Arkestro Announces Customer Expansion With Chevron, Driving Predictive Procurement Transformation Across Global Markets

Rhea-AI Summary

Arkestro announced an expanded deployment of its predictive procurement platform across Chevron (NYSE: CVX) global teams, extending from the U.S. to Buenos Aires, Angola, the Philippines, Australia, and Thailand on Oct 15, 2025. The platform aims to speed supplier cycles, reduce sourcing cost volatility and increase spend visibility.

Arkestro cites oil and gas customers achieving >20% price reductions versus last best price, running 3x more sourcing events, and realizing cost savings within 60 days. The company recently secured a $36M strategic investment led by Altira Group and Aramco Ventures.

Positive

• >20% price reduction on analyzed oil and gas spend
• 3x increase in sourcing event throughput with same resources
• Cost savings realized within 60 days of deployment
• $36M strategic investment led by Altira Group and Aramco Ventures
• Global rollout across Chevron teams in 6 countries

Negative

• None.

Insights

Procurement Strategy Analyst

Chevron's expanded use of Arkestro signals measurable procurement efficiency and faster sourcing cycles across international operations.

Arkestro's platform is described as reducing supplier prices by more than 20% versus the last best price on analyzed spend and enabling three times as many sourcing events with the same resources, delivering cost savings within the first 60 days. Those metrics imply the platform targets both price and process efficiency by automating sourcing and increasing coverage of addressable spend.

The value depends on sustained, measurable savings and adoption across Chevron's business units in Buenos Aires, Angola, the Philippines, Australia, and Thailand; risks include integration, user adoption, and consistent data quality across those teams. Watch for continued rollout metrics (rate of sourcing events, realized price delta, and time-to-savings over the next 6–12 months) and any published performance summaries at Optimal '25 on Oct. 29–30, 2025.

Energy Sector Tech Adoption Specialist

A strategic customer expansion with Chevron plus a $36M investment highlights accelerating AI procurement adoption in oil and gas.

The announcement links Arkestro's growth to energy-focused backers Aramco Ventures and Altira Group and cites international deployment within Chevron. This frames the partnership as both product validation and sector-specific momentum, with claims of early material savings and faster sourcing cycles that support enterprise-scale use.

Key dependencies include sustained proof points from Chevron's international teams and the ability to replicate cited outcomes across other oil and gas clients. Monitor deployment cadence, third-party verification of the claimed 20%+ price improvement, and any Chevron-presented results at Optimal '25 for near-term confirmation within the next 2–3 months.

Chevron's global expansion with Arkestro highlights the platform's accelerating adoption in oil and gas, bolstered by backing from Aramco Ventures and Altira Group.

SAN FRANCISCO, Oct. 15, 2025 /PRNewswire/ -- Arkestro, the leading predictive procurement platform accelerating enterprise scale, today announced the expansion of its adoption within Chevron Corporation (NYSE: CVX), 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 U.S. 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."

Arkestro will be showcasing its platform and customer success stories — including several oil and gas and energy leaders — at its annual Optimal '25 Houston conference on October 29–30, 2025. Joshua Flowers from Chevron is slated to be a featured speaker, where he will discuss the company's predictive procurement transformation journey. As the premier AI event for procurement professionals, Optimal will also include keynotes, workshops, and case studies highlighting how AI and predictive technologies are transforming procurement across verticals. For more information on the company, visit: www.arkestro.com.

About Arkestro

Arkestro is the leading predictive procurement platform, accelerating enterprise spend transformation and supply chain agility. By combining AI and game theory with Arkestro's patented three science technologies—Negotiation Science, Supplier Science, and Process Science—Arkestro shifts traditional procurement to become a proactive, results-driven function. Trusted by Fortune 500 companies across industries, Arkestro unlocks trapped savings, optimizes negotiations, and enhances supplier collaboration. Learn more about Arkestro at www.arkestro.com and register for Optimal '25 Houston, the premier AI event for procurement professionals, taking place October 29–30, 2025.

About Chevron

Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations and grow new businesses in renewable fuels, carbon capture and offsets, hydrogen, power generation for data centers, and emerging technologies. More information about Chevron is available at www.chevron.com.

Media Contact
Liz Kyle
LaunchSquad
Arkestro@launchsquad.com

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SOURCE Arkestro

FAQ

What did Arkestro announce about its relationship with Chevron (CVX) on Oct 15, 2025?

Arkestro announced an expanded deployment of its predictive procurement platform across Chevron global teams, including locations in Buenos Aires, Angola, the Philippines, Australia, and Thailand.

How much does Arkestro say oil and gas customers save using its platform?

Arkestro reports oil and gas customers realize on average >20% price reductions on analyzed spend versus the last best price.

What operational efficiency gains does Arkestro claim for customers?

Customers run 3x as many sourcing events and cover more addressable spend with the same resources, with cost savings within 60 days.

Who led the $36M investment in Arkestro and why does it matter for investors?

The $36M strategic investment was led by Altira Group and Aramco Ventures, signaling sector-focused backers and growth funding for Arkestro's energy vertical expansion.

Will Chevron representatives speak about the Arkestro rollout at any upcoming events?

Yes, Joshua Flowers from Chevron is slated to speak about the predictive procurement journey at Arkestro's Optimal '25 Houston conference on Oct 29–30, 2025.