Ramp acquires Venue for a snappy procurement product revamp!

Ramp, a B2B finance automation platform based in New York, has acquired procurement start-up Venue to enhance its procurement product suite. The acquisition will allow Ramp to offer customised intake forms, flexible approvals, purchase order management, and AI-powered vendor management. Venue’s solution, which provides finance teams with full visibility into employee and business spending, has been integrated with Ramp’s existing suite. This acquisition has prompted an overhaul of Ramp’s procurement function, resulting in the launch of new features exclusively available to Ramp Plus users. These features include a new contract review process, accounting platforms synced with purchase orders, and stakeholder collaboration tools.

Ramp’s CEO, Eric Glyman, believes that these newly launched products will save employees from time-consuming, manual tasks and allow companies to operate more efficiently. Venue, which was founded in 2022 and has raised $1.2 million in financing, will play a leading role in developing and implementing these new features.