[AI Procurement Agent Company Lio Completes $30 Million Series A Financing, Led by a16z] AI procurement agent startup Lio announced the completion of a $30 million Series A financing round, led by Andreessen Horowitz. Lio builds virtual procurement teams for large enterprises, taking over the entire process from request submission, price inquiries and comparisons, supplier negotiations, supplier onboarding, to order execution within ERP systems, email, and contract systems, all through natural language requests. a16z stated that the current procurement processes of large enterprises globally still heavily rely on emails, PDFs, and manual collaboration, with procurement transaction volumes linearly tied to workforce size. Enterprises spend approximately hundreds of billions of dollars annually on procurement labor. Lio aims to break this linear relationship by automating traditional back-office procurement tasks through scalable AI agents.