Ramp
Manage company spending, payments and accounting in one workspace.
Ramp Funding History
Ramp provides corporate cards and software for expenses, payments, procurement and accounting. Its finance platform also includes AI agents that work within those tools.
Company Overview
Ramp
Founded 2019 · New York, New York, US
Official WebsiteRamp Funding Timeline
Primary Financing Round (Unlabeled)
US$1.85 billion
Alongside the primary financing, Ramp reported more than $2 billion in annualized revenue and positive cash flow.
Led by Dragoneer Investment Group, Thrive Capital, Founders Fund, Sands Capital, Avenir. Participation included 8VC, General Catalyst, Khosla Ventures, Lightspeed Venture Partners, FirstMark, Greenoaks Capital, Fidelity Investments, T. Rowe Price, D1 Capital, ICONIQ, GIC, Alpha Wave, Ontario Teachers' Pension Plan, Coatue, D.E. Shaw Ventures, Definition Capital, Glade Brook Capital, Soma Capital.
Source · prnewswire.com ↗Series F
US$750 million · $44B valuation
The financing followed Ramp’s expansion into managing AI token spending and serving accounting firms.
Led by ICONIQ, GIC, Ontario Teachers' Pension Plan.
Source · prnewswire.com ↗Primary Financing + Employee Tender
US$300M primary (+tender) · $32B valuation
Ramp announced an employee tender offer alongside the primary financing without specifying the tender size.
Led by Lightspeed Venture Partners.
Source · ramp.com ↗Series E-2
US$500 million · $22.5B valuation
Ramp said it would use the financing to build agents that automate work across corporate finance teams.
Led by ICONIQ. Participation included Founders Fund, D1 Capital, GIC, Coatue, Avenir, Thrive Capital, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Altimeter Capital, Definition Capital, 137 Ventures, General Catalyst, Lightspeed Venture Partners, T. Rowe Price, GV, Emerson Collective.
Source · prnewswire.com ↗Series E
US$200 million · $16B valuation
By the Series E, Ramp had added bill payments, procurement, travel booking and treasury to its corporate cards and expense-management tools.
Led by Founders Fund.
Source · prnewswire.com ↗Secondary Tender
US$150 million tender
Employees and early investors sold shares in the transaction.
Participation included Khosla Ventures, Thrive Capital, General Catalyst.
Source · ramp.com ↗Series D-2
US$150 million · $7.65B valuation
Sequoia, Greylock and 8VC joined as new investors as Ramp expanded beyond its original corporate card.
Led by Khosla Ventures, Founders Fund. Participation included Sequoia Capital, Greylock, 8VC, Thrive Capital, General Catalyst, Sands Capital, D1 Capital, Lux Capital, ICONIQ Growth, Definition Capital.
Source · ramp.com ↗Series D
US$300 million · $5.8B valuation
Ramp raised the capital after expanding into procurement, travel, accounts payable and working capital.
Led by Thrive Capital, Sands Capital.
Source · ramp.com ↗Series C-2 (Equity + Debt)
US$200M equity + US$550M debt · $8.1B valuation
Ramp announced an equity investment and a debt facility together. It planned to build on its travel product and tools for automating finance operations.
Led by Founders Fund. Participation included D1 Capital, Thrive Capital, Redpoint, Coatue, ICONIQ, Stripe, General Catalyst, Goldman Sachs.
Source · ramp.com ↗Series C
US$300 million · $3.9B valuation
Ramp announced the acquisition of negotiation-as-a-service provider Buyer alongside the round, as it expanded its finance automation platform.
Led by Founders Fund. Participation included Stripe.
Source · ramp.com ↗Series B
US$115 million · $1.6B valuation
Ramp said transaction volume had grown roughly fivefold in six months and was nearing $1 billion on an annualized basis.
Led by Stripe, D1 Capital. Participation included Coatue.
Source · ramp.com ↗Follow-On (Trackers: Series B-1)
US$30 million
TechCrunch named D1 Capital and Coatue in the financing and reported that Ramp was adding reimbursement and vendor-management tools.
Led by D1 Capital, Coatue. Participation included Founders Fund.
Source · techcrunch.com ↗Funding Round
US$25,000,000
Ramp introduced its corporate card in February 2020. Fortune reported $25 million at the time, while TechCrunch later identified a separate $15 million financing around February.
Participation included Founders Fund, BoxGroup, Coatue, Conversion Capital.
Source · fortune.com ↗Funding Round
US$7,000,000
Early reporting identified Ramp’s co-founders Eric Glyman and Karim Atiyeh as the team behind Paribus, which Capital One had acquired.
Participation included Keith Rabois, Adam Rothenberg, Coatue.
Source · techcrunch.com ↗
Ramp Founding Team
Eric Glyman and Karim Atiyeh, Ramp’s founding CEO and CTO, built Paribus together before starting Ramp. Gene Lee, who also worked at Paribus, joined them as a co-founder.
Ramp Products
Ramp Company Development
How the Card Became Part of a Finance System
Ramp expanded the work around the corporate card into bill payment, purchasing and accounting. Adding those workflows gives its automation access to the records and approvals a finance team needs before and after a payment.
Ramp Competitive Landscape
The Work Around the Payment
A standalone card program ends much of its work at authorization and reconciliation. Ramp also competes for purchasing and bill-pay workflows, where an approver may need to review a vendor or invoice well before money moves.
