Pivot raises $40M Series B to push agentic-AI deeper into enterprise procurement workflows

Pivot Secures $40M Series B to Transform Enterprise Procurement

Pivot Technologies SAS has raised $40 million in Series B funding led by Forestay Capital and Notion Capital, bringing total funding since its 2023 founding to $70 million 1

1

. The oversubscribed round drew participation from Greyhound and procurement-industry veterans, including Ariba's former Global VP of Sales and the founder of EcoVadis, alongside existing backers Hedosophia, Visionaries Club, and Emblem 1

1

. The Paris and New York-based startup pitches its software as an AI operating system for procurement, targeting an enterprise function that has remained largely resistant to modernization despite decades of promises from outdated legacy software providers.

Pivot operates in more than 25 countries and processes $3 billion in invoices annually, with enterprise customers including DoorDash, Lemonade, and Flix 2

2

. DoorDash adopted Pivot for its European entity and is using the platform to upgrade intake and vendor-onboarding workflows within its existing stack. "Pivot stood out for its ability to support complex operational needs while seamlessly fitting into our existing environment," said Gordon Lee, DoorDash's Chief Accounting Officer 1

1

.

Agentic-AI Tackles Procurement's Fragmented Data Problem

The capital will go toward deepening Pivot's agentic-AI capabilities, expanding into new enterprise markets, and building out integrations with ERPs and financial systems 1

1

. Procurement at large companies still travels through disconnected systems, email threads, spreadsheets, and manual approval chains, leaving finance teams without visibility into committed spend until it has already moved 1

1

. That gap shows up at close, in forecasting, and in the time staff spend reconciling planned spend against booked spend 2

2

.

Legacy platforms have promised to fix this for two decades and delivered painful implementations and rigid architectures, while newer intake-and-orchestration tools improved the front end but left the underlying data layer untouched 1

1

. AI features bolted onto both generations have largely underperformed because of the fragmented data they sit on top of [1](https://thenupplied by two decades of promises from legacy software provides. The image directly illustrates the solution Pivot provides, showing seamless integration and connectivity, which contrasts with the fragmented data problem discussed in this section.

AI-Powered Procurement Platforms Cover End-to-End Workflows

The agentic-AI procurement operating system covers sourcing, approvals, purchasing, invoicing, payments, budgets, expenses, and reporting inside a single environment, with real-time ERP integrations and support for multi-entity enterprise structures 1

1

. The platform offers configurable agent workflows that automate approvals, vendor onboarding, invoice processing, and budget tracking 2

2

. This architecture lets procurement and finance teams see committed spend before it becomes a budget problem 2

2

.

"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. Pivot gives enterprises that visibility, reinforced by agentic AI that shifts the manual grind from a human burden to a machine burden" 1

1

.

European Agentic-AI Enterprise Software Sees Active Funding Sprint

The round sits inside an active fortnight for European agentic-AI enterprise software. Dust closed its own $40 million Series B earlier this month, while Synera raised $40 million for agentic AI in engineering workflows, making Pivot the third European $40 million-tier enterprise agentic-AI raise inside a month 1

1

. Each company targets a different vertical slice of the same broader bet: that the next generation of enterprise software will be defined by agents operating inside the flow of work rather than by static workflow layers 1

1

.

Lead investor Deborah Pittet at Forestay framed the investment around the view that enterprise procurement has been overdue for a generational shift, with the architecture-plus-traction combination making Pivot a defensible bet against incumbent platforms 1

1

. Jessica Thomas, partner at Notion Capital, said procurement is "one of the last major enterprise functions still waiting to be rebuilt for the AI era," dominated by legacy solutions reliant on manual processes. "Pivot is the only player reimagining it from the system-of-record up to serve agentic workflows" 1

1

. Following the company's $21.6 million initial round in December 2023, the Series B marks the second institutional round inside thirty months, with the next proof point being how quickly the announced expansion pulls the customer roster beyond its current base 1

1

.