Pivot, a Paris-based company developing an AI operating system for procurement, has successfully raised $40 million in a Series B funding round. This oversubscribed round, led by Forestay Capital and Notion Capital, elevates the company's total funding to $70 million since its inception in 2023. The investment will fuel Pivot's mission to provide enterprises with real-time visibility and automation in their financial commitments.
Addressing Procurement Inefficiencies
For most large organizations, procurement remains a significantly under-automated function, plagued by outdated and disconnected systems. Critical spending commitments are often tracked through a maze of emails, spreadsheets, and manual approval chains. This fragmentation leaves finance teams with limited visibility into financial exposure until long after decisions have been made.
A Modern AI-Powered Solution
Pivot aims to bridge the gap between cumbersome legacy platforms and newer, lightweight intake tools with its enterprise-grade AI operating system. The platform is uniquely built from the system of record upwards, managing the entire procurement lifecycle in a single, modern interface. This integrated approach covers everything from sourcing and approvals to invoicing, payments, and reporting for greater efficiency.
The system provides finance and procurement teams with crucial real-time visibility into committed spend before it impacts the bottom line. Its agentic AI capabilities are designed to configure workflows and automate manual processes, shifting the burden from employees to the machine. This allows organizations to operate with greater speed while maintaining strong financial discipline across complex environments.
Investor Confidence and Market Traction
The funding round signals strong investor confidence in Pivot's potential to redefine a market that incumbents have struggled to modernize. Jessica Thomas, a partner at lead investor Notion Capital, noted that Pivot is reimagining procurement by owning the data layer end-to-end. This comprehensive data control is what enables its agentic AI to operate effectively within procurement workflows.
The company already serves major enterprise clients like DoorDash, Lemonade, and Flix across more than 25 countries, processing $3 billion in invoices annually. DoorDash, for instance, selected Pivot to support its European entity and enhance its intake and vendor onboarding processes. This adoption highlights the platform's flexibility and ability to integrate seamlessly into existing complex systems.
Strategic Use of New Capital
With the new capital, Pivot plans to accelerate the development of its agentic AI features and expand its reach into new enterprise markets. A key focus will be on deepening integrations with various ERPs and other financial systems to support increasingly complex corporate structures. This strategic allocation of funds is aimed at solidifying the company's position as a category leader.
Co-founder Marc-Antoine Lacroix stated that the funding will help bring Pivot's solution to more customers and markets. He emphasized that leaders need visibility into spending before it becomes a problem, a core issue the platform resolves. The investment empowers the company to further its goal of transforming manual work into an automated, machine-driven process.
This $40 million investment marks a significant milestone for Pivot, equipping it with the resources to challenge legacy systems in the procurement sector. By combining a robust data architecture with advanced agentic AI, the company is poised to deliver a new standard of financial control and operational efficiency. The successful funding round underscores a growing enterprise demand for intelligent, integrated solutions that can finally modernize procurement.