Company Research Report: ORO Labs

Company Overview

Name and Mission

Name: ORO Labs

Mission: ORO is on a mission to use over 40 years of collective procurement tech experience to make procurement fast, better for all users and groups. The company strives to achieve compliance and have a direct impact on businesses through agility and speed in procurement and supply chain.

Founding Information

Founded: 2020

Founders: Information not available

Key People

CEO, Co-Founder: Sudhir Bhojwani

Operations/Strategy, Co-Founder: Lalitha Rajagopalan

CTO, Co-Founder: Yuan Tung

CMO: Emily Rakowski

VP of Sales: Matt Hugo

Chief Architect: Anwar Nadaf

Head of Customer Success: Jenn Sadr

Business Partner, Europe: Graham Moore

VP of Strategy: Shachi Rai Gupta

Headquarters

Location: Palo Alto, California

Number of Employees

Size: 51-200 employees

Revenue

Revenue: No information available

Company Focus

Known For: ORO Labs is recognized for its GenAI procurement orchestration platform that coordinates people, processes, and systems to achieve a seamless procurement experience.

Products

Procurement Orchestration Platform

Demand-to-Pay

Description: A universal front door for all procurement requests, ranging from requisitions to invoice processing. It uses an intuitive AI-powered experience to guide employees through the right channel.

Key Features:

Effortless procurement experiences

Reduction in demand-to-pay cycle times by 40%

Elimination of manual processes

Compliance and agility

Supplier Management

Description: This product reduces onboarding time, scales due diligence, and achieves 360-degree visibility across all supplier activities.

Key Features:

Intelligent workflows that match PO spend to contract amounts

Visibility to stakeholders

Automation to prevent missed renewals

Risk Orchestration

Description: An AI-powered platform for fraud checking and identity validation, ensuring timely and comprehensive risk management.

Key Features:

Fraud prevention

Risk scores from multiple data sources

Adaptability to company-specific conditions

Recent Developments

Recent Developments in the Company

Series B Funding: Raised $34 Million in Series B funding to humanize procurement.

Awards:

SDCE Women in Supply Chain award for co-founder Lalitha Rajagopalan

Recognized as a Future 5 start-up by Spend Matters

Won DPW Demo 2023 Startup Competition

New Products Launched

No specific product launches mentioned

New Features Added

No specific new features mentioned

New Partnerships

SAP Ariba: ORO empowers SAP Ariba with fast onboarding, 360 process visibility, and intuitive user experiences.

Additional Information

Recognition:

ISO 42001 Certification for AI Systems Management

Mentioned as a Sample Vendor in the Gartner Hype Cycle for Procurement and Sourcing Solutions

Conclusion

ORO Labs continues to innovate and streamline procurement processes through its AI-powered orchestration platform, aiming to mitigate risks, enhance compliance, and foster better procurement experiences. The company has shown significant growth and recognition within the procurement tech landscape, focusing on expanding its capabilities and maintaining high standards of security and efficiency.