Ramp Raises $300 Million at a $32 Billion Valuation

Ramp is a financial operations platform that combines corporate charge cards, expense management, bill payments, and procurement into one unified, AI-powered system for businesses. The core mission of the company is to save customers time and money by automating and optimizing all spending workflows, aiming to eliminate manual finance tasks and bureaucratic bloat.

Ramp has raised a $300 million primary financing round and an employee tender offer, bringing the company's valuation to $32 billion. The round was led by Lightspeed Venture Partners, with participation from 1789 Capital, Bessemer Venture Partners, Robinhood Ventures, Alpha Wave Global, Epicenter Capital, and Coral Capital, with continued support from Founders Fund, D1 Capital Partners, Coatue, GIC, Avenir Growth, Thrive Capital, Sutter Hill Ventures, T. Rowe Price, Khosla Ventures, ICONIQ, and others.

Ramp, headquartered in New York, New York, United States, was founded in 2019 by Eric Glyman, Gene Lee, and Karim Atiyeh. In 2021, the company joined the unicorn club. "Our goal is to make every customer more profitable," said Eric Glyman, co-founder and CEO of Ramp. "On average, companies that switch to Ramp spend 5% less and grow 12% faster – results that outpace nearly every benchmark. The most disciplined and fastest-growing teams choose Ramp because it helps them scale more efficiently. We are working hard to bring that advantage to every business."