Pivot lands $40M to bring AI to procurement in Series B co-led by led Forestay Capital and Notion Capital — TFN

Paris-based Pivot has raised $40 million in a Series B round to automate procurement.

Founded in 2023, the startup uses AI agents to automate the end-to-end procurement, including sourcing, approvals, purchasing, invoicing, and reporting.

Procurement, despite its scale, is largely analogue, leaving finance teams facing email chains and spreadsheets. Pivot was set up to bring the industry into the AI era. It counts DoorDash, Lemonade, and Flix among its customers.

The oversubscribed round was led by Forestay Capital and Notion Capital, with participation from procurement industry veterans including the former Global VP Sales at Ariba and EcoVadis founder. Existing investors Hedosophia, Visionaries Club, and Emblem also doubled down.

It brings Pivot’s total raised to $70 million.