Pactum Launches Artificial Intelligence Tool for Commercial Negotiations

The AI Negotiation system is backed by founders of Skype and TransferWise and built by luminaries from Skype, Starship Technologies and the Government of Estonia's e-Residency program Launching today, Pactum is an AI-based system that helps global companies to autonomously offer personalized, commercial negotiations on a massive scale. The Mountain View, California company, with engineering and operations in Estonia, has raised an initial $1.15 Million in pre-seed funding to augment negotiation and AI capabilities as well as scale operations. Pactum has also filed the patent this week related to its technology IP. Inefficient contracting has been estimated to cause firms to lose between 17% to 40% of the value on a given deal, depending on circumstances, according to research by KPMG. Pactum's AI helps companies improve their bottom line by implementing bespoke negotiation services for large volumes of incremental partners in every market, that might have previously been unmanaged.