Ramp acquires AI customer support platform

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Ramp acquires AI customer support platform

By Dalvinder Kular

27/06/2023

Finance automation platform Ramp has acquired Cohere.io, a customer support platform powered by artificial intelligence (AI), for an undisclosed sum.

Following the takeover, Cohere.io will work on creating projects using AI to automate workflows and analyse data sets produced by Ramp and its customers.

Cohere.io was founded in 2020 and raised over $3.5 million in venture funding from Initialized Capital and other investors.

Ramp said Cohere.io has been using generative AI and large language models since it was founded to resolve around 60 per cent of customer enquires automatically.

Commenting on the news Eric Glyman, chief executive of Ramp, said: "We're excited to welcome the Cohere.io team to Ramp, where they will continue to build differentiated, AI-powered products that make businesses and their people more efficient and effective. We’re committed to investing in high-quality, AI-native talent to deliver transformative solutions for our customers."

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