Ramp reaches $60B valuation as it pushes deeper into AI
Expense management firm Ramp has raised $1.85 billion in a new funding round, bringing its valuation to $60 billion. The company is aggressively expanding its financial operations platform by integrating AI agents and model routing services.
Why it matters
Ramp's massive valuation highlights the continued investor appetite for AI-integrated fintech solutions and the rapid scaling of B2B financial software.
Expense management company Ramp said on Thursday that it had raised $1.85 billion in a new funding round that values it at $60 billion, just four months after raising $750 million at a $44 billion valuation .
The financing was co-led by Dragoneer Investment Group, Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth.
Ramp said its annualized revenue has crossed $2 billion, up from a reported $1.5 billion in June, and that its revenue growth is 25% faster than it was around this time last year. The company claims it now facilitates annualized purchase volume of over $275 billion, up 175% from a year earlier. It also says it has 85,000 customers, up from 70,000 in June, including Visa, Uber, Shopify, Robinhood, Anduril, Notion, Cursor, and Figma.
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