Levelpath Raises $55+ Million to Reimagine Enterprise Procurement, led by Battery Ventures
Other investors participated in the funding round as well, including Redpoint Ventures, Benchmark, 01A, New View Capital and World Innovation Lab. As part of the funding, Battery Ventures General Partner Neeraj Agrawal will join Levelpath's board of directors alongside representatives from existing investors.
Agrawal, who has made multiple appearances on the Forbes Midas List and coined the "T2D3" growth paradigm for SaaS businesses, previously led Battery's investment in Coupa, a leading spend management platform that went public in 2016 and was acquired for approximately $8 billion in 2023.
"Levelpath represents the future of enterprise procurement: intelligent, automated, and strategically aligned with business objectives," said 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."
Solving the $13 Trillion Procurement Challenge
Procurement is the second-largest business expense after payroll, yet it remains one of the least modernized functions in the enterprise. With Levelpath's proprietary Hyperbridge reasoning engine at its core, the platform delivers intelligent automation through true AI-native design, unlocking capabilities that legacy solutions built before 2022 are architecturally challenged to efficiently support.
For decades, procurement has been trapped by systems designed for yesterday's problems. Complex interfaces. Endless workflows. Frustrated users. Levelpath changes everything with the first truly AI-native procurement platform built from the ground up for the modern enterprise.
"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 after raising $44.5 million across Benchmark-led Seed and Redpoint-led Series A rounds, Levelpath has built momentum as the 'next chapter' of procurement modernization, offering a sleek, AI‑native experience that delivers speed, transparency and ROI at scale.
Fueling Rapid Growth and Market Expansion
With Levelpath's AI Agents, procurement teams do not just keep up with the AI wave, they lead it.
Levelpath's AI Agents are ushering in a new era of intelligent procurement with autonomous, strategic AI capabilities embedded directly into the platform. The AI Agents are enriched with supplier-centric context and designed to connect insights across critical processes.
At their core, Levelpath's AI Agents are designed to act autonomously and proactively on behalf of users, solving real procurement challenges such as sourcing event creation, supplier onboarding, and risk assessments to drive exponential productivity. These AI Agents do not simply support rigid and fragile task automation; they deliver smarter workflows, faster deployment, and predictable outcomes from day one. With preconfigured agents available out of the box, teams can immediately benefit from enhanced decision-making and operational efficiency without the need for complex IT support.
Powered by Hyperbridge, Levelpath's AI-native architecture, these AI Agents unify model grounding, context management, and orchestration while ensuring secure, compliant data handling. By identifying the relevant business context, routing queries to the most suitable large language models, and tailoring outputs to specific organizational needs, Levelpath empowers procurement teams to achieve greater efficiency and impact, with fewer resources. This foundation enables organizations to benefit from rapid AI innovation without the need for constant due diligence on the models or integrations themselves.
With the launch of Levelpath's AI Agents, the company is doubling down on its core mission: to modernize one of the most critical and overlooked business functions with technology that is both intelligent and delightful. As enterprises face mounting pressure to streamline procurement AI-native tools like Levelpath Agents are poised to become essential infrastructure.
Levelpath will use the new funding to accelerate product development, scale its go-to-market team and deepen ecosystem partnerships, all in service of meeting growing enterprise demand for AI-native procurement. With strong early traction and strategic integrations like its placement in Coupa's App Marketplace, Levelpath is well-positioned to make delightful, intelligent procurement the new enterprise standard.
"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."
Levelpath is now offering a monthly AI Masterclass webinar series to help leaders scale their impact, streamline operations, and accelerate their careers. Follow along to see how to operationalize AI across your business and power real-world procurement workflows.
To learn more about Levelpath's AI-native procurement platform, visit Levelpath.com.
About Levelpath
Levelpath is the leading AI-native procurement platform transforming how global enterprises manage indirect spend. Built from the ground up for the AI era, our platform unifies procurement operations through intelligent automation, featuring an intuitive stakeholder interface, advanced workflow orchestration, and our proprietary Hyperbridge reasoning engine that delivers real-time intelligence and complete visibility across all procurement activities. Trusted by leading Fortune enterprises worldwide, including Ace Hardware, Amgen, Coupang, Fortrea, GATX, SiriusXM, SSM Health, and Western Union, Levelpath's AI-native architecture enables organizations to collaborate smarter, operate faster, and scale procurement operations that drive measurable business value.
