San Francisco: Levelpath raises over $55 million in Series B funding led by Battery Ventures, aiming to revolutionise global enterprise procurement with AI-driven automation and intelligent workflows, addressing legacy system inefficiencies and unlocking significant operational value.
Levelpath, a San Francisco-based AI-native procurement platform, has secured more than $55 million in a Series B funding round led by Battery Ventures, raising its total capital to $100 million. Founded in 2022 by Alex Yakubovich and Stan Garber, the company aims to fundamentally transform how global enterprises manage procurement—a business function that remains notably outdated despite being the second-largest operational expense after payroll.
Procurement has long been ensnared by legacy systems, marked by complex interfaces and inefficient workflows that often frustrate users and delay decision-making. Levelpath’s platform distinguishes itself by being built from the ground up with artificial intelligence at its core, rather than retrofitting older technologies. Central to this innovation is its proprietary Hyperbridge reasoning engine, which orchestrates intelligent automation and delivers real-time insights, unifying procurement operations across sourcing, contracts, intake, and spend pipelines.
The platform features AI Agents designed to act autonomously on behalf of procurement teams, handling tasks such as sourcing event creation, supplier onboarding, and risk assessment. These AI Agents—enriched with supplier-specific context and capable of connecting insights across processes—aim to boost productivity exponentially. Unlike traditional automation tools, Levelpath’s solution promotes smarter workflows that yield faster deployment and predictable outcomes without requiring complex IT support. This allows businesses to streamline procurement cycles substantially, enabling teams to focus more decisively on value-generating activities.
The funding round, which involved existing investors like Redpoint Ventures, Benchmark, 01A, New View Capital, and World Innovation Lab alongside Battery Ventures, signals strong investor confidence in Levelpath’s potential to disrupt a market historically dominated by antiquated players such as Coupa and Ariba. Battery Ventures’ General Partner Neeraj Agrawal, who has been a Forbes Midas List regular and previously spearheaded investment in Coupa—which culminated in an $8 billion acquisition in 2023—will join Levelpath’s board. Agrawal commented that Levelpath represents the future of enterprise procurement, combining intelligence, automation, and strategic alignment with business objectives. He praised the company’s technology for delivering demonstrable value to some of the world’s largest companies.
Levelpath has already attracted a growing customer base that includes leading enterprises like Ace Hardware, Amgen, Coupang, SiriusXM, Western Union, Zendesk, and SSM Health. The company’s platform is designed to address procurement challenges with agility, ensuring enterprises can manage indirect spend more collaboratively, transparently, and efficiently at scale.
The procurement software market, valued at $7.3 billion in 2023, has been in dire need of innovation, as many organisations face losses due to “rogue” spending—employees bypassing official procurement channels, often resulting in missed bulk discounts and overspending. By embedding AI deeply into procurement workflows, Levelpath tackles this issue directly, helping businesses reduce costs while enhancing compliance and supplier collaboration.
Looking ahead, Levelpath plans to use the new funds to accelerate product development, expand its go-to-market teams, and deepen strategic ecosystem partnerships. Notably, it has integrated with platforms such as Coupa’s App Marketplace, enhancing its reach and utility within the broader procurement technology ecosystem.
As enterprises confront increasing pressure to streamline operations and innovate through artificial intelligence, Levelpath’s AI-native platform and its autonomous AI Agents are poised to become critical infrastructure. According to co-founder and president Stan Garber, this technology is not merely building procurement tools but creating an intelligent infrastructure that transforms procurement into a competitive advantage—radically accelerating productivity on a global scale.
In addition to its core offerings, Levelpath is also facilitating industry education through a monthly AI Masterclass webinar series, aimed at helping business leaders operationalize AI across their organisations and optimise procurement workflows in the real world.
With its ambitious vision and strong financial backing, Levelpath is set to redefine procurement, shifting it from a historically cumbersome function into a strategic, AI-driven powerhouse for modern enterprises.
Source: Noah Wire Services
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