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Chronicles

The story behind the story

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Lio, which uses AI agents to automate enterprise procurement, including document reading and supplier evaluation, raised a $30M Series A led by a16z

Lio's co-founders know firsthand that procurement — the process enterprises use to purchase services from vendors — is often a bottleneck.

TechCrunch Dominic-Madori Davis

Discussion

  • @a16z @a16z on x
    We're excited to lead Lio's Series A. We're entering an agent-first world, where entire workflows get handed off to AI. @Lio_Technology is building a virtual procurement workforce for enterprises. AI has made remarkable progress automating knowledge work. But procurement is a [im…
  • @askvladi Vladimir Keil on x
    Announcing Lio's $30M Series A, led by Andreessen Horowitz! Procurement still operates like an administrative back-office function: rigid software, manual workflows and endless headcount. Enterprises spend over $180 billion annually on procurement talent and roughly $10 billion […