How AI Procurement Platform Pivot Raised $70m

Pivot – an AI operating system for procurement – has raised US$40m in its latest funding round, taking its total amount raised since 2023 to US$70m. 

The Series B funding round was led by Forestay Capital and Notion Capital, with participation from Greyhound and EcoVadis, as well as existing investors Hedosophia, Visionaries Club and Emblem. 

Built for enterprise complexity

With its latest capital raised, Pivot will accelerate the development of its agentic AI capabilities, expanding into new markets and deepening its integrations with ERPs and financial systems across complex environments. 

For most enterprises, procurement continues to be one of the least automated functions. While a new generation of intake and orchestration tools have improved user experience at the front end, the data architecture and ERP integration remain a challenge.

“Enterprise procurement has been overdue for a generational shift,” says Deborah Pittet, Partner at Forestay Capital.

"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."

An AI operating system built for procurement

Pivot fills this gap between legacy platforms and lightweight intake tools with an enterprise-grade AI operating system. 

The platform provides users with the ability to manage the complete procurement lifecycle – sourcing, approvals, purchasing, invoicing, payments, budgets, expenses and reporting – in a single modern platform.

Pivot reports that the platform maintains the integrity of the ERP while giving procurement and finance teams real-time visibility into committed spend before it becomes exposed. 

For Pivot, the latest funding marks an inflection point in how finance and procurement leaders think about control.

"Finance and procurement leaders tell us the same thing: they don't need another workflow layer," says Marc-Antoine Lacroix, Co-Founder of Pivot.

"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."

"Procurement is one of the last major enterprise functions still waiting to be rebuilt for the AI era,” adds Jessica Thomas, Partner at Notion Capital.

"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."