The AI Operating System for Procurement Just Raised $40 Million In Series B

By the time some retire, they will have spent months–if not years–copying and pasting data from a ticketing system to an ERP. Or reconciling invoices that don’t match. Mundane, dysfunctional, and costly. Layer AI on top of these processes, and the outcome isn’t always efficiency—it can just as easily automate risk.

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Multiply that across every purchase request, every contract, every payment your business commits to. Multiply it across every company tolerating the same broken process because the software promised control and delivered complexity. Procurement systems strain under a pace they were never built to handle. Fragmentation follows, pulling decisions, execution, and financial reality out of sync. The teams that hold up under the pressure have the structure that keeps the enterprise connected. We started Pivot to end it.

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Our $40 million Series B

We raised $40 million, led by Forestay Capital and Notion Capital, with participation from Greyhound, industry veterans, and renewed support from Emblem, Visionaries Club, and Hedosophia.

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In just three years, we’ve grown our team to 100 people and expanded our offices to New York City and London. From day one, we made a deliberate decision to go global. Our presence in 25+ geographies and trust from companies like DoorDash, Wolt, Lemonade, and Flix are a reflection of just that. 

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“We never set out to build a French or even a European company. We set out to build one that mirrors the global nature of procurement, and that requires a global mindset from the start,” said Romain Libeau, Co-founder and COO, Pivot. 

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Closing this round is a major milestone for us, but more importantly, it validates what we’ve believed from the beginning: enterprises don’t need another workflow layer; they need total visibility into what the business is committing to spend, before it becomes a problem at close.

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"My background in procurement software goes back to SAP in the early 90s, and I've seen plenty of platforms come and go. Pivot is one of the few that's genuinely impressed me. They're building for the agentic enterprise from the foundation up. That's a fundamentally different approach from retrofitting AI onto legacy software. They'll set the standard for what enterprise procurement looks like going forward,” said Paul Melchiorre, former Global VP Sales at Ariba.

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The gap legacy and modern intake tools failed to close

Many enterprise companies are facing a pivotal moment in how they manage procurement. As businesses scale, so does the complexity behind every purchase request, approval, contract, invoice, and payment. Yet critical spend still moves through disconnected tools, siloed communication, and manual processes that make operations slower, visibility weaker, and financial data harder to trust at scale.

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At the same time, AI is creating a new wave of expectations across enterprise software. AI agents and AI-powered workflows promise speed and automation, but many players overlook a fundamental issue: AI is only as reliable as the data behind it. Incomplete or poorly structured data cannot produce trustworthy outcomes, no matter how advanced the model is. 

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The result: either a robust system nobody used or a pleasant experience built on broken data. That gap was our opportunity. 

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The problem we set out to solve

Pivot was born in 2023 with one simple promise: to make procurement better. A lot better. Better than the unfulfilled promises of legacy software that enterprises have long tolerated, and better than modern intake tools that improved the user experience but never solved the underlying problem. 

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With both legacy software and modern intake tools each solving half the problem, we are solving the whole thing. From the beginning, we invested deeply in the system of record, the ERP, the financial backbone where every request, approval, invoice, and payment converges. Powerful by design, but historically inaccessible to anyone outside of finance.

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That's why we built a system of engagement on top of it: a simple, intuitive layer that makes procurement easy to adopt across the entire business. One where employees move fast without compromising procurement processes, budgets, or compliance.

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We believe these foundations matter more than ever. Clean data, strong processes, and adoption are what allow companies to scale procurement without sacrificing speed, control, or flexibility.

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"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 and CEO, Pivot

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What this round funds

With this round, we are focusing our investment in two places: further developing our Agentic AI capabilities and continuing to deepen our ERP capabilities. 

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A major focus will be expanding our agentic capabilities. In enterprise procurement, no two enterprises’ needs are exactly alike, which means AI capabilities cannot follow a one-size-fits-all approach. We will continue investing in Pivot’s AI Agent Studio, where companies can deploy custom agents tailored to their workflows, governance requirements, and operational needs, with a clear focus on delivering measurable ROI.

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We will also continue strengthening the foundation that makes these capabilities possible: the system of record. Deep, robust ERP integrations remain core to our vision, especially for complex enterprise environments. We have invested heavily in making our integrations reliable and scalable, and we will continue doubling down on that investment as we grow.

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“We believe the future of procurement will belong to companies that combine reliable systems of record and strong operational foundations with AI capabilities that are flexible, trusted, and built for real enterprise complexity,” said Estelle, Co-founder and CTPO, Pivot. 

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Our commitment  

Procurement has spent years trapped between rigid systems that get ignored and lightweight tools that fail under enterprise complexity. We believe businesses should not have to choose between adoption and control.

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That is what we are building at Pivot: an AI operating system for procurement that combines intuitive workflows, trusted financial data, and the operational depth enterprises require.

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This next chapter is about continuing to push that vision forward: helping companies move faster, operate with greater confidence, and build procurement processes designed for the way modern businesses work.

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If you’re interested in joining the team, be sure to check out our careers page.