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Pie Raises $19.5 Million Series A to Expand AI-Powered Growth Platform for Small Businesses
Pie, a New York‑based startup that offers advertising and customer‑acquisition tools powered by artificial intelligence, announced on June 30, 2026 that it has closed a $19.5 million Series A round. The funding brings the company’s total capital to $23.7 million.
The round was led by Lightspeed Venture Partners and included corporate investors Capital One Ventures and Wex Venture Capital, as well as SciFi VC, F‑Prime, Commerce Ventures and existing backers. The investment follows Pie’s emergence from stealth mode earlier in the year.
Founded by former Square and Toast executives Syed Ali and Akhil Mantripragada, Pie’s platform helps small businesses appear in AI‑driven search results on sites such as Google Maps, Yelp and Nextdoor. The system also manages customer enquiries and converts them into sales. According to the company, its first product launched in late 2025 has generated more than 100,000 phone calls for its customers and serves thousands of businesses across a range of verticals, including automotive repair, beauty, fitness and pet care.
Pie says the new capital will be used to broaden its AI product portfolio, scale distribution through software‑platform partnerships, and grow its team. The company also plans to expand its embedded distribution strategy, which involves integrating its tools into vertical software providers.
The funding round reflects a broader trend of investor interest in AI solutions that target small and medium‑sized businesses. Rather than competing directly with enterprise‑grade vendors, startups in this space are positioning AI as a lower‑cost alternative to traditional agencies and fragmented software stacks.
Pie’s founders have described the company’s vision as helping merchants attract customers as local discovery evolves and AI becomes pervasive. The platform’s focus on AI‑driven search and customer‑engagement tools is intended to replace or augment traditional search listings with conversational assistants.
The company reports that its customers typically see year‑on‑year sales growth of 15 % to 20 %, although those figures have not been independently verified.
Lightspeed Venture Partners, which led the round, is a well‑known early‑stage investor in technology companies. Capital One Ventures is the corporate venture‑capital arm of the banking group Capital One, and Wex Venture Capital focuses on companies that innovate in mobility, energy and related sectors.
Pie’s emergence from stealth and its rapid accumulation of capital underscore the growing appetite for AI tools that can be deployed quickly by small businesses. The company’s focus on local discovery and AI‑powered customer acquisition aligns with broader industry moves toward conversational AI and automated marketing.
As of the announcement, Pie has not disclosed plans for a public offering or an acquisition. The company’s next steps will likely involve scaling its platform, expanding its partner network, and refining its AI capabilities to support a larger customer base.
The Series A round positions Pie to compete with other AI‑based marketing platforms that target small businesses, while also providing a potential alternative to traditional local‑search advertising models.
In summary, Pie’s $19.5 million Series A brings the startup’s total funding to $23.7 million, with capital from Lightspeed Venture Partners, Capital One Ventures, Wex Venture Capital and other investors. The funds will support product expansion, partnership growth and team building as the company seeks to deliver AI‑driven marketing and customer‑acquisition solutions to small businesses across the United States.
The round was led by Lightspeed Venture Partners and included corporate investors Capital One Ventures and Wex Venture Capital, as well as SciFi VC, F‑Prime, Commerce Ventures and existing backers. The investment follows Pie’s emergence from stealth mode earlier in the year.
Founded by former Square and Toast executives Syed Ali and Akhil Mantripragada, Pie’s platform helps small businesses appear in AI‑driven search results on sites such as Google Maps, Yelp and Nextdoor. The system also manages customer enquiries and converts them into sales. According to the company, its first product launched in late 2025 has generated more than 100,000 phone calls for its customers and serves thousands of businesses across a range of verticals, including automotive repair, beauty, fitness and pet care.
Pie says the new capital will be used to broaden its AI product portfolio, scale distribution through software‑platform partnerships, and grow its team. The company also plans to expand its embedded distribution strategy, which involves integrating its tools into vertical software providers.
The funding round reflects a broader trend of investor interest in AI solutions that target small and medium‑sized businesses. Rather than competing directly with enterprise‑grade vendors, startups in this space are positioning AI as a lower‑cost alternative to traditional agencies and fragmented software stacks.
Pie’s founders have described the company’s vision as helping merchants attract customers as local discovery evolves and AI becomes pervasive. The platform’s focus on AI‑driven search and customer‑engagement tools is intended to replace or augment traditional search listings with conversational assistants.
The company reports that its customers typically see year‑on‑year sales growth of 15 % to 20 %, although those figures have not been independently verified.
Lightspeed Venture Partners, which led the round, is a well‑known early‑stage investor in technology companies. Capital One Ventures is the corporate venture‑capital arm of the banking group Capital One, and Wex Venture Capital focuses on companies that innovate in mobility, energy and related sectors.
Pie’s emergence from stealth and its rapid accumulation of capital underscore the growing appetite for AI tools that can be deployed quickly by small businesses. The company’s focus on local discovery and AI‑powered customer acquisition aligns with broader industry moves toward conversational AI and automated marketing.
As of the announcement, Pie has not disclosed plans for a public offering or an acquisition. The company’s next steps will likely involve scaling its platform, expanding its partner network, and refining its AI capabilities to support a larger customer base.
The Series A round positions Pie to compete with other AI‑based marketing platforms that target small businesses, while also providing a potential alternative to traditional local‑search advertising models.
In summary, Pie’s $19.5 million Series A brings the startup’s total funding to $23.7 million, with capital from Lightspeed Venture Partners, Capital One Ventures, Wex Venture Capital and other investors. The funds will support product expansion, partnership growth and team building as the company seeks to deliver AI‑driven marketing and customer‑acquisition solutions to small businesses across the United States.
