ProcureTech
ProcureTech was a London-based procurement technology company offering market intelligence and orchestration capabilities to Fortune 500 enterprises across life sciences, financial services, CPG, and manufacturing. Now part of ORO Labs following a March 2025 acquisition.
- Company typePrivate
- Founded2021
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What ProcureTech does
ProcureTech was a London-based procurement technology company founded in 2021 that developed market intelligence capabilities for enterprise procurement. Its core proposition centered on combining market intelligence with procurement orchestration, helping Fortune 500 enterprises manage decentralized procurement stacks, supplier ecosystems, and compliance workflows. Following an acquisition by ORO Labs announced on 2025-03-18, ProcureTech became part of ORO Labs' platform, with its market intelligence functionality folded into a broader orchestration suite.
The combined product offering is structured as a platform-plus-modules architecture. The core Orchestration Solutions platform connects disparate procurement tools via secure, semantically rich integrations. Modular workflow components include Intake Management (request capture and routing), Supplier Onboarding & Maintenance (supplier lifecycle), and Risk & Compliance (enterprise supply chain monitoring). An Agentic AI feature enables building autonomous AI ecosystems capable of multi-step procurement actions, and the platform is positioned as AI-powered procurement orchestration with generative and process automation capabilities. The company holds SOC 2 Type 2 and ISO 42001 certifications, signaling enterprise-grade security and AI management commitments.
The business operates an enterprise SaaS model with subscription-based recurring revenue, targeting Fortune 500 organizations through a direct field sales motion anchored on a "Request a Demo" call-to-action. Named customers include Bristol Myers Squibb (Life Sciences), Goldman Sachs (Financial Services), and Bayer (Manufacturing/Healthcare, pilot stage). The segmentation approach is vertical-led, with primary focus on Life Sciences and Financial Services and secondary focus on Consumer Packaged Goods and Manufacturing. Pricing is quote-based and not publicly disclosed. The company has 11-50 employees and is led by CEO and founder Lance Younger. No funding rounds are disclosed in available sources, and ProcureTech is no longer operating as an independent entity.
ProcureTech firmographics
Firmographics- Name
- ProcureTech
- Website
- https://procuretech.ai
- Company type
- Private
- Founded year
- 2021
- Operating status
- Acquired
- Headcount range
- 11–50 employees
- Short description
- ProcureTech was a London-based procurement technology company offering market intelligence and orchestration capabilities to Fortune 500 enterprises across life sciences, financial services, CPG, and manufacturing. Now part of ORO Labs following a March 2025 acquisition.
- Ownership category
- akta.pro rank
ProcureTech industry classification
Industry- Product category
- Procurement Orchestration Software
- NAICS
- Software Publishers (513210)
- SIC
- Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Procurement Systems Administration (ERP/P2P Tools Support) (BPAAAJAO)
- akta.pro secondary industries
- Compliance, Risk & Supplier Due Diligence (KYC/ESG/Sanctions) (BPAAAJAK), AI Governance, Risk & Compliance (GRC) Platforms (HDAAAMAA)
Keywords
Where ProcureTech is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Markets served
ProcureTech business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Enterprise Procurement Orchestration Platform: SaaS-based procurement orchestration platform serving Fortune 500 companies. Revenue generated through enterprise licensing and platform subscriptions.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels8 records
ProcureTech product offering
Product offeringCore offering
ProcureTech provides an AI-powered procurement orchestration platform that connects disparate procurement tools and workflows across enterprise environments, unifying intake management, supplier onboarding, risk and compliance processes with market intelligence capabilities. The platform delivers workflow automation, data integration, and decision-support for decentralized procurement teams at large organizations. Following acquisition by ORO Labs in March 2025, the offering is now combined with ORO's orchestration capabilities and Agentic AI features.
Product overview
ProcureTech is now part of ORO Labs following an acquisition. The combined entity offers a unified procurement orchestration platform called Orchestration Solutions, which includes modular workflow components: Intake Management, Supplier Onboarding & Maintenance, and Risk & Compliance. ProcureTech's original Market Intelligence capability has been integrated to complement ORO's orchestration features. The platform also includes Agentic AI for building autonomous AI ecosystems. This represents a platform-plus-modules architecture where the core Orchestration Solutions platform serves as the foundation, with individual workflow modules addressing specific procurement functions (intake, supplier management, compliance) and AI features enabling intelligent automation.
Differentiator
Problem solved
Functional benefit
Products and services
- Orchestration Solutions Core procurement orchestration platform that connects disparate procurement tools and workflows, enabling enterprises to unify their procurement landscape with secure, semantically rich integrations. Targeted at Fortune 500 enterprise procurement organizations.
- Intake Management Workflow solution that manages procurement requests and intake processes, enabling teams to capture, route, and approve purchase requests within the orchestration platform. Designed for enterprise procurement teams.
- Supplier Onboarding & Maintenance Solution for managing the supplier lifecycle including onboarding, verification, and ongoing maintenance of supplier relationships and data. Used by enterprise procurement teams to coordinate supplier ecosystems.
