Arkestro, a leading predictive procurement platform accelerating enterprise scale, announces the expansion of its adoption within Chevron Corporation, one of the world's leading integrated energy companies.
To date, Chevron has used Arkestro's platform across business units to accelerate supplier cycle times, mitigate cost volatility in sourcing, and gain greater visibility across all types of spend. Chevron's global expansion with Arkestro earlier this year broadens the reach of predictive procurement transformation from the US to international teams in Buenos Aires, Angola, the Philippines, Australia, and Thailand.
"Driving fast time to material value is a strategic priority for Chevron," said Joshua Flowers, Senior Manager, SCM IT Category Management at Chevron. "Arkestro's platform provides the predictive capabilities and visibility we need to navigate market complexity and unlock bottom-line value. It is a critical platform for driving competitive performance within our operations, augmenting our team's expertise to free up their time for high-impact initiatives, and staying ahead of market volatility. With Arkestro, we can truly 'set it and forget it' thanks to its patented AI sciences. Arkestro helps us overcome the challenge of limited time and resources, enabling us to accelerate impact without overextending our team."
Having Chevron as a valued Arkestro customer marks a key milestone in Arkestro's accelerating momentum within the energy sector—the platform's fastest-growing vertical. This growth is fueled by tangible results, with oil and gas customers realizing an average price reduction of greater than 20% below the last best price on analyzed spend. In addition to these savings, customers are driving new efficiency by running three times as many sourcing events and covering more addressable spend with the same resources, achieving cost savings within the first 60 days. This deep industry adoption was recently bolstered by a $36M strategic investment led by energy sector specialists Altira Group and Aramco Ventures.
"In an industry as complex as oil and gas, leaders demand more than just savings alone—they also need full-scale AI transformation. Chevron's forward-thinking approach is a testament to the broader shift toward intelligent procurement transformation. Working with a visionary like Joshua Flowers—who is deeply committed to driving meaningful, measurable change—has been instrumental," said Rob DeSantis, CEO and co-founder of Arkestro. "Together, we're turning procurement from a reactive cost center into a proactive driver of enterprise value."
"The oil and gas industry is facing unprecedented levels of supply chain pressure, and there's a clear need for predictive, intelligent procurement to materially impact margin," said Robert Turnham, Arkestro executive advisory board member and former President of Goodrich Petroleum Corp. "Arkestro gives enterprises the ability to anticipate market shifts and optimize their sourcing strategies in real time, which is a fundamental game-changer for managing complex projects and operational costs in the oilfield."
