PARIS — Pivot secured $40 million in a Series B funding round on Tuesday to expand its artificial intelligence software designed to transform traditional corporate procurement. The Paris-based startup, which was originally founded in 2023, closed the oversubscribed investment round with co-leads Forestay Capital and Notion Capital providing the primary financial backing for the software development and market expansion.
Marc-Antoine Lacroix, the chief executive officer and co-founder of Pivot, said procurement remains one of the last major enterprise functions still waiting to be rebuilt for modern corporate workflows. The new financing brings the total capital raised by the company to $70 million since its inception, allowing the firm to scale its operations and significantly enhance its existing customer base.
The platform automates 5 core operational tasks including sourcing, approvals, purchasing, invoicing, and reporting for corporate clients, thereby replacing outdated methods like email chains and spreadsheets that corporate finance teams historically utilized. "Pivot’s differentiation is architectural," Lacroix said in a statement detailing the company strategy. "It’s built from the system of record up, owning the full data layer end-to-end."
Two former executives from Ariba and the founder of EcoVadis participated in the financing round alongside prominent corporate clients such as DoorDash, Lemonade, and Flix. The specialized software helps these organizations handle regulatory compliance and manage real-time spend data through context-rich automation rather than superficial upgrades to legacy software systems already deployed in the market.
Over half of the startup's board of directors comprises women, and its internal staff represents more than 15 nationalities, according to the executive team at Pivot. The fresh capital will be deployed by the company to refine the platform for complex enterprise environments and attract additional corporate clients across an increasing number of international markets.
