logo
Intelligence
Tracking
Tools
logo
Intelligence
Tracking
Tools

Ramp Acquires Ai-Powered Customer Support Platform Cohere.Io

Jun 26, 2023•over 2 years ago

Acquiring Company

Ramp

Acquired Company

Cohere.io

New YorkFinancePaymentsSoftware

Description

Ramp, the finance automation platform helping 15,000+ businesses save time and money, today announced the acquisition of Cohere.io, an AI-powered customer support platform. 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 up to 60% of tickets in a reliable and accurate way.

Company Information

Company

Ramp

Location

28 WEST 23RD STREET

New York, New York, United States

About

Ramp is an all-in-one financial operations platform designed to save businesses time and money. Combining corporate cards, expense management, bill payments, accounting automation, and more, Ramp empowers finance teams to do their best work. More than 30,000 companies, from family-owned farms to to space startups, have saved $2B and 20M hours with Ramp since its founding in 2019.

Related People

Sign in to view contact details

Sign in to view contact details

Sign in to view contact details

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed