Atomico leads the $11 million in Series A funding round to Pactum

Pactum, the Estonian-founded artificial intelligence platform that enables companies to automate personalised commercial negotiations, has raised USD 11 million in a Series A investment round.

The funding round was led by Atomico, an investment fund; with participation from Metaplanet, an early-state investment fund; Checkout.com CTO Ott Kaukver; TransferWise chairman and co-founder Taavet Hinrikus; and Teleport co-founder Sten Tamkivi.

The recent funding will allow the startup to scale up the deployment phase of its platform and brings the company’s total investment to USD15 million.

Pactum will use the funding to scale up the deployment phase of its artificial intelligence-based automated negotiation platform in response to what the company calls a “significant demand” in a statement.

“The company aims to rapidly expand its team to partner with a number of major organisations, further hone its automated technologies and expand the application of its platform into a range of new industries,” it said.

Ellex team in Estonia comprising Antti Perli, Merlin Liis and Hanna Pahk provided advice on Estonian law aspects, supporting Stacy Kim and Wilson Sonsini Goodrich & Rosati team, who advised Atomico on the deal.

Atomico, founded in 2006 and headquartered in London, is an international investment firm that focuses on helping disruptive technology companies scale globally. It partners with technology founders at Series A and beyond with a particular focus on Europe, leveraging deep operational experience to supercharge their growth. The company’s team of founders, investors, and operational leaders have been responsible for global expansion, hiring, and marketing at companies from Skype, Google, and Twitter to Uber and Spotify. It specializes in seed, startup, Series A, early venture, mid venture, late venture, emerging growth, and growth capital investments.