Two artificial intelligence startups announced funding rounds this week to develop enterprise automation platforms targeting different business functions.

Pillar, a financial risk management platform, raised $20 million in seed funding led by Andreessen Horowitz (a16z). The company aims to provide institutional-grade hedging tools to small and medium-sized enterprises. According to the company, their goal is to make hedging as accessible as standard business software like payments or accounting platforms.

Separately, Traza announced the completion of a $2.1 million pre-seed round led by Base10 Partners to develop AI agents for procurement automation. The New York-based startup received additional investment from Kfund, a16z scouts, Clara Ventures, Masia Ventures, and angel investors including Pepe Agell, who previously scaled Chartboost before its acquisition by Zynga.

Traza's platform deploys AI agents to automate procurement workflows including vendor outreach, request-for-quote generation, order tracking, supplier communications, and invoice processing. The company targets manufacturers and construction companies, citing research showing organizations lose an average of 11% of total contract value after agreements are signed due to operational inefficiencies.

The startup was co-founded by three Spanish entrepreneurs—Silvestre Jara Montes, Santiago Martínez Bragado, and Sergio Ayala Miñano—who came to the United States through the Exponential Fellowship program. Traza claims early deployments have achieved a 70% reduction in human hours spent on procurement tasks and procurement cycles running three times faster than manual processes.

Both companies enter competitive markets with established players. Traza competes against procurement software providers including SAP Ariba, Coupa, and newer entrants like Zip and Fairmarkit. The global procurement software market exceeds $8 billion and grows at approximately 10% annually, according to industry data.