- Risk & Compliance Solution that monitors and manages procurement risk and compliance requirements across the enterprise supply chain. Targeted at organizations with complex regulatory and supplier risk obligations.
- Agentic AI AI capability that enables enterprises to build an Agentic AI ecosystem, allowing AI agents to autonomously handle multi-step procurement tasks with limited human intervention.
- ProcureTech Market Intelligence Market intelligence capability combined with orchestration to deliver deeper insight and intelligence for enterprises, helping procurement teams make better, data-driven decisions across the procurement lifecycle.
Companies that use ProcureTech
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles4 records
ProcureTech technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability4 records
Feature1 record
ProcureTech partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ORO LabsflagshipORO Labs acquired ProcureTech, combining ORO's orchestration capabilities with ProcureTech's market intelligence. This acquisition unifies both companies' strengths to deliver deeper insight, greater intelligence, and more impact for enterprise procurement customers.
Scale indicators1 record
Recent moves4 records
Expansion highlights5 records
ProcureTech competitors and assessment
Company assessmentDirect peers
- ORO Labs: ORO Labs is the acquirer of ProcureTech and operates an AI-powered procurement orchestration platform with the same Idea-to-Pay model, intake management, supplier onboarding, and risk & compliance modules. It is the closest functional peer and effectively the parent product.
- Coupa Software: Coupa offers a broad Business Spend Management (BSM) platform covering procurement, sourcing, invoicing, and supplier management. It is a direct competitor for enterprise procurement orchestration and intake-management use cases.
- Jaggaer: Jaggaer provides a source-to-pay procurement platform with direct sourcing, supplier management, and contract modules. It directly overlaps with ProcureTech's intake, supplier, and risk workflows for mid-market and large enterprises.
- Ivalua: Ivalua offers a unified source-to-pay platform with strong configurability and supplier risk capabilities. It competes head-to-head for Fortune 500 procurement orchestration and supplier lifecycle deals.
- GEP: GEP combines procurement software (SMART by GEP) with managed services for large enterprises. Its procurement platform directly overlaps ProcureTech's intake, sourcing, and supplier management modules.
- Zycus: Zycus provides an AI-driven source-to-pay suite, including intake, supplier management, and risk modules with its Merlin AI. It competes in the same AI-augmented procurement orchestration niche.
Broad incumbents
- SAP Ariba: SAP Ariba is the incumbent procurement cloud within the SAP ecosystem, covering sourcing, supplier management, and contract lifecycle. It is a broad incumbent ProcureTech must integrate with and compete against for orchestration logic.
- Workday: Workday's procurement and supplier contract management modules within its enterprise cloud suite provide an alternative for buyers standardized on Workday HCM/Finance, representing competitive pressure on ProcureTech's enterprise pipeline.
Emerging players
- Suplari: Suplari is an AI-driven spend analytics and procurement intelligence platform. It overlaps with ProcureTech's market intelligence capability and competes for analytics-driven procurement insights budgets.
- LevaData: LevaData offers an AI-powered direct materials sourcing and supplier intelligence platform. It overlaps with ProcureTech's procurement intelligence and supplier risk offerings, particularly in CPG and manufacturing verticals.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
ProcureTech social profiles
Digital presenceProcureTech compliance and trust
Trust signalCompliance2 records
ProcureTech financial estimates
Financial estimateRevenue estimate
Valuation estimate
ProcureTech leadership team
Management profileNumber of profiles
Profiles1 record
ProcureTech funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ProcureTech M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ProcureTech
What does ProcureTech do?
ProcureTech provides an AI-powered procurement orchestration platform that connects disparate procurement tools and workflows across enterprise environments, unifying intake management, supplier onboarding, risk and compliance processes with market intelligence capabilities. The platform delivers workflow automation, data integration, and decision-support for decentralized procurement teams at large organizations. Following acquisition by ORO Labs in March 2025, the offering is now combined with ORO's orchestration capabilities and Agentic AI features.
When was ProcureTech founded?
ProcureTech was founded in 2021. It employs 11 to 50 people.
Where is ProcureTech based?
ProcureTech is headquartered in London, United Kingdom, in the Europe region.
How does ProcureTech make money?
One revenue line is on record: enterprise Procurement Orchestration Platform.
Who are ProcureTech's main competitors?
Direct peers on record are ORO Labs, Coupa Software, Jaggaer, Ivalua, GEP and Zycus. Broad incumbents are SAP Ariba and Workday. Emerging players are Suplari and LevaData.
Does ProcureTech have an API?
No public API is recorded for ProcureTech.
What industry is ProcureTech in?
ProcureTech's product category is Procurement Orchestration Software. Its primary akta.pro industry code is BPAAAJAO, Procurement Systems Administration (ERP/P2P Tools Support), with a secondary code of BPAAAJAK, Compliance, Risk & Supplier Due Diligence (KYC/ESG/Sanctions). Its NAICS code is 513210 and its SIC code is 7372.