2026-03-05
Announcing Lio's $30M Series A, led by Andreessen Horowitz! Procurement still operates like an administrative back-office function: rigid software, manual workflows and endless headcount. Enterprises spend over $180 billion annually on procurement talent and roughly $10 billion [video]
TechCrunch
Lio, which uses AI agents to automate enterprise procurement, including document reading and supplier evaluation, raised a $30M Series A led by a16z
Lio's co-founders know firsthand that procurement — the process enterprises use to purchase services from vendors — is often a bottleneck.