{"id":678044,"date":"2025-07-01T03:25:25","date_gmt":"2025-07-01T00:25:25","guid":{"rendered":"https:\/\/buradabiliyorum.com\/en\/next-gen-procurement-platform-levelpath-nabs-55m\/"},"modified":"2025-07-01T03:25:25","modified_gmt":"2025-07-01T00:25:25","slug":"next-gen-procurement-platform-levelpath-nabs-55m","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/next-gen-procurement-platform-levelpath-nabs-55m\/","title":{"rendered":"Next-gen procurement platform Levelpath nabs $55M"},"content":{"rendered":"
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Levelpath, a procurement software startup founded by the duo behind Scout RFP, has raised $55 million in Series<\/a> B funding led by Battery Ventures as the company looks to quadruple its revenue this year.<\/p>\n

The funding round also saw participation from existing investors, including Benchmark, which led Levelpath\u2019s $14.5 million seed round, and Redpoint, the lead investor in the $30 million Series A round announced in 2023.<\/p>\n

The startup was founded by Stan Garber and Alex Yakubovich (pictured right), whose previous startup, Scout RFP, was acquired by Workday for $540 million in 2019. During the three years Yakubovich and Garber spent working at Workday, the two identified persistent procurement challenges that motivated them to build a mobile-first, user-friendly platform.<\/p>\n

Levelpath\u2019s timing proved fortuitous; launching right as ChatGPT debuted has enabled the startup to integrate AI capabilities from its inception. This includes reviewing unstructured data in contracts and recommending less expensive, similar products and services. The company now counts Ace Hardware, Amgen, Coupang, and SiriusXM as customers.<\/p>\n

The investment signals confidence in Levelpath\u2019s fast growth and its potential to disrupt a market dominated by legacy players. Procurement software has long been controlled by outdated vendors like Coupa and Ariba, whose clunky systems often drive employees to bypass official processes. This \u201crogue\u201d spending using corporate credit cards frequently results in overspending and missed opportunities for bulk discounts, according to Battery Ventures general<\/a> partner Neeraj Agrawal.<\/p>\n

In fact, procurement represents companies\u2019 second-largest expenditure after payroll, making software improvements particularly valuable. The procurement software market was valued at $7.3 billion annually<\/a> in 2023, according to Fortune Business Insights.<\/p>\n

Although Levelpath is a newer and likely smaller player compared to its main competitors \u2014 including Zip, valued at $2.2 billion last fall, and Oro Labs, backed by Felicis \u2014 the company seems to have all the right ingredients, including Agrawal, who led Battery\u2019s Series B investment into Coupa and has joined Levelpath\u2019s board. <\/p>\n

Coupa, of course, grew into one of the most successful procurement companies of its era. It had a successful IPO in 2016 and several years later was taken private by PE firm Thoma Bravo for $8 billion.<\/p>\n

Agrawal, who likely understands what it takes to build a big business in this category, is equally impressed by Levelpath\u2019s technology<\/a> and its founders. \u201cThey have such a strong reputation for delivering product, being good people to work with, and doing what they say they\u2019re going to do,\u201d Agrawal told TechCrunch. \u201cCustomers want to work with them and help them build this next-generation product.\u201d<\/p>\n

Yakubovich and Garber have been friends since attending high school in Ohio. They bonded over their shared heritage as immigrants from the former Soviet Union and a mutual interest in entrepreneurship. The pair have been working together for over 20 years, and their stated goal is to help customers enjoy, rather than avoid, using procurement software.<\/p>\n

While procurement might seem like a mundane business function, it offers a direct and significant return on investment by helping companies save money.<\/p>\n

\u201cIt makes the cash register ring because of these savings,\u201d Agrawal said.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Levelpath, a procurement software startup founded by the duo behind Scout RFP, has raised $55 million in Series B funding led by Battery Ventures as the company looks to quadruple its revenue this year. The funding round also saw participation from existing investors, including Benchmark, which led Levelpath\u2019s $14.5 million seed round, and Redpoint, the…<\/p>\n","protected":false},"author":1,"featured_media":678045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/06\/Stan-Alex_Together.png?resize=1200,776","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[77337,75885,157410,157411,157412,157413,70917],"class_list":["post-678044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-ai","tag-enterprise","tag-battery-ventures","tag-coupa","tag-levelpath","tag-procurement-software","tag-startups"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/678044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=678044"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/678044\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/678045"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=678044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=678044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=678044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}