Pivot, an AI-native procurement operating system for enterprises, has raised $40 million in a Series B funding round led by Forestay Capital and Notion Capital. The round brings the company’s total funding to $70 million since launching in 2023 and will support expansion of Pivot’s agentic AI capabilities, ERP integrations, and international growth.
Enterprise Procurement Built Around AI
Pivot develops an AI-driven procurement platform designed to replace fragmented enterprise workflows across sourcing, approvals, invoicing, payments, budgeting, expenses, and reporting. The platform integrates directly with ERP and financial systems, giving procurement and finance teams real-time visibility into company spending before costs reach financial reporting stages.
The company currently operates in more than 25 countries and processes over $3 billion in invoices annually for enterprise customers including DoorDash, Lemonade, and Flix.
Addressing Procurement Inefficiencies
Many enterprises still rely on disconnected procurement systems, spreadsheets, manual approvals, and legacy software that create operational delays and poor financial visibility. Pivot positions its platform as an alternative to both traditional procurement software and lightweight intake tools that fail to solve underlying data and integration issues.
“Enterprise procurement has been overdue for a generational shift. Pivot is among the rare companies building an agentic AI-first platform, with the architecture, customer traction, and timing to define this category for the next decade. We are proud to be backing such a strong and visionary founding team as they reshape how enterprises run procurement.” – Deborah Pittet, Partner, Forestay Capital
Expanding AI Procurement Infrastructure
The new funding will be used to deepen AI-powered workflow automation, strengthen integrations across complex enterprise environments, and accelerate expansion into additional enterprise markets.
“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.” – Marc-Antoine Lacroix, Co-Founder, Pivot