Pivot has raised $40 million in an oversubscribed Series B round as the three-year-old procurement software company pushes deeper into enterprise finance, a sign that investors are betting on a new generation of AI-native systems to challenge long-established platforms.
According to the company, the latest financing takes total funding since its 2023 launch to $70 million. Forestay Capital and Notion Capital led the round, with participation from Greyhound, procurement industry...
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veterans, and existing backers including Hedosophia, Visionaries Club and Emblem.
Founded by French fintech executives Marc-Antoine Lacroix, Romain Libeau and Estelle Giuly, Pivot is building what it describes as an AI operating system for procurement. Rather than acting as a lightweight intake layer on top of older software, the platform is designed to connect directly into the financial system of record, giving finance teams real-time visibility over committed spend before it reaches the ledger.
That approach targets one of the most persistent weak points in corporate operations. Procurement at many large organisations still depends on spreadsheets, email chains and manual approval paths, while legacy systems from vendors such as SAP Ariba and Coupa have often been criticised for cumbersome implementation and inflexible architecture. Newer intake tools improved the front end, but frequently left back-end data flows and ERP integration largely unchanged.
Pivot says its platform covers the full procurement chain, including sourcing, approvals, purchasing, invoicing, payments, budgets, expenses and reporting. The company says it already operates in more than 25 countries and processes $3 billion in invoices a year.
Its customer list includes DoorDash, Lemonade and Flix. DoorDash said Pivot had been selected to support its European entity, Wolt, particularly around intake and vendor onboarding workflows. Gordon Lee, chief accounting officer at DoorDash, said the company had seen an opportunity to improve speed, flexibility and user experience while fitting into its existing environment.
The new funding is intended to support further development of Pivot’s agentic AI tools, broaden its reach into new enterprise markets and deepen integrations with ERP and financial systems across complex organisations. Marc-Antoine Lacroix said finance and procurement leaders do not need another layer of workflow software, but better visibility into what the business is committing to spend. He said the funding would help the company extend that model to more customers and more demanding enterprise settings.
Investors framed the company as part of a broader shift in enterprise software. Deborah Pittet of Forestay said procurement was overdue for a generational reset, while Jessica Thomas of Notion Capital argued that Pivot’s control of the data layer gives its AI systems the context needed to work inside live procurement processes.
Source: Noah Wire Services
