Oro Labs, a Silicon Valley startup that uses artificial intelligence to automate companies’ procurement processes, has raised $100 million in new venture capital funding.
The fundraise, which is the company’s Series C round, is being led by Goldman Sachs Growth Equity and Brighton Park Capital. Existing investors Norwest Venture Partners, B Capital, XYZ Capital, and Felicis are also participating. As part of the deal, Clare Greenan, a vice president at Goldman Sachs Growth Equity, and Mike Gregoire, partner at Brighton Park Capital, will join Oro’s board of directors.
Oro declined to disclose its valuation following the new fundraise. The new capital raise brings the total amount of money the startup has raised to date to $160 million.
The five-year old startup has built what it calls a “procurement orchestration platform”—a layer of AI-powered software that sits on top of a company’s existing enterprise resource planning and procurement systems. Rather than replacing those legacy investments, Oro acts as an intelligent front door, using AI agents to route requests, check compliance, and automate manual processes.
Oro’s customers include a number of Fortune 500 companies, including Coca-Cola, Pfizer, Novartis, Thermo Fisher Scientific, and Booking.com, among others. The company says it now works with 15 of the top 25 life sciences companies, two of the top four diversified U.S. banks, and five of the top 15 food and drink manufacturers.
