Lio, an agentic AI platform for enterprise procurement automation, has raised $30 million in Series A funding led by Andreessen Horowitz (a16z), with participation from SV Angels, Harry Stebbings and Y Combinator. The round brings total funding to $33 million and will support product development and expansion into the U.S. market.
Transforming Enterprise Procurement
Procurement represents one of the largest operational spending areas in enterprises, yet many processes remain slow and manual despite significant investment in eProcurement software. Organizations spend more than $180 billion annually on procurement talent while software adoption remains comparatively limited, leaving many workflows dependent on human review and fragmented systems.
Lio introduces Agent Operating Procedures (AOPs), enabling AI agents to autonomously execute complex procurement workflows. Instead of adding another software layer, the platform provides enterprises with a virtual procurement workforce that performs tasks traditionally handled by procurement teams or outsourced service providers.
AI Agents Executing Procurement Workflows
Lio’s AI agents manage procurement operations end-to-end, including request triage, supplier comparison, quote analysis, negotiations, vendor onboarding and purchase execution. These processes run across enterprise systems such as ERPs, email, contracts and supplier networks, enabling procurement operations to scale without proportional increases in headcount.
Vlad Keil, founder and CEO of Lio, said:
"The procurement organization of the future will look fundamentally different from today. Teams won’t scale through headcount or more tools, but through AI agents that execute work end-to-end. Procurement teams will shift from doing manual work to directing and supervising an AI workforce. Lio was built to create virtual buyers that work alongside human teams, together shaping the procurement workforce of the future."
Growing Adoption Across Global Enterprises
Founded in 2023, Lio’s platform has already managed billions of dollars in enterprise procurement spending. The technology is used by dozens of Global 2000 and Fortune 500 companies across sectors including automotive, chemicals, logistics, medical technology and pharmaceuticals.
Enterprises deploying the platform report high adoption rates, significant reductions in manual procurement work and measurable cost savings. In several cases, organizations have automated large portions of previously outsourced procurement operations, enabling internal teams to focus on strategy, compliance and supplier relationships.