Pivot Raises €34.4M for AI Procurement OS

Paris-based startup Pivot has secured €34.4 million in a Series B funding round. This brings their total funding to €60.2 million. What's interesting is that the company is building an AI operating system for procurement. This latest funding round was oversubscribed and led by Forestay Capital and Notion Capital. Existing investors also participated. Pivot was founded in 2023. The company aims to give organizations real-time visibility into committed spending. They also automate workflows for purchasing, invoicing, payments, and reporting, all within a single platform. The co-founder, Marc-Antoine Lacroix, states that enterprises need to know what they are committing to spend before it becomes a problem. He says Pivot provides this visibility using "agentic AI." The bottom line is that this funding will help Pivot bring its approach to more customers and markets, addressing a common challenge for businesses.