Ramp, a company providing diverse business expense and payout management solutions, acquired Venue, a procurement solutions provider that helps enterprises review, approve, and manage vendors across the company (primarily for large organizations).

Ramp plans to leverage Venue’s solutions to improve employee purchase request, approval, and payment processes through customized intake forms, flexible approval processes, purchase order management, and AI-powered vendor management.

Ramp reportedly processes over USD 10 billion in accounts payable volumes annually.

Analyst QuickTake: Ramp has used inorganic growth means through acquisitions in the past. Last June, the company acquired Cohere to improve AI-based automation to help customers further automate payment and expense workflows and receive better deals on software.