Artificial-intelligence-powered procurement platform startup Pivot Technologies SAS revealed today that it has raised $40 million in new funding to expand its agentic AI capabilities and push deeper into enterprise markets.

Founded in 2023, Pivot pitches its software as an “AI operating system” for procurement, covering sourcing, approvals, purchasing, invoicing, payments, budgets, expenses and reporting in a single platform. The company says it currently processes $3 billion in invoices annually for customers across more than 25 countries.

Procurement is one of the least automated functions inside large enterprises. Purchase commitments move through email, spreadsheets and manual approval chains and finance teams often do not see what has been spent until weeks after the fact. That gap shows up at close, in forecasting and in the time staff spend reconciling planned spend against booked spend.

Legacy procurement suites have offered a fix for years, with mixed results. Implementations run long and the architectures stay rigid. A newer wave of intake and orchestration tools has improved the front-end experience without solving the underlying data and integration challenge. Pivot argues the AI features layered on top of both approaches have underperformed because the data beneath them is fragmented.

Pivot’s platform rebuilds the system of record from the ground up so agentic workflows can run with full context. The platform offers real-time integrations with dozens of ERPs, support for multi-entity environments and configurable agent workflows that automate approvals, vendor onboarding, invoice processing and budget tracking. The company says the architecture lets procurement and finance teams see committed spend before it becomes a budget problem.

Customers include DoorDash Inc., Lemonade Inc. and Flix SE. DoorDash is using Pivot to support its European entity and is layering the software over parts of its existing procurement stack for intake and vendor onboarding. “Pivot stood out for its ability to support complex operational needs while seamlessly fitting into our existing environment,” said Gordon Lee, chief accounting officer at DoorDash.

The Series B round was led by Forestay Capital and Notion Capital, with participation from Greyhound, existing investors Hedosophia Group Ltd., Visionaries Club GmbH and Emblem, and procurement industry veterans including the former global vice president of sales at Ariba and the founder of EcoVadis SAS. The round takes Pivot’s total funding to $70 million since inception.

The capital will go toward further development of the agentic AI tooling, expansion into new enterprise markets and deeper integrations with ERP and financial systems, the company said.

“Finance and procurement leaders tell us the same thing: They don’t need another workflow layer,” said co-founder Marc-Antoine Lacroix. “They need to know what the business is committing to spend before it becomes a problem at close.”

Image: Pivot