Ramp, a NYC-based finance automation platform helping businesses save time and money, acquired Cohere.io, an AI-powered customer support platform.
The amount of the deal was not disclosed.
At Ramp, Cohere.io’s team will lead on projects developing with AI to uncover time and money saving opportunities for customers in creative ways. Initial projects include making workflows automated by accurately completing multi-step processes on behalf of customers, as well as improving Ramp’s ability to analyze vast sets of unstructured and structured data so customers always get the best price on software.
Founded in 2020 by CEO Yunyu Lin, and CTO Rahul Sengottuvelu, Cohere.io has used generative AI and LLMs since 2021 to automatically resolve customer support tickets with accuracy and reliability, attracting over 200 customers and $3.5M in venture capital.
The company has been using generative AI and LLMs since before the advent of ChatGPT to extract companies’ historical customer support data and apply it to similar questions in the future – automatically resolving tickets in an accurate way.
Cohere.io attracted over 200 customers at complex, multi-product organizations, including Ramp, Deel, Loom, and SecureFrame. The company also raised over $3.5m in venture funding from Initialized Capital and other investors.
Founded in 2019, and led by Eric Glyman, CEO, Ramp provides a finance automation platform– from corporate cards and expense management software, to bill payments and accounting integrations– designed to save businesses time and money with every click.
FinSMEs
26/06/2023