Headquartered in San Francisco, Levelpath is backed by Battery, Benchmark, Redpoint Ventures, 01A, Menlo Ventures, NewView Capital, and World Innovation Lab. Learn more at levelpath.com or connect with us on LinkedIn.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
8 hours ago
- Business Wire
Terra Firma Energy Welcome UK Government Consultation on Hydrogen Blending into Great Britains Gas Transmission Network
LONDON--(BUSINESS WIRE)--At Terra Firma Energy, we welcome the UK Government's consultation into the blending of Hydrogen into Britain's Gas Transmission Network as a timely and positive step forward for both the UK's decarbonisation goals and the future of flexible power generation. All our projects are engineered to be hydrogen-ready from the outset, ensuring long-term operational flexibility and resilience in a rapidly evolving energy landscape. By anticipating changes in fuel supply and regulatory frameworks, we have future-proofed our generation assets to adapt quickly to low-carbon solutions like hydrogen blending. The ability to support hydrogen integration, even at early-stage blend levels, reinforces our commitment to sustainable innovation and positions our portfolio to contribute meaningfully to a net zero grid. Terra Firma Energy welcome UK Government Consultation on Hydrogen Blending into Great Britains Gas Transmission Network. Share The Department for Energy Security and Net Zero (DESNZ) has launched a new consultation exploring the potential for blending low-carbon hydrogen into Great Britain's gas transmission network. Following previous consultations on hydrogen blending into local distribution networks, the government is now seeking views on whether introducing hydrogen at the transmission level - the high-pressure National Transmission System (NTS) - could offer strategic and economic value. A Step Toward Net Zero Hydrogen is seen as a key player in the UK's push to reach net zero emissions by 2050. Blending low-carbon hydrogen with natural gas could offer a transitional path, supporting early-stage hydrogen production while reducing the carbon intensity of the existing gas network. DESNZ is currently evaluating whether to enable blending of up to 2% hydrogen by volume into the NTS. This small percentage could act as an 'off-taker of last resort' for hydrogen producers, providing a backup market when dedicated customers are not available. Balancing Innovation with Risk The consultation outlines both the potential benefits and challenges. While hydrogen blending could support the growth of the hydrogen economy and help manage electricity system constraints, it also raises concerns for industrial users connected to the transmission system. Many of these users rely on stable, high-quality gas supplies, and even a 2% hydrogen blend could affect equipment performance, increase costs, or require infrastructure upgrades. Terra Firma Energy have been proactive in ensuring all our projects have been built utilising hydrogen ready generation sets that can accommodate a 20% blend of hydrogen into the network. Studies cited in the consultation show that most transmission-connected users could technically handle a 2% blend with minimal changes, though feasibility studies and equipment modifications may still be necessary. At higher blends (5% or 20%), the risks and costs escalate significantly. Cross-Border Considerations The UK's ability to blend hydrogen is also influenced by developments in the EU. Under the EU Hydrogen and Decarbonised Gas Market Package, Member States can blend up to 2% hydrogen by volume, but are not required to do so. This creates potential interoperability issues with the UK's gas inter-connectors to Ireland, Belgium, and the Netherlands - especially if hydrogen blends exceed that threshold.
