NEW YORK, May 21, 2026 (GLOBE NEWSWIRE) -- Pivot, the AI operating system for procurement, today announced that it has raised $40 million in a Series B funding round, taking the total amount raised since the company's founding in 2023 to $70 million. The oversubscribed round was led by Forestay Capital and Notion Capital, with participation from Greyhound and procurement industry veterans, including the former Global VP Sales at Ariba and the founder of EcoVadis, as well as existing investors including Hedosophia, Visionaries Club, and Emblem.

The capital will accelerate further development of Pivot's agentic AI capabilities, expand into new enterprise markets, and deepen integrations with ERPs and financial systems across complex enterprise environments.

Pivot currently operates in more than 25 countries, serving enterprise customers including DoorDash, Lemonade, and Flix, and processes $3 billion in invoices annually. Pivot's customer momentum reflects growing enterprise demand for a procurement platform that combines agentic AI capability with financial rigor.

DoorDash selected Pivot to support its European entity, and is also working with Pivot to enhance parts of its current procurement stack for intake and vendor onboarding processes. The engagement reflects the need for flexible solutions that can support complex operating environments while integrating into existing systems.

"Pivot stood out for its ability to support complex operational needs while seamlessly fitting into our existing environment. For Wolt, and related intake and vendor onboarding workflows, we saw an opportunity to improve speed, flexibility, and user experience.", Gordon Lee, Chief Accounting Officer, DoorDash

Neither legacy software nor modern intake tools have fixed procurement

For most enterprises, procurement remains one of the least automated functions. Spend commitments travel through disconnected, outdated systems, email threads, spreadsheets, and manual approval chains, leaving finance teams with limited visibility until long after commitments have been made. This results ...