With their recent $55 million Series B raise, Levelpath, a newcomer to the construction procurement software scene, has made quite a splash. This amazing round was led by Battery Ventures. Scout RFP’s co-founders Stan Garber and Alex Yakubovich are known for doing great things so it’s exciting to see them at the helm of recently launched Levelpath. What’s their mission? To change the way organizations think about and approach procurement.
Launching with a mobile-first and UX friendly platform, Levelpath has artificial intelligence capabilities baked in from the ground up. This strategic timing coincided with the debut of ChatGPT, allowing Levelpath to leverage advancements in AI to enhance user experience. Meet the team Our founders have known each other since their high-school days in northeast Ohio. Through more than 20 years, they have worked side-by-side, demonstrating their remarkable professional chemistry.
As of 2023, the procurement software market is valued at over $7.3 billion per year. Levelpath has some serious ambition, aiming to compete even with established incumbents such as Zip, valued at $2.2 billion, and Oro Labs, backed by Felicis. They’re not satisfied with simply competing. Our friends at Levelpath are hell bent on making this their fourx revenue year!
This show of confidence by Battery Ventures’ investment is a direct reflection of the startup’s potential to continue shaking up the procurement landscape. Neeraj Agrawal, a major investor at Battery Ventures, underscored how foundational Levelpath’s approach is to their mission.
“It makes the cash register ring because of these savings.” – Neeraj Agrawal
Levelpath’s secret sauce Their true differentiating feature is their commitment to giving procurement software users a better experience. The founders hope for a day when their customers love the platform instead of just learning to live with it. With a user-centric approach and a commitment to using next-generation technology, Levelpath aims to transform the procurement experience for companies.
“They have such a strong reputation for delivering product, being good people to work with, and doing what they say they’re going to do.” – Neeraj Agrawal
Levelpath has a long, exciting, and ambitious road ahead. Engaging user experience Its founders are passionately dedicated to maximizing user engagement with procurement software. With deep support and a new concept, Levelpath could prove to be a strong dark horse in a hot market.
As Levelpath embarks on this ambitious journey, its founders remain dedicated to the mission of enhancing user engagement in procurement software. With substantial backing and an innovative approach, Levelpath positions itself as a significant contender in a competitive market.
