Lio raises $30M from Andreessen Horowitz and others to automate enterprise procurement

Lio, a startup founded in 2023 by Vladimir Keil, Lukas Heinzman, and Till Wagner, announced a $30 million Series A funding round led by Andreessen Horowitz, with participation from SV Angels, Harry Stebbings, and Y Combinator. The company addresses the notoriously manual and fragmented enterprise procurement process by deploying AI agents—software that can execute tasks autonomously—to handle everything from contract review and compliance checks to supplier negotiation and transaction completion. Unlike traditional eProcurement software from vendors like SAP Ariba and Oracle, which are built to assist human workers, Lio's platform is designed for AI agents to execute the workflows themselves, turning a process that typically requires navigating multiple enterprise systems into an automated operation.

Lio's agentic AI platform operates across existing enterprise systems, reading documents, evaluating suppliers, and managing transactions. CEO Vladimir Keil claims the technology can reduce processes that traditionally took weeks down to minutes, and in one case study, a global manufacturer automated 75% of its previously outsourced procurement operations within six months. The fresh capital will be used to expand Lio's U.S. presence and enhance its AI agents' capabilities. This funding signals strong investor belief in agentic AI's potential to fundamentally reshape enterprise software categories by replacing human-led, assisted processes with fully automated, AI-executed workflows.