Levelpath, a procurement automation startup founded by the team behind Scout RFP, has secured $55 million in Series B funding led by Battery Ventures. Existing investors like Benchmark and Redpoint also participated, having backed the company in previous seed and Series A rounds totaling over $44 million.
The startup, led by Stan Garber and Alex Yakubovich, launched its mobile-first platform in sync with the rise of AI tools like ChatGPT, allowing it to embed artificial intelligence into its system from the beginning. Levelpath uses AI to parse unstructured data in contracts and suggest optimized purchasing decisions—cutting costs and improving compliance.
Its current customer list includes major enterprises such as Amgen, Ace Hardware, Coupang, and SiriusXM. The platform is positioned to address inefficiencies in legacy procurement systems, which often push employees to bypass formal procedures and overspend.
The company plans to use the fresh funding to quadruple its revenue and scale adoption in a procurement market valued at $7.3 billion annually. The new capital also reflects growing investor confidence in AI-native tools disrupting traditional B2B workflows.
To read the full announcement, visit Levelpath here.