data. The company has grown revenue 5x in the past year and tripled its headcount, signing new customers including Spotify, Albertsons, Wise, Adecco, and MongoDB.
“Of the many players we looked at in the market, Omnea had the happiest customers out there. From disruptive tech companies to Fortune 500 giants, Omnea’s customers are saving millions of dollars a year by reducing duplicative and underutilised suppliers.” ~ Jeff Lieberman, managing director at Insight Partners.
Ben Kung, VP of Finance at Spotify, added: “Omnea’s AI capabilities and workflow automation can replace fragmented systems, endless email threads, and manual spreadsheets. This enables the possibility of a single source of truth for every request, review, and risk check.”
CEO and founder Ben Freeman said the new funding will accelerate Omnea’s AI SRM vision: “Businesses hold a treasure trove of supplier data, but its value is locked away in spreadsheets, inboxes and siloed point solutions. Our platform unlocks that data at every level of the organization, from risk monitoring to CFO reporting.”
Vinod Khosla, founder of Khosla Ventures, framed the company’s position in enterprise software: “Omnea is the first full AI supplier relationship management platform, automating everything from sourcing and onboarding to performance tracking and risk.”
Omnea will use the capital to expand its U.S. and U.K. operations, grow its engineering and go-to-market teams, and further build out its supplier intelligence platform.
