A procurement-software startup founded in 2023 raised $40m in a Series B led by Forestay Capital and Notion Capital, bringing total funding to $70m. The oversubscribed round included participation from Greyhound and procurement-industry operators, with existing backers also joining. The company operates in more than 25 countries and processes $3bn in invoices annually for enterprise customers such as DoorDash, Lemonade, and Flix. DoorDash uses the platform for European operations and to improve intake and vendor-onboarding workflows. The funding will strengthen agentic-AI capabilities, expand into new enterprise markets, and build deeper integrations with ERPs and financial systems.
"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."
"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."
"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."
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