Pivot, a procurement software startup with offices in Paris and New York, closed a $40 million Series B led by Forestay Capital and Notion Capital. The oversubscribed round brings total funding to $70 million since the company’s 2023 founding, according to The Next Web.
The round drew participation from Greyhound and procurement-industry operators including Ariba’s former Global VP of Sales and the founder of EcoVadis. Existing backers Hedosophia, Visionaries Club, and Emblem also participated. European reporting carries the round at €34.4 million, with cumulative funding at €60.2 million.
What Pivot Built
Pivot’s platform covers sourcing, approvals, purchasing, invoicing, payments, budgets, expenses, and reporting in a single environment with real-time ERP integrations. The company processes $3 billion in invoices annually across more than 25 countries, with enterprise customers including DoorDash, Lemonade, and Flix.
DoorDash adopted Pivot for its European entity and is using the platform to upgrade intake and vendor-onboarding workflows. “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.
The capital will fund deeper ERP integrations with SAP, Oracle, and NetSuite, expanded agentic AI capabilities, and geographic expansion.
Why Procurement
Enterprise procurement still runs through disconnected systems, email threads, spreadsheets, and manual approval chains. Legacy platforms have promised to fix this for two decades but delivered painful implementations and rigid architectures. Newer intake-and-orchestration tools improved the front end but left the underlying data layer untouched. AI features bolted onto both generations have largely underperformed because of the fragmented data they sit on.
Pivot’s pitch is that it built the system of record from scratch with agentic workflows configured on top, rather than retrofitting AI onto an existing procurement stack. Co-founder Marc-Antoine Lacroix framed the approach in the announcement: “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.”
The $40M Pattern
Pivot is the third European agentic AI startup to raise $40 million in a single month. Dust closed its Series B on a thesis that agents win the workplace through frictionless distribution inside communication surfaces. Synera raised $40 million for agentic AI in engineering workflows. Each company is targeting a different enterprise vertical with the same underlying bet: the next generation of enterprise software will be defined by agents operating inside workflows, not static software layers.
Notion Capital partner Jessica Thomas called procurement “one of the last major enterprise functions still waiting to be rebuilt for the AI era,” according to TNW. Forestay’s Deborah Pittet cited the architecture-plus-traction combination as what makes Pivot defensible against incumbent platforms.
Pivot did not disclose the round’s valuation or headcount targets. The next proof point is whether the DoorDash-Lemonade-Flix anchor roster expands into deeper Fortune 500 procurement.