Pivot Raises $40 Million Series B to Replace Legacy Procurement Software with an Enterprise AI Operating System

Pivot, the AI operating system for procurement, led by Marc-Antoine Lacroix, Estelle Giuly, and Romain Libeau, has raised $40 million in a Series B funding round, taking 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 and procurement industry veterans, including the former Global VP Sales at Ariba and the founder of EcoVadis, as well as existing investors including Hedosophia, Visionaries Club, and Emblem. 

The funding will help Pivot expand its agentic AI capabilities, enter new enterprise markets, and deepen integrations with ERP and financial systems.

The company operates in more than 25 countries, processes $3 billion in annual invoices, and serves customers including DoorDash, Lemonade, and Flix. DoorDash is using Pivot for procurement workflows in Europe and to improve intake and vendor onboarding within its existing procurement stack.

“Pivot stood out for its ability to support complex operational needs while fitting seamlessly into our existing environment,” said Gordon Lee, Chief Accounting Officer at DoorDash. “For Wolt and related intake and vendor onboarding workflows, the platform offered improvements in speed, flexibility, and user experience.”

For most enterprises, procurement remains heavily manual, spread across disconnected systems, spreadsheets, emails, and approval chains that limit visibility and complicate forecasting and financial reconciliation.

Pivot argues that legacy procurement systems create operational friction, while newer intake tools improve user experience without solving the underlying ERP integration and data fragmentation challenges that limit effective AI automation.

“Enterprise procurement is overdue for a generational shift,” said Deborah Pittet, Partner at Forestay Capital. “Pivot is building an agentic AI-first platform with the architecture, traction, and vision to redefine how enterprises manage procurement.”

Pivot positions itself as an AI operating system for procurement, managing sourcing, approvals, purchasing, invoicing, payments, budgets, expenses, and reporting within a single platform.

The platform is designed to preserve ERP integrity while giving finance and procurement teams real-time visibility into committed spend, with agentic workflows, ERP integrations, and support for complex multi-entity environments aimed at improving both speed and financial control.

“Finance and procurement leaders don’t need another workflow layer, they need visibility into spending commitments before they become problems at close,” said Marc-Antoine Lacroix, Co-Founder of Pivot. “Pivot combines that visibility with agentic AI that shifts manual procurement work from humans to machines, helping enterprises operate faster and with stronger financial control.”

“Procurement remains one of the last major enterprise functions yet to be rebuilt for the AI era,” said Jessica Thomas, Partner at Notion Capital. “Pivot is reimagining the category from the system-of-record layer upward, enabling agentic AI to operate with full context inside procurement workflows.”