Yahoo
a day ago
- Yahoo
UnitedHealth Group Announces Changes to Leadership Team
July 31, 2025--(BUSINESS WIRE)--UnitedHealth Group (NYSE: UNH) today announced Wayne S. DeVeydt has been appointed its chief financial officer, effective September 2, 2025. John F. Rex, who joined the company in 2012 and has been CFO since 2016, will become strategic advisor to the CEO on the same date. "Wayne DeVeydt combines deep financial acumen and operating experience with the mission-oriented and compassionate approach to health care that is a perfect fit for UnitedHealth Group," said Stephen J. Hemsley, company chairman and chief executive officer. "John Rex has been an exceptional leader, having helped guide our company through substantial change with both strategic vision and strong commitment to our mission," said Hemsley. "I look forward to his continued insights as UnitedHealth Group moves forward." DeVeydt, 55, most recently has been a managing director and operating partner at Bain Capital, working with client leaders on operational improvement and growth acceleration. From 2018-2020, he was chairman and CEO of Surgery Partners, Inc. in Nashville, expanding the operational scale and financial performance of the surgical services firm. He joined Anthem, Inc. (now Elevance) in 2005 and served as its chief financial officer from 2007 to 2016. Prior to joining Anthem, DeVeydt served as a partner with PricewaterhouseCoopers LLP, with a focus on the health care sector. "There is no organization besides UnitedHealth Group that presents the kinds of opportunities to make a difference in health care, from individual patient care to broad system efficiency, so I am eagerly looking forward to joining the team," said DeVeydt. "I've been fortunate to know John Rex for over two decades and am honored to follow a leader of his caliber." Rex, 63, joined UnitedHealth Group as chief financial officer of the company's then newly established Optum business and previously had spent his career focused in health care across multiple roles and sectors. "This pivotal moment for UnitedHealth Group is the right time for a new yet greatly experienced executive like Wayne DeVeydt, and I look forward to supporting him and the entire leadership team while continuing to advise on a range of matters," said Rex. About UnitedHealth Group UnitedHealth Group is a health care and well-being company with a mission to help people live healthier lives and help make the health system work better for everyone through two distinct and complementary businesses. Optum delivers care aided by technology and data, empowering people, partners and providers with the guidance and tools they need to achieve better health. UnitedHealthcare offers a full range of health benefits, enabling affordable coverage, simplifying the health care experience and delivering access to high-quality care. Visit UnitedHealth Group at and follow UnitedHealth Group on LinkedIn. View source version on Contacts Media: uhgmedia@ UnitedHealth Group Media Sign in to access your portfolio
Business Wire
2 days ago
- Business Wire
LINEAGE INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Lineage, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead the Lineage Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)-- Robbins Geller Rudman & Dowd LLP announces that purchasers of Lineage, Inc. (NASDAQ: LINE) common stock in or traceable to the registration statement used in connection with Lineage's July 2024 initial public offering (the 'IPO'), have until September 30, 2025 to seek appointment as lead plaintiff of the Lineage class action lawsuit. Captioned City of St. Clair Shores Police and Fire Retirement System v. Lineage, Inc., No. 25-cv-12383 (E.D. Mich.), the Lineage class action lawsuit charges Lineage and certain of its top executives, directors, IPO underwriters, and IPO sponsor with violations of the Securities Act of 1933. If you suffered substantial losses and wish to serve as lead plaintiff of the Lineage class action lawsuit, please provide your information here: CASE ALLEGATIONS: Lineage is a Maryland REIT focused on temperature-controlled cold-storage facilities. In the July 2024 IPO, Lineage sold over 65 million shares of Lineage common stock to investors at $78 per share, raising more than $5 billion in gross offering proceeds. The Lineage class action lawsuit alleges that the registration statement was false and/or misleading and/or failed to disclose that: (i) Lineage was then experiencing sustained weakening in customer demand, as additional cold-storage supply had come on line, Lineage's customers destocked a glut of excessive inventory built up during the COVID-19 pandemic, and Lineage's customers shifted to maintaining leaner cold-storage inventories on a go-forward basis in response to changed consumer trends; (ii) Lineage had implemented price increases in the lead-up to the IPO that could not be sustained in light of the weakening demand environment facing Lineage; (iii) Lineage was unable to effectively counteract the adverse trends listed above through the use of minimum storage guarantees or as a result of operational efficiencies, technological improvements, or its purported competitive advantages; (iv) as a result, rather than enjoying stable revenue growth, high occupancy rates, and steady rent escalation as represented in the registration statement, Lineage was in fact suffering from stagnant or falling revenue, occupancy rates, and rent prices; and (v) consequently, Lineage's financial results, business operations, and prospects were materially impaired. Since the IPO, the price of Lineage stock has fallen to lows near $40 per share. The price of Lineage stock has remained substantially below the IPO price at the time of the filing of the complaint. The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud. You can view a copy of the complaint by clicking here. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Lineage common stock in or traceable to the registration statement issued in connection with Lineage's IPO to seek appointment as lead plaintiff in the Lineage class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Lineage class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Lineage class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Lineage class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
