Enterprise procurement automation startup Lio has raised $30 million in a Series A funding round led by Andreessen Horowitz, with participation from SV Angel, Harry Stebbings, and Y Combinator. The financing brings the company’s total funding to $33 million and will support expansion across the United States while accelerating development of its AI-driven procurement platform.
Founded in 2023 by Vladimir Keil, Lukas Heinzmann, and Till Wagner, Lio develops AI agents designed to automate complex procurement workflows within large enterprises. The platform operates across enterprise systems to analyze documents, evaluate suppliers, conduct compliance checks, negotiate terms, and complete purchasing transactions.
Keil said the company’s technology replaces traditional software workflows by deploying autonomous AI agents that execute procurement processes directly rather than simply assisting human operators.
Lio aims to address inefficiencies in enterprise procurement, where processes such as supplier verification, contract checks, and budget validation are often handled manually. The company said its AI agents are already helping organizations manage billions in enterprise spending while significantly reducing processing time for purchasing operations.
Featured image: Credit: Lio
