- Pivot wants to bring AI into an industry stuck in the past: procurement.
- The startup just raised a $40 million Series B round to do so, co-led by Forestay Capital and Notion Capital.
- It counts DoorDash, Lemonade, and Flix among its customers.
Paris-based Pivot has raised $40 million in a Series B round to automate procurement.
Founded in 2023, the startup uses AI agents to automate the end-to-end procurement, including sourcing, approvals, purchasing, invoicing, and reporting.
Procurement, despite its scale, is largely analogue, leaving finance teams facing email chains and spreadsheets. Pivot was set up to bring the industry into the AI era. It counts DoorDash, Lemonade, and Flix among its customers.
The oversubscribed round was co-led by Forestay Capital and Notion Capital, with participation from procurement industry veterans including the former Global VP Sales at Ariba and EcoVadis founder. Existing investors Hedosophia, Visionaries Club, and Emblem also doubled down.
It brings Pivot’s total raised to $70 million.
The startup was co-founded by Marc-Antoine Lacroix, now CEO, Romain Libeau, now COO, and Estelle Giuly, who is CTO. The trio are well versed with the European startup ecosystem, having previously worked at Qonto, Deliveroo in France, and Wave.ai, respectively.
Notion Capital partner Jessica Thomas called procurement “one of the last major enterprise functions still waiting to be rebuilt for the AI era.”
Pivot competes against legacy procurement services like Coupa and SAP Ariba, and newer entrants such as Zip, which sits on top of fragmented systems.
“Pivot’s differentiation is architectural. It’s built from the system of record up, owning the full data layer end-to-end. That foundation is what allows agentic AI to operate inside the flow of procurement work with complete context, rather than as surface-level automation bolted onto legacy software,” Lacroix tells TFN.
The market is being driven by increasing regulatory and compliance burden around spend, vendor management, and ESG reporting, the co-founder adds. Policy is a tailwind and pushes enterprises toward platforms that can provide auditable, real-time spend data.
“AI governance frameworks emerging in the EU and US are also creating demand for enterprise-grade AI built on the right data foundations, which plays to Pivot’s architecture,” Lacroix says.
He adds that the team is focused on a team that reflects its diversity of clients, currently representing well over 15 nationalities. Women make up more than half of its board, he says.
“Our hiring practices are designed to reach broad candidate pools across the US, Europe, and beyond, and we’ll be expanding our formal diversity reporting as the company grows,” the co-founder says.
Looking forward, the cash will be used to bag more customers, launch in new markets, and develop the platform for more complex enterprise environments.
