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Pivot Soars, Parisian Procurement Startup Raises €20M in Series A Funding

Among the stars of French innovation is the trailblazing venture, Pivot, crafted by French unicorn powerhouses formers
December 15, 2023

France, often celebrated for its culinary finesse and cultural charm, is now making waves in a different arena — the startup ecosystem. In the first half of this year alone, French startups netted an impressive $4.8 billion in venture funding, firmly securing France as the third-highest recipient in Europe and the sixth globally for VC investments. The momentum carried through the latter part of the year, with standout funding rounds for rising stars like Mistral AIProvenRunTomorro, and Pimento. Among these luminaries, a new player has emerged, and it's causing a stir in the realm of procurement innovation — Pivot.

Born from the minds of former C-level executives from French unicorns QontoWave.ai, and Swile, Pivot is rewriting the playbook on procurement software. Fresh from a successful pre-seed funding round of €5 million a few months ago, the startup has now bagged an impressive €20 million in a Series A funding round. The funding was a collective show of support from existing investors, including Visionaries, Emblem, Anamcara, and Oliver Samwer, co-founder of Rocket Internet.

What sets Pivot apart is not just its innovative approach but the rapid pace at which it's garnering financial backing. Remarkably, the company has secured two rounds of funding within a mere six months since its debut. This substantial influx of capital is poised to turbocharge Pivot's growth and pave the way for the rollout of its groundbreaking Procure-to-Pay (P2P) tool across multiple European countries.

Pivot, founded in 2023 by Marc-Antoine Lacroix, Romain Libeau, and Estelle Giuly, addresses a critical gap in the procurement landscape. Their P2P tool promises to simplify the often-complex purchasing processes through intuitive interfaces and AI, ensuring swift adoption by all employees. What's truly noteworthy is the tool's deployment speed; it can seamlessly integrate within an organization in record time, eliminating the need for expensive integrators.

As Pivot embarks on this transformative journey, the €20 million injection is not just a financial milestone; it's a resounding endorsement of their vision. With a focus on simplicity, automation, and interoperability, Pivot is poised to disrupt the procurement market dominated by outdated solutions. The words of Romain Libeau, Co-founder and CEO of Pivot, resonate — they aim to empower companies with a tool that harnesses the true potential of purchasing as a driver of profitability. With customers and investors placing their trust in Pivot's trajectory, it's evident that the startup is not just moving; it's leading the charge towards a procurement revolution.

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