Levelpath Secures $55M: A Game-Changing Leap for AI Procurement

Key Points

1. Levelpath was founded by Stan Garber and Alex Yakubovich, who previously created Scout RFP (acquired by Workday for $540 million).

2. The startup integrates AI to review unstructured data and enhance user experience, aiming to make procurement more efficient and enjoyable.

3. Levelpath's customer base includes major companies like Ace Hardware, Amgen, Coupang, and SiriusXM.

4. The $55 million Series B funding was led by Battery Ventures, with participation from Benchmark and Redpoint, and Neeraj Agarwal joined Levelpath's board.

5. The procurement software market is valued at $7.3 billion annually, with Levelpath competing against established players like Coupa and Ariba as well as newer entrants like Zip and Oro Labs.