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

By Aarav Garg

Pivot has raised $40 million in a Series B funding round as the company looks to expand its AI-powered procurement platform and deepen integrations with enterprise financial systems.

The oversubscribed round was led by Forestay Capital and Notion Capital, with participation from Greyhound, procurement industry executives and existing investors including Hedosophia, Visionaries Club and Emblem. The latest raise brings Pivot’s total funding since its launch in 2023 to $70 million.

“Finance and procurement leaders tell us the same thing: they don’t need another workflow layer. They need to know what the business is committing to spend before it becomes a problem at close. Pivot gives enterprises that visibility, reinforced by agentic AI that shifts the manual grind from a human burden to a machine burden. This funding lets us bring that approach to more customers, more markets, and more complex enterprise environments,” said Marc-Antoine Lacroix, Co-Founder, Pivot. 

The Paris- and New York-based company provides an AI operating system designed to manage procurement workflows across sourcing, approvals, purchasing, invoicing, payments and reporting. Pivot said the platform is aimed at replacing 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 capital will support development of its agentic AI capabilities, expansion into additional enterprise markets and further integration with ERP and financial systems. The company said growing demand reflects increasing interest from finance and procurement teams seeking greater automation, visibility and control over enterprise spending processes.