Lio, an AI company developing autonomous agents for enterprise procurement, has raised $30 million in a Series A funding round led by Andreessen Horowitz. The round also included participation from SV Angels, Harry Stebbings, and Y Combinator.
The new investment brings Lio’s total funding to $33 million and will support product development and expansion into the United States.
Transforming Procurement With AI Agents
Procurement represents one of the largest spending categories for enterprises, yet many procurement processes still rely heavily on manual workflows and administrative coordination.
Despite billions of dollars spent annually on procurement personnel, software adoption remains relatively limited and many tasks still require manual processing across different systems and approval layers.
The company aims to address this gap by introducing AI agents capable of executing procurement tasks autonomously. Instead of adding another layer of software, the company provides what it describes as a virtual procurement workforce.
These AI agents are designed to handle tasks such as reviewing purchase requests, evaluating supplier quotes, negotiating pricing, onboarding vendors, and completing purchases across multiple enterprise systems.
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Automating Complex Enterprise Workflows
The platform operates through what the company calls Agent Operating Procedures, a framework that allows AI agents to follow the same workflows traditionally handled by procurement teams.
The agents can interact with enterprise resource planning systems, internal communication tools, contract databases, and supplier platforms to complete procurement processes from request to purchase.
By automating operational tasks, the system allows procurement teams to focus more on strategy, supplier relationships, and cost optimization.
Adoption Among Global Enterprises
Since launching in 2023, Lio’s platform has been adopted by several large enterprises and has managed procurement processes involving billions of dollars in spending.
Customers include global organizations such as Munich Re, automotive supplier Brose, and biotechnology company Novozymes, as well as companies across industries including retail, chemicals, logistics, and medical technology.
Organizations using the platform report significant reductions in manual workload and faster execution of procurement processes.
Growing Demand For Autonomous Enterprise Systems
The investment reflects growing interest in enterprise software that moves beyond productivity tools toward fully autonomous operational systems.
With procurement operations traditionally requiring large teams and complex workflows, AI-driven automation has the potential to reshape how companies manage purchasing and supplier relationships.
About Lio
Lio develops AI agents designed to automate procurement operations for large enterprises. The platform enables organizations to manage purchasing workflows through autonomous agents that research suppliers, negotiate terms, coordinate approvals, and execute transactions across enterprise systems.
