Levelpath, a San Francisco-based procurement technology startup, has closed a $55 million Series B funding round. The round was led by Battery Ventures with participation from Redpoint Ventures, Benchmark, 01A, New View Capital, and World Innovation Lab.
Founded in 2022, Levelpath helps large enterprises modernize procurement through its AI-powered platform. The software enables streamlined supplier discovery, RFP management, and contract negotiations. Its user-friendly interface and predictive analytics engine help businesses reduce procurement cycle times and increase cost efficiency.
The funding will be used to expand the company’s R&D capabilities, enhance AI modules, and support customer acquisition globally. Levelpath also plans to introduce new features such as smart negotiation agents and dynamic pricing models.
The procurement tech market has seen growing demand for automation and AI solutions. Levelpath addresses this with deep integrations into enterprise systems such as ERPs and CRMs, offering seamless workflows and real-time insights.
With this raise, Levelpath is poised to challenge incumbents and bring a consumer-grade experience to enterprise procurement. The startup will also increase hiring across engineering and customer success to meet enterprise deployment needs.
Experts suggest that Levelpath could become a defining player in the $9 trillion global procurement industry if it continues to innovate and scale with speed.
