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Fintech Ramp acquires another AI-powered startup
Spend management startup Ramp has acquired AI-powered procurement startup Venue, the companies announced today.
Founded in 2022 by TK Kong, Young Kim, and Kevin Chan, Venue’s aim was to “simplify how businesses review, approve, and manage the cost of vendors in use across their company.” The acquisition makes sense considering that last summer, Ramp announced that it was entering the procurement space as it focused more on “complex” enterprises. Plus, it believes that back-end business processes like procurement are “ripe for practical automation and AI implementations.”
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