Pivot Raises $40M Series B for AI Procurement Platform

Paris-based startup Pivot has successfully closed a $40 million Series B funding round, injecting significant capital into its mission to revolutionize enterprise procurement through agentic artificial intelligence. The substantial investment, led by prominent venture capital firms Forestay Capital and Notion Capital, with crucial participation from Greyhound, Hedosophia, Visionaries Club, and Emblem, underscores the growing demand for intelligent automation in financial operations. The round also saw backing from influential figures within the procurement sector, including former Ariba Global VP Sales and the founder of EcoVadis, signaling strong industry validation.

This latest funding propels Pivot's total capital raised to over $70 million, empowering the company to accelerate its development of advanced AI capabilities. The funds will be strategically deployed to expand its reach into new enterprise markets and enhance integrations with a wider array of ERP and financial systems, particularly within complex, multi-entity corporate structures. The company aims to solidify its position as a leader in transforming procurement from a traditionally manual and fragmented process into a streamlined, AI-driven function.

Founded in 2023, Pivot addresses a critical pain point for many large organizations: the lack of real-time visibility into committed spend. Current procurement workflows often rely on disparate systems, spreadsheets, and manual approvals, leading to financial blind spots and difficulties in forecasting and closing periods. Pivot's platform offers a unified solution, providing finance and procurement leaders with immediate insight into financial commitments before they become liabilities. This proactive approach is powered by agentic AI, which automates complex workflows, shifting the burden from human resources to intelligent systems.

The procurement technology market is ripe for disruption, with legacy solutions often proving cumbersome and inflexible. While newer intake tools have improved user experience, they frequently fail to address the underlying data architecture and ERP integration challenges. Pivot differentiates itself by building an enterprise-grade AI operating system from the ground up, focusing on the system of record. This foundational approach allows its agentic AI to operate with complete context across the entire procurement lifecycle, from sourcing and approvals to invoicing, payments, and reporting.

“Finance and procurement leaders consistently tell us they need more than just another workflow layer; they require foresight into business commitments before they create problems,” stated Marc-Antoine Lacroix, co-founder of Pivot. “Our agentic AI shifts the manual effort from people to machines, providing essential visibility. This funding enables us to bring our solution to more customers, enter new markets, and tackle even more complex enterprise environments.”

Pivot's technology is already making a significant impact, serving enterprise clients such as DoorDash, Lemonade, and Flix across more than 25 countries. The platform currently manages an impressive $3 billion in invoices annually. “Procurement is one of the last major enterprise functions awaiting an AI-era overhaul,” commented Jessica Thomas, Partner at Notion Capital. “Pivot is uniquely positioned by reimagining procurement from the system-of-record upwards, enabling agentic workflows and owning the data layer for truly contextual AI application.”