ORO Labs Acquires ProcureTech

ORO Labs 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.

“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,” says 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.”

“Orchestration is the new digital foundation for procurement, and ORO is the number one solution for enterprises globally,” says Lance Younger, CEO of ProcureTech. “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.”

Key takeaways:

• Younger was named ORO’s new EVP, EMEA and global alliances.
• ORO and ProcureTech have a deep history of co-innovation, including four-plus years of working together to help large enterprises transform procurement operations with orchestration and AI technology.
• As part of this acquisition, ProcureTech’s team of 20 procurement experts will join ORO.