Lio Raises $30M Series A to Expand AI Procurement Platform

Mar 6, 2026
Lio has raised $30 million in Series A funding led by Andreessen Horowitz to expand its AI-driven enterprise procurement platform across the U.S. and accelerate product development.

New York-based Lio has raised $30 million in Series A funding led by Andreessen Horowitz (a16z), with participation from SV Angels, Harry Stebbings, and Y Combinator, announced in a press release. The round brings Lio’s total funding to $33 million and will support its product development and expansion across the U.S.

Lio, formerly known as askLio, builds an agentic AI platform designed to automate enterprise procurement. Its system uses Agent Operating Procedures (AOPs) that allow AI agents to autonomously manage complex workflows such as processing procurement requests, analyzing supplier quotes, and negotiating purchases.

Since launching in 2023, Lio’s AI agents have handled billions in enterprise spend for Global 2000 and Fortune 500 companies. The company reports that customers have seen reduced manual work, faster procurement cycles, and measurable cost savings.

We hope you enjoyed this article

Consider subscribing to one of our newsletters like Enterprise AI Brief, AI Funding Brief or Daily AI Brief.

Also, consider following us on social media:

Enterprise AI AI Funding News AI Brief AI Brief (X)
Free newsletter

AI Funding Brief

AI Token Webinar

Industry analysis

2025 Global Business Services Agenda: Gen AI Takes Center Stage

The Hackett Group

This industry analysis by The Hackett Group explores the transformative impact of generative artificial intelligence (Gen AI) on global business services (GBS) in 2025. The study highlights the shift from exploration to acceleration of Gen AI initiatives, with 89% of executives advancing these projects to improve customer satisfaction, innovate products, and reduce costs. The report also discusses the challenges and strategies for successful Gen AI adoption, emphasizing the need for a technology-enabled operating model and the importance of reskilling the workforce.

Read more

You may also like

Free, six days a week

Daily AI Brief: the AI news that matters, in your inbox.