$60M Raised to Humanize the Procurement Workflow for Better Outcomes

Welcome to The SaaS CFO Podcast! In this episode, our host Ben sits down with Sudhir Bhojwani, co-founder and CEO of Oro Labs, a procurement software company. Sudhir talks about his background in software engineering, previous entrepreneurial endeavors, and the founding of Oro Labs.   He shares insights into the challenges and nuances of the procurement space and explains the company's mission to "humanize the procurement experience." Sudhir also delves into Oro Labs' pricing structure, go-to-market strategies, fundraising experiences, and the future direction of the company.   Join us as we explore the world of procurement software and entrepreneurial growth with Sudhir Bhojwani.  Show Notes:  00:00 Ariba is top procurement software. Challenges in business-user friction in procurement. Complex process due to non-commoditized goods.  05:12 Startup company focusing on life sciences, pharmaceuticals, financial services, manufacturing, and software.  07:35 Consulting work involves IP sharing and goes through multiple steps, guided by a tool for maximum outcome and speed.  10:58 Focus on large enterprise and mid-market, using account-based marketing and partner strategy.  15:16 Series A to B transition: Metrics or major company signings guide valuation strategy. Early stage metrics are complex.  16:36 Sticking with philosophy, fortunate in procurement software market.  19:42 Belief in humanized procurement experience, using GPT for problem solving, prioritizing user experience.  Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/oro-labs-secures-34-million-in-series-b  Sudhir Bhojwani’s LinkedIn: https://www.linkedin.com/in/sudhir-bhojwani-43b342/  Orolabs’ LinkedIn: https://www.linkedin.com/company/procurewithoro/  Orolabs’ Website: https://www.orolabs.ai/  To know more about Ben check out the links below: Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray