Paris-based procurement software startup Pivot has raised $40 million in a Series B round, the company said on May 21. The oversubscribed financing was led by Forestay Capital and Notion Capital, with participation from Greyhound, procurement industry veterans, and existing backers including Hedosophia, Visionaries Club, and Emblem.
The new funding brings Pivot’s total capital raised since its 2023 founding to $70 million. The company said it will use the proceeds to further develop its agentic AI capabilities, expand into new enterprise markets, and deepen integrations with ERP and financial systems.
Pivot builds an AI operating system for procurement that gives companies real-time visibility into committed spend and automates workflows across purchasing, invoicing, payments, and reporting. The company says it now operates in more than 25 countries and counts DoorDash, Lemonade, and Flix among its enterprise customers.
The round comes as investors continue to back enterprise software companies focused on applying AI to core finance and procurement operations, particularly in categories still dominated by legacy systems.
The new funding brings Pivot’s total capital raised since its 2023 founding to $70 million. The company said it will use the proceeds to further develop its agentic AI capabilities, expand into new enterprise markets, and deepen integrations with ERP and financial systems.
Pivot builds an AI operating system for procurement that gives companies real-time visibility into committed spend and automates workflows across purchasing, invoicing, payments, and reporting. The company says it now operates in more than 25 countries and counts DoorDash, Lemonade, and Flix among its enterprise customers.
The round comes as investors continue to back enterprise software companies focused on applying AI to core finance and procurement operations, particularly in categories still dominated by legacy systems.