ORO Labs Acquires Procuretech To Accelerate AI-Powered Procurement Orchestration

As fragmented tech stacks continue to hold back procurement teams, ORO invests to drive global growth, strengthen industry partnerships, and scale orchestration adoption

SAN FRANCISCO & LONDON--(BUSINESS WIRE)--ORO Labs, the market’s leading enterprise-grade intake management and procurement orchestration platform, has acquired ProcureTech, a digital accelerator focused on advancing the future of procurement. The strategic acquisition will propel ORO’s global growth and strengthen its relationships with consulting and integration partners, unlocking new opportunities for co-innovation and procurement value creation.

Enterprises have long struggled with fragmented tech stacks and complex procurement processes that hinder digital transformation, frustrate users and diminish ROI. This has created immense demand for ORO’s GenAI procurement orchestration solution, which solves these challenges by seamlessly connecting disparate technologies, processes and data into a single, human-centric ecosystem.

“This acquisition marks a defining moment in procurement digitization. The market is flooded with AI and tech innovation, yet enterprises continue to leave significant value on the table,” said Sudhir Bhojwani, CEO and co-founder of ORO Labs. “Orchestration has emerged as the answer to procurement’s long-standing challenges, enabling teams to finally break free from the inefficiencies that have held them back for years. Having seen what’s possible, CPOs are moving fast to explore new use cases and create a future state with AI-led orchestration at the core. The ProcureTech team - along with their deep network of partners and integrators - will help us accelerate this shift, and get problem-solving orchestration into the hands of more CPOs, faster.”

ORO and ProcureTech have a deep history of co-innovation, including four-plus years of working together to help large enterprises - including GSK, Liberty Blume and Roche - transform procurement operations with orchestration and AI technology. As part of this acquisition, ProcureTech’s team of 20 procurement experts will join ORO, strengthening the company’s EMEA operations. The ProcureTech team will also activate their extensive tech, consultant and integrator partner network, creating new opportunities for the industry’s smartest minds to collaborate faster and wider on new use cases for orchestration.

“Orchestration is the new digital foundation for procurement, and ORO is the number one solution for enterprises globally,” said Lance Younger, CEO of ProcureTech, who has been named ORO’s new Executive Vice President, EMEA and Global Alliances. “The ProcureTech team joining ORO is a generational opportunity to shape the future of procurement. Together, we’ll work hand-in-hand with the world’s largest and most innovative enterprises and partners to solve problems and transform procurement with user-centric and human-first design thinking.”

Over the last five years, ProcureTech has been on a mission to supercharge procurement digitally, working with many of the Global 2000. Adding ProcureTech’s team of procurement thought leaders, tech innovators and industry practitioners deepens ORO’s already rich talent base, procurement heritage and industry experience, further solidifying its position as the leading enterprise procurement orchestration platform.

For more information, visit orolabs.ai.

About ORO Labs

ORO Labs is a procurement orchestration company on a mission to humanize the procurement experience by coordinating teams, systems, and processes so employees get what they need without frustration. ORO’s GenAI-powered no-code platform is purpose-built to deliver effortless user experiences that enable businesses to reduce cycle times, decrease risk through end-to-end process visibility, and increase agility in response to change. ORO is trusted by Fortune 500 companies and fast-growing global organizations to automate processes, improve cross-team collaboration, and scale procurement operations. To learn more, visit orolabs.ai.

About ProcureTech

ProcureTech accelerates and amplifies the digital future of procurement, helping enterprises, entrepreneurs and high-growth organizations solve pressing social, procurement, economic and supply chain challenges. Its proprietary platform of digital procurement solutions, intelligence, approaches and experts unites and energizes the entire procurement ecosystem, maximizing enterprise value. To learn more, visit procuretech.ai

Contacts

Corporate Ink for ORO Labs
OroLabs@corporateink.com
617-969-9192