The process which begins with venom being forced into an organism by the bite or sting of another organism, and ends with the activation of plasminogen into plasmin in the bitten organism. This process includes cleavage at an internal Arg-Val site to form an N-terminal A-chain and C-terminal B-chain held together by a disulfide bond, and can include further proteolytic cleavage events to remove the preactivation peptide.