Pivot Raises $40 Million for Enterprise Procurement Platform
Pivot, an AI-powered procurement operating system, closed a $40 million Series B funding round led by Forestay Capital and Notion Capital. The company has now raised $70 million since its 2023 founding.
The platform consolidates sourcing, approvals, purchasing, invoicing, payments, budgets, expenses, and reporting into a single system. It processes $3 billion in invoices annually across more than 25 countries for customers including DoorDash, Lemonade, and Flix.
What the Money Funds
Pivot will use the capital to expand its AI agents and automation capabilities, enter additional enterprise markets, and deepen connections with ERP and financial systems.
The company's core pitch addresses a specific operational pain point: procurement remains one of the least automated enterprise functions. Most organizations still rely on disconnected systems, spreadsheets, email chains, and manual approval workflows.
The Problem Pivot Addresses
Legacy procurement platforms struggle with difficult implementations and rigid structures. Newer intake tools fail to integrate with ERP systems or handle complex multi-entity environments.
Pivot's approach combines agentic AI workflows with real-time ERP integrations while maintaining financial controls. The platform gives finance and procurement teams visibility into committed spending before it affects financial close processes.
Marc-Antoine Lacroix, Pivot's co-founder, said: "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."
Customer Traction
DoorDash selected Pivot to support its European operations and improve intake and vendor onboarding workflows. Gordon Lee, DoorDash's Chief Accounting Officer, said the platform "stood out for its ability to support complex operational needs while seamlessly fitting into our existing environment."
Operations leaders evaluating procurement software should consider how AI can optimize procurement processes and financial controls within their organizations.
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