Pactum in a $11 million series A round led by Atomico.

Pactum, a Talinn, Estonia-based AI platform that automates commercial contract negotiations, announced completing a series A funding round worth $11 million.

The money was raised from investors led by UK-based Atomico and included contributions from existing shareholders from Project A as well as from Metaplanet and angel investors Ott Kaukver (Checkout.com CTO), Taavet Hinrikus (Wise chairman & co-founder), and Sten Tamkivi (Teleport co-founder).

As part of the deal, Atomico partner Ben Blume will join the board at Pactum.

Pactum, founded in in 2019 by Kaspar Korjus, Kristjan Korjus and CEO Martin Rand, developed an AI-based system that helps global companies to automatically offer personalized suggestions on how to go about commercial negotiations. The company previously raised $3 million back in 2020.