AI-Driven Procurement: Levelpath's US$55m Funding Boost
Levelpath has secured more than US$55m in a Series B funding round, elevating its total capital raised to more than US$100m.
The fresh investment, led by Battery Ventures (BV) is set to propel the company’s bid to modernise procurement on a global scale.
To expand its global reach, Levelpath is leveraging its AI Agents, designed to boost efficiency for procurement teams by streamlining processes such as intake, sourcing, contracts and project pipelines – all within a unified platform.
Streamlining procurement with AI integration
Established in 2022 by Alex Yakubovich and Stan Garber, Levelpath has been AI-centric since its inception. The company has integrated AI throughout its platform, offering context-specific adaptations and evolving data models tailored to fit the dynamic enterprise environment.
The platform is engineered to enhance business impact, ensuring a streamlined procurement workflow that allows organisations to prioritise value-generating activities. The AI-native system empowers companies to experience much smoother procurement cycles.
Traditionally, procurement has depended on various tools to ease workflows, but Levelpath's platform emphasises speed and efficiency. With its AI-native Hyperbridge architecture, businesses make informed decisions rapidly, resulting in a more substantial impact.
Strategic partnership enhances growth
To catalyse further expansion, Levelpath is collaborating with BV, a global investment firm with a focus on technology.
BV brings more than four decades of experience investing in startups and established companies worldwide, offering specialised knowledge in communications, business development and growth.
Battery Ventures will contribute valuable expertise, a wealth of resources and an extensive network to the partnership. Buoyed by BV’s insights, Levelpath envisions significant growth for its business.
“We are excited to have Neeraj Agrawal, General Partner at Battery Ventures and a trusted leader in the space, join our board of directors,” say Stan and Alex. “Neeraj previously led Battery’s investment in Coupa and brings a wealth of insight to our mission.”
The partnership is poised to advance the procurement sector, facilitating quicker strategic decisions and enhancing productivity levels.
Neeraj comments: “Levelpath represents the future of enterprise procurement: intelligent, automated, and strategically aligned with business objectives.”
“The team has built remarkable technology that delivers demonstrable value to some of the world’s largest companies. We are excited to partner with them as they scale to become the definitive procurement platform for global enterprises.”
Expansion and innovation
Levelpath's latest funding round is set to drive swift expansion and accelerate product enhancements.
Stan continues: "This round gives us the fuel to double down on our mission: making procurement delightful.
“From day one, we built Levelpath to be AI-native—and now with the launch of our AI Agents, we’re showing what intelligent, autonomous procurement truly looks like. No clunky workflows. No endless handoffs. Just results.”
Levelpath’s ambition is to transform procurement into a competitive advantage for companies, with its AI Agents leading the charge. These agents come equipped with outcome-driven capabilities and are fully autonomous, adept at resolving procurement challenges without human intervention.
This empowerment allows businesses to address issues such as sourcing event creation, supplier onboarding and risk assessments efficiently, focusing on their core operations while AI Agents manage the underlying challenges.
Guided by Hyperbridge, the AI Agents offer comprehensive lifecycle management and unified grounding, ensuring seamless data connectivity without manual oversight.
Adopting Levelpath means companies can expect improved workflow efficiency and stay aligned with technological innovations, positioning themselves strategically to gain a competitive edge in the marketplace.
