Pivot raises $40M in Series B to expand AI-driven procurement

Written by Aarav Garg

Pivot aims to expand its AI-powered procurement platform and deepen its integration with corporate finance systems, and has raised $40 million in a Series B funding round.

The oversubscribed round was led by Forestay Capital and Notion Capital, with participation from existing investors including Greyhound, Procurement Industry Executives, Hedosophia, Visionaries Club, and Emblem. This raise brings Pivot’s total funding to $70 million since its founding in 2023.

“Finance and procurement leaders are saying the same thing: They don’t need another workflow layer. They need to know what the company is spending on before a problem looms large and becomes an issue. “This funding will allow us to bring that approach to more customers, more markets and more complex enterprise environments.” Marc-Antoine Lacroix, Pivot Co-Founder.

The Paris- and New York-based company offers an AI operating system designed to manage procurement workflows, from sourcing, approvals, purchasing, invoicing, payments, and reporting. Pivot said the platform aims to replace fragmented procurement processes that often rely on spreadsheets, email chains and disconnected legacy systems.

The company currently operates in more than 25 countries and processes approximately $3 billion in invoices annually. Customers include DoorDash, Lemonade, and Flix.

Pivot said the new funding will support the development of agent AI capabilities, expansion into further enterprise markets, and further integration with ERP and financial systems. The company said the increase in demand reflects the growing interest of finance and procurement teams seeking greater automation, visibility and control over their companies’ spending processes.