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.

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