AI Procurement Platform Secures Major Series B Funding
Pivot has raised $40m in a Series B funding round to expand its AI-powered procurement operating system. The round was led by Forestay Capital and Notion Capital with participation from Greyhound, procurement industry veterans, and existing investors including Hedosophia, Visionaries Club, and Emblem.
This company has built an enterprise AI platform to handle everything around procurement and finance. We’re talking about sourcing, approvals, purchasing, invoicing, payments, budgets, expenses—the whole package. The idea is simple: automate the tangled mess of systems and manual steps companies use now.
Reality is, big organizations still lean on spreadsheets, endless email threads, and approval tools that barely talk to each other. It slows everything down and leaves leaders in the dark about where the money’s actually going, right when they need clear answers. Pivot aims to solve this by embedding intelligence into the entire procurement lifecycle.
The platform integrates directly with enterprise resource planning systems and financial tools. This allows finance teams to see committed spend in real time before it becomes a reporting issue. It shifts reconciliation work from manual processes to automated machine execution.
Agentic AI Driving Procurement Transformation
Pivot’s system is built around agentic AI capabilities. These AI agents handle everything from sourcing and approvals to vendor onboarding, invoice processing, and reporting. They keep financial controls in check along the way.
The company wants procurement to run like a real-time, automated record system. That way, things move faster with fewer headaches, and the financial data is spot-on. It also helps enterprises manage complex multi-entity environments with more control and visibility.
A key advantage of the platform is its deep integration layer. Pivot connects directly into ERP systems and financial infrastructure. This ensures that procurement data is synchronised across the organisation without manual reconciliation.
The platform processes large volumes of enterprise financial activity. It currently manages around $3bn in annual invoices. It also operates across more than 25 countries and serves global organisations including DoorDash, Lemonade, and Flix.
Pivot positions its architecture as system-first rather than interface-first. This means the platform owns the underlying data layer rather than sitting on top of legacy systems. This structure allows agentic AI to operate with full context across procurement workflows.
Investor Confidence and Enterprise Demand Growth
AI-driven procurement platforms replace static tools with real-time automation, compliance, and enterprise-wide financial visibility. Source: Created by Ventureburn
Investors view Pivot as part of a broader shift in enterprise software. Companies are moving away from static tools and towards AI-driven systems that execute workflows. Procurement is one of the most complex enterprise functions undergoing this transformation.
The round was co-led by Forestay Capital and Notion Capital. Both firms highlighted the structural inefficiencies in procurement systems. They noted that enterprises require real-time visibility into spending and automated compliance across multiple jurisdictions.
Existing investors also increased their commitment. This reflects confidence in Pivot’s product traction and enterprise adoption. The company has expanded rapidly since its founding in 2023 and has already secured major enterprise customers.
The company’s leadership believes regulatory pressure is accelerating adoption. Increasing compliance requirements around spend tracking, ESG reporting, and vendor governance are pushing enterprises towards automated systems.
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Scaling Enterprise AI Procurement Infrastructure
The new capital will be used to expand Pivot’s agentic AI capabilities. The company plans to deepen integrations with ERP and financial systems. It also aims to extend its platform into new enterprise markets across Europe and North America.
A key focus is improving automation across complex procurement environments. This includes multi-entity organisations with layered approval processes. Pivot’s AI agents are designed to manage these workflows with minimal human intervention.
The company also plans to invest heavily in product development. This includes enhancing predictive capabilities for procurement planning and improving real-time financial visibility. These upgrades are expected to strengthen decision-making across finance and procurement teams.
Pivot’s leadership believes procurement is entering a structural reset. Legacy systems are being replaced by AI-native platforms that operate as full systems of action. The company aims to position itself as a core infrastructure layer in this shift.
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