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's $14.5 million seed round, and Redpoint, the lead investor in the $30 million Series A round announced in 2023. 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. Levelpath's 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...
learn more
