Munich’s Elevatry has closed a €3M pre-Seed round to take on one of procurement’s duller chores: turning requests into purchase orders.
Bayern Kapital, management consultancy H&Z and a group of business angels including Jan Henner-Theissen, Martin Berr-Sorokin and Mike joined. The cash goes into the platform, headcount and a push into Europe before a North American attempt.
Procurement software is crowded at the top and empty at the bottom. Large employers run SAP Ariba or Coupa and hire consultants to keep them honest. Mid-sized firms often rely on spreadsheets, shared inboxes and the memory of whoever has worked there longest.
What the startup actually automates
Elevatry’s platform handles strategic sourcing tasks that rarely fit off-the-shelf tools: categorising spend, drafting supplier requests, comparing bids and producing the documentation that auditors expect to see. That paper trail matters. Public buyers and regulated industries face rules on competitive bidding, and a shortcut that cannot prove compliance is worthless.
Its investors reflect the local market. Bayern Kapital is a state-backed fund that co-invests alongside private capital, and H&Z is a consultancy that earns money from the processes Elevatry hopes to compress. Their shared bet is that buyers want the audit trail preserved, not removed.
Why a consultancy is on the cap table
Having a services partner as an early investor is a common European pattern, and a pragmatic one: consultancies already sit inside procurement departments and can introduce software that makes their own engagements shorter. The tension is obvious, since automating advisory work undermines the billable hour.
Competition comes from all sides, from enterprise suites adding AI assistants to boutique consultancies selling the same outcome as a service.
