Omnea, a London-based company specializing in procurement and supplier management, announced a $20 million round of Series A funding. The raise, led by Accel, follows a year of eightfold revenue growth for Omnea.
The company offers an AI-powered platform featuring no-code workflows for procurement orchestration, alongside tools for accounts payable and third-party risk management. Its solution allows every team involved in the procurement process, including legal, finance, information security and IT professionals, to access only the information that’s pertinent to them.
“Omnea is meeting a critical need for companies of all sizes to get full control over their suppliers – not just in terms of spend, but also through the lens of information security and governance,” Ben Freeman, Omnea’s co-founder and CEO, said in a statement. “We’ve seen significant early demand, and with our new AI capabilities and third-party risk management offering, we’re the only company in the space truly automating the full supplier lifecycle.”
Backed by its fresh capital, Omnea plans to triple the size of its team by the end of 2025. The company will grow its research and development and go-to-market teams, as well as open new offices across the U.S.
