ORO Labs: Driving Procurement Efficiency with $100m Funding

ORO Labs, the AI-native procurement orchestration company, has successfully raised US$100m in Series C funding.

The cash injection will allow the company to grow to scale in order to amplify customers and help them meet increasing procurement pressures.

Procurement teams relying on ORO stand to benefit from increased efficiency and productivity, resulting in enhanced resilience.

Simplifying procurement

ORO Labs is on a mission to deliver seamless user experiences to boost business operations and efficiency. Its AI-native platform allows companies to shorten their cycle times, decrease risk through end-to-end process visibility and remain agile to market changes.

Ultimately, the platform is purpose-built to help procurement teams achieve an effortless transformation process.

Founded in 2020 by Lalitha Rajagopalan, Yuan Tung and Sudhir Bhojwani, ORO was designed to simplify complex business systems, particularly as ongoing global volatility reshaped the market and introduced more intricacies on a daily basis. At the time, procurement processes were fragmented, working across multiple systems, with approvals occurring across emails and spreadsheets, relying on time-consuming manual work.

Now, through intelligent workflows and deep integrations across business systems, ORO ensures first-class procurement efficiency. With its solutions, companies can reduce lead times, prevent non-compliant spend, gain real-time visibility and stay agile with changing laws and regulations.

It is designed with procurement teams in mind, helping employees get the support they need with simple and efficient processes. Over the past year, ORO has experienced 300% revenue growth, driven by rapidly-increasing demand for modernisation across procurement, finance and supply chain functions.

ORO's capabilities

The US$100m funding round is led by Growth Equity at Goldman Sachs Alternatives and Brighton Park Capital, with support from Norwest Venture Partners, B Capital, XYZ Capital and Felicis. It brings ORO's fundraising total to since 2020.

ORO already serves big-name brands including Booking.com, Pfizer, Danone, The Coca Cola Company, Stellantis and Bayer. Now, with this new funding, it can accelerate its efforts and scale customer success. 

As procurement becomes a key contributor to building business resilience, ORO Labs acts as a vital support system to procurement professionals. It can be applied to offer a range of solutions across supplier onboarding, source-to-pay, spend and category intelligence, negotiations, sourcing, supplier intelligence, contracts and risk management.

Moreover, it can be applied across a company's existing systems, rather than replacing legacy software. 

“Demand for procurement orchestration has skyrocketed because of one fundamental truth: procurement teams simply cannot continue to operate like they always have," explains Sudhir Bhojwani, Co-Founder and CEO of Oro Labs.

"The market volatility, disruption and price pressures are too severe. Companies need a layer that brings order and intelligence to the chaos – and that layer is orchestration."

Plans for the future

Armed with fresh funding, ORO Labs plans to accelerate its go-to-market (GTM) efforts, helping with the supply chain and commercialisation of its clients' new products.

Having already successfully reduced the time taken for compliance checks across one global pharmaceutical company, ORO Labs has demonstrated its capabilities when it comes to driving efficiency and productivity across the supply chain, helping global enterprises move faster without sacrificing quality, accuracy or control. 

At a time when decisions need to be made quickly and businesses are constantly adapting to complex compliance needs, ORO's platform builds on a knowledge graph of how each company works in order to meet individual expectations while growing its capabilities and adding value. 

This significant funding will be used to invest more in product innovation so it can help even more customers reach their full operating potential.