Levelpath, a provider of AI-native procurement solutions, has announced the close of a $55 million Series B funding round, led by Battery Ventures, bringing its total capital raised to $100 million for the development and expansion of its enterprise procurement platform. This latest funding round saw participation from other investors including Redpoint Ventures, Benchmark, 01A, New View Capital, and World Innovation Lab.
As part of the investment, Neeraj Agrawal, General Partner at Battery Ventures, will join Levelpath’s board of directors. Mr. Agrawal, a recognized figure in the SaaS industry, previously led Battery’s investment in Coupa, a spend management platform that was acquired for approximately $8 billion in 2023.
“Levelpath represents the future of enterprise procurement: intelligent, automated, and strategically aligned with business objectives,” said Mr. Agrawal. “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.”
Procurement typically represents the second-largest operational expense for enterprises, yet it has remained one of the least modernized business functions. Levelpath addresses this challenge with its proprietary Hyperbridge reasoning engine, which underpins its AI-native platform. This architecture enables intelligent automation and capabilities designed to meet modern enterprise demands.
“Procurement touches every part of a business, yet it’s been held back by tools that fight against you instead of working with you,” said Alex Yakubovich, Co-founder and CEO of Levelpath. “We didn’t retrofit old systems with AI. We reimagined what procurement could be when intelligence is built into every interaction.”
Since launching its flagship platform, following earlier Seed and Series A rounds led by Benchmark and Redpoint Ventures respectively, Levelpath has gained momentum by offering an AI-native experience focused on speed, transparency, and return on investment at scale. The company’s AI Agents facilitate autonomous, strategic AI capabilities embedded directly into the platform, providing supplier-centric context and connecting insights across critical processes. These agents are designed to proactively address procurement challenges such as sourcing event creation, supplier onboarding, and risk assessments, leading to enhanced productivity.
Powered by Levelpath’s AI-native architecture, these AI Agents unify model grounding, context management, and orchestration, while ensuring secure and compliant data handling. This enables organizations to benefit from rapid AI innovation and enhanced decision-making without extensive IT support.
Levelpath plans to utilize the new funding to accelerate product development, expand its go-to-market team, and deepen ecosystem partnerships, aiming to meet the growing enterprise demand for AI-native procurement solutions. The company has established strategic integrations, including its presence in Coupa’s App Marketplace.
“AI is transforming how enterprises operate, and procurement is no exception,” said Stan Garber, Co-founder and President of Levelpath. “We’re not just building procurement tools, we’re building the intelligent infrastructure that turns procurement into a competitive edge that will radically accelerate productivity at scale.”
Headquartered in San Francisco, Levelpath serves a range of leading enterprises globally, including Ace Hardware, Amgen, Coupang, Fortrea, GATX, SiriusXM, SSM Health, and Western Union.
