Venue, founded in 2022, built an AI-powered platform to simplify how businesses review, approve, and manage vendor costs across their organizations. Its product focused on vendor review and approval workflows and vendor cost management, aiming to automate and streamline procurement-related back-end processes. Venue raised $1.2 million from investors including Sequoia Capital, Exponent Founders Capital and Basecase Capital. Ramp acquired Venue in August 2023 (the acquisition was announced in January 2024) as Ramp expanded into procurement for more complex enterprises. Ramp intends to grow the procurement segment and provide simple software to transform slow, clunky processes into efficient, organized workflows that put money movement at the center of decision-making. Ramp's platform already spans spend management, accounts payable, vendor management, price intelligence and procure-to-pay, and Ramp says it can manage over $10 billion in annual accounts payable spend.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2024