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.
