London-based Omnea raises €42.4M to make buying and managing suppliers easier for businesses

Omnea has secured new funding to expand its AI-powered procurement platform and enhance its supplier management capabilities.

London-based Omnea, an AI-native platform that streamlines procurement across teams and systems, has raised $50M (nearly €42.40M) in Series B funding. This brings the company’s total raised funding to over $75M.

The round was led by Insight Partners and Khosla Ventures, with participation from Accel, Point Nine, First Round Capital, and Prosus.

Jeff Lieberman, Managing Director at Insight Partners, says, “Of the many players we looked at in the market, Omnea had the happiest customers out there. The company uses AI to deliver a modern, seamless procurement process that helps employees get the suppliers they need in a quick and compliant manner.”

“From disruptive tech companies to Fortune 500 giants, Omnea’s customers are saving millions of dollars a year by reducing duplicative and underutilised suppliers. We are thrilled to partner with the Omnea team in this next chapter of growth.”

Vinod Khosla of Khosla Ventures adds, “AI is reshaping how work gets done inside large enterprises, especially in outdated areas like procurement. Omnea is the first full AI supplier relationship management platform, automating everything from sourcing and onboarding to tracking performance and risk, to turn procurement from an administrative burden into a growth driver.”

An AI platform that streamlines procurement

Omnea’s growth comes as businesses face financial pressure from higher interest rates, increased costs, and changing regulations while managing a larger number of suppliers. Departments are working with more technology vendors, consultants, and third-party providers, partly due to AI adoption.

Procurement teams are responsible for controlling spending and addressing third-party risks, but often rely on inefficient systems that slow operations and limit their influence. Omnea aims to address these challenges by expanding its AI-driven capabilities to strengthen procurement’s strategic role.

Founded in 2022, Omnea focuses on streamlining procurement for teams, employees, suppliers, and stakeholders in finance, risk, IT, and legal. 

Its platform provides a single entry point for employee requests in natural language, coordinates workflows across relevant stakeholders and systems, and serves as a centralised record of all suppliers used within a business.

Capital utilisation

Over the past year, Omnea has increased revenue fivefold and tripled its workforce, adding enterprise customers such as Spotify, Albertsons, Wise, Adecco, and MongoDB across North America and Europe. 

The company plans to use the funds to develop its AI Supplier Relationship Management (AI SRM) offering and increase hiring in the US and UK.

Ben Freeman, Omnea Founder and CEO, says, “Businesses hold a treasure trove of supplier data, but its value is locked away in spreadsheets, inboxes and siloed point solutions. Our AI SRM platform unlocks that data at every level of the organisation: proactively flagging expired certifications for risk teams, launching RFPs for procurement, and delivering relevant reports to CFOs—all through a modern, intuitive interface.”

Freeman credits Omnea’s rapid growth to a small, high-performing team, including former Tessian executives Abhirukt Sapru (CCO) and Sabrina Castiglione (CFO).