Pivot Raises $40m Series B to Pitch Agentic-AI Procurement OS at Enterprises Legacy Software Has Not Fixed
May 21, 2026 – 7:22 am
The Paris and New York-based startup, founded in 2023, will use the new capital to deepen ERP integrations and push its agentic procurement platform into more enterprise environments. DoorDash, Lemonade and Flix are already on the customer list; $3bn in invoices already run through the system annually.
Pivot
Pivot, the Paris and New York-based procurement-software startup, has raised $40m in a Series B led by Forestay Capital and Notion Capital, taking the company’s total funding since its 2023 founding to $70m. The oversubscribed round drew participation from Greyhound and a slate of procurement-industry operators, including Ariba’s former Global VP of Sales and the founder of EcoVadis, alongside existing backers Hedosophia, Visionaries Club and Emblem. The European funding carries the round in local currency at €34.4m, with cumulative funding at €60.2m.
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Pivot operates in more than 25 countries and processes $3bn (about €2.5bn) in invoices annually, with enterprise customers including DoorDash, Lemonade and Flix. DoorDash adopted Pivot for its European entity and is also using the platform to upgrade intake and vendor-onboarding workflows in parts of 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, in the announcement.
"For Wolt, and related intake and vendor onboarding workflows, we saw an opportunity to improve speed, flexibility, and user experience."
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.
The company’s framing for the round, on co-founder Marc-Antoine Lacroix’s statement, is that procurement and finance leaders are not asking for another workflow layer.
"They need to know what the business is committing to spend before it becomes a problem at close," he said.
"Pivot gives enterprises that visibility, reinforced by agentic AI that shifts the manual grind from a human burden to a machine burden."
The product Pivot is selling against has been one of the slower-moving categories in enterprise software. 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. Legacy platforms have promised to fix this for two decades and delivered painful implementations and rigid architectures. A newer wave of intake-and-orchestration tools improved the front end but left the underlying data layer untouched, and the AI features bolted onto both generations have largely underperformed because of the fragmented data they sit on top of.
Pivot’s pitch is that it has built the system of record from scratch, with agentic workflows configured on top, rather than retrofitting AI onto an existing procurement stack. The platform covers sourcing, approvals, purchasing, and payments in a single system.