Pivot announced it has raised $40 million in a Series B funding round, bringing the total amount raised since the company’s founding in 2023 to $70 million. The oversubscribed 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.
The company said the funding will be used to accelerate development of its agentic AI capabilities, expand into additional enterprise markets, and deepen integrations with ERP and financial systems across complex enterprise environments.
Pivot positions itself as an AI operating system for procurement, designed to replace legacy procurement software and lightweight intake tools with a unified enterprise platform. The company’s platform manages sourcing, approvals, purchasing, invoicing, payments, budgets, expenses, and reporting within a single system while providing finance and procurement teams with real-time visibility into committed spend before it impacts financial close processes.
The company currently operates in more than 25 countries and serves enterprise customers including DoorDash, Lemonade, and Flix. Pivot said its platform processes $3 billion in invoices annually.
DoorDash selected Pivot to support its European entity and is also using the company’s technology to improve intake and vendor onboarding workflows within its procurement stack.
Pivot said procurement remains one of the least automated enterprise functions, with organizations continuing to rely on disconnected systems, spreadsheets, email threads, and manual approval chains. The company believes legacy procurement platforms have struggled due to difficult implementations, rigid architectures, and heavy administrative burdens, while newer intake tools have failed to address underlying ERP integration and data architecture challenges.
The company says its platform bridges that gap by combining agentic AI workflows, real-time ERP integrations, and support for complex multi-entity environments while maintaining financial controls and ERP integrity.
KEY QUOTES:
“Pivot stood out for its ability to support complex operational needs while seamlessly fitting into our existing environment. For Wolt, and related intake and vendor onboarding workflows, we saw an opportunity to improve speed, flexibility, and user experience.”
Gordon Lee, Chief Accounting Officer, DoorDash
“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
“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
“Procurement is one of the last major enterprise functions still waiting to be rebuilt for the AI era. The category is dominated by legacy solutions that rely on cumbersome manual processes. Pivot is the only player reimagining it from the system-of-record up to serve agentic workflows. Owning the data layer end-to-end is what lets agentic AI operate inside the flow of procurement work with complete context. What Pivot is doing is game-changing, and we’re excited to be part of its journey.”
Jessica Thomas, Partner, Notion Capital
