Pivot Raises $21.6 Million in Series A Funding

The French procurement tool provider plans to use the new capital to fuel its expansion in Europe and redefine the procurement landscape.

Pivot, a procurement tool provider, has raised $21.6 million in a Series A funding round, following a $5.4 million pre-seed round two months ago.
The company plans to use the new capital to redefine the procurement landscape and fuel its expansion in Europe.
Pivot's tool incorporates an intake solution, accounts payable automation, vendor management, and budgeting and analytics capabilities.
The French startup was founded in May 2023 and has been scaling rapidly, with plans to grow its team from 20 to 50 by the end of 2023 and to around 100 by the end of 2024.
Pivot's investors from its seed round, including Visionaries, Emblem, Cocoa, Anamcara, and Financière Saint James, have pre-empted the company with the new Series A funding round at an increased valuation.