Pivot, a Paris, France-based procurement automation startup, has successfully raised €20 million in a Series A funding round, just 72 days after a €5 million pre-Seed funding round.
SaaS Investors
The Series A round was backed by existing investors, including Visionaries, Emblem, Anamcara, and Oliver Samwer, co-founder of Rocket Internet.
Visionaries is an early-stage venture capital fund based in Berlin, Germany. Founded in 2019, the firm seeks to invest in companies operating in the business-to-business, information technology, big data, software-as-a-service, and Internet of Things sectors.
Founded in 2023, Emblem is a venture capital firm based in Paris, France. The firm seeks to invest in (pre) seed-stage companies.
Anamcara is a pre-/seed stage fund investing angel-size checks in B2B companies across Europe.
Pivot Use of Funds
The funding will be used to accelerate Pivot's growth trajectory and support further expansion in the European market.
About Pivot
Pivot is a Paris-based startup offering full-service spend control software designed for procurement teams. The software focuses on simplifying and optimizing procurement processes, with native integrations with ERPs like Netsuite and tools such as Slack, Otka, Personio, and BambooHR. The software automates tasks for finance, legal, compliance, and security teams, reducing manual work and improving efficiency.
Funding Details
Company: Pivot, SAS
Raised: €20.0M
Round: Series A
Funding Month: December 2023
Investors: Visionaries, Emblem, Anamcara, and Oliver Samwer
Company Website: https://www.pivotapp.ai/
Software Category: Procurement
Source: https://tech.eu/2023/12/13/former-qonto-and-swile-executives-startup-pivot-raises-eur20m-for-european-expansion/