New York, October 15th / PRNewswire / -- Ramp Today, the company announced the completion of a round of major financing totaling $1.85 billion, led by Dragoneer Investment Group. The company's valuation has reached $60 billion. Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth also co-led this round of financing. Other participating investors include Capital International, Fidelity Management & Research Company, T., Rowe Price, D1 Capital Partners, Greenoaks, token issuer NIQ, GIC, 8VC, 1789 Capital, Alpha Wave Global, Ontario Teachers, Pension Plan, Coatue, D.E, Shaw, Definition Capital, FirstMark, General Catalyst, Generation Investment Management, Glade Brook Capital Partners, Khosla Ventures, Lightspeed Venture Partners, Pinegrove Opportunity Partners, Soma Capital, and Stripes.
Ramp has currently achieved annual revenue of over $2 billion and maintains a positive cash flow. The company stated that its revenue growth rate is currently 25% faster than the same period last year. In addition, the corporate business of Ramp continues to grow, with the number of customers generating an annual income of over $100,000 increasing by 113% year-on-year.
Christian Jensen, a partner of Dragoneer, stated: “Ramp is the kind of company we are willing to support. It is already a market leader with a deep and enduring moat, and its growth is still very rapid. In just a few years, Ramp has developed into a broader financial operations platform, and AI has been deeply integrated into the company’s methods of construction and operation. We believe that Ramp is on its way to becoming one of the defining companies of this era.”
Sands Capital, the managing partner, said: "We made our first investment in Ramp in 2023, at a time when it was clearly the best choice for the finance team. With the development of AI, Ramp's platform has become the obvious choice for automating entire finance offices. After three rounds of financing and more, we believe this opportunity is even more attractive than when we first invested, and we are delighted to further deepen our collaboration with Eric, Karim and their team."
Customers get more value for every dollar from Ramp.
Over 85,000 companies use Ramp to manage an annual procurement volume of over $275 billion, representing a year-on-year increase of 175%. These customers save more than $1 billion each month in total. Currently, the median customer can save 7.5%, which is higher than the 5% from a year ago, and the manual work required to complete transactions has been reduced by 22%. This means that for every dollar spent, there is a 50% greater savings compared to a year ago, providing customers with more funds to invest in their own businesses.
As Ramp saves customers more time and money, customers also entrust more of their financial operations to Ramp – from paying bills and settling accounts to collecting income. Today, most customers use two or more Ramp products, and a quarter of the customers use three or more. As the proportion of AI in corporate expenditures continues to increase, the opportunities for Ramp to provide additional value are also constantly expanding.
Uber, the global travel and expenses manager, Justin Reyhl said: "At a scale like Uber, even small inefficiencies can add up over time. We want our employees to focus on reimagining how the world can operate better, and we also want every dollar we spend to contribute to business growth. Ramp helps us expand travel and expense management without adding additional layers of bureaucracy, while keeping expenses under control."
Ramp Helps enterprises obtain higher returns from investments in computing power and intelligence
Ramp has spent seven years helping companies extract more value from every dollar, and now it is extending the same focus to the AI domain.
Enterprises need AI that can truly get the work done, and they also need a way to understand the cost of these tasks. Ramp is combining AI tools with financial controls to ensure that every dollar and every token is invested in effective areas, thereby accumulating these benefits into higher productivity and faster growth.
Recently launched products include:
- Glass: A AI workspace that is independent of models and collaborative in nature, allowing for continuous accumulation of knowledge.
- Ramp Accounts Receivable: Automate the process from contract signing to cash collection, including invoicing, payment follow-up, cash posting, and revenue recognition.
- AI Token Spend Management: Provide a unified interface for the finance and technical teams to understand and control AI expenditures related to cross-supplier, team, model, user, and API keys.
- Router.com: Route requests through a single entry point based on performance and cost, reducing enterprise inference costs by up to 40%.
Ramp, co-founder and co-CEO, Eric Glyman said: "We have always focused on saving our customers time and money. This is also why our growth rate is more than twice that of a year ago. AI has significantly increased the workload of running a company, and our opportunity is to complete these tasks at a lower cost. We hope to help every business operate better with the help of AI."
AngelList Control Supervisor Greg Cooley stated: "The Token Spend Management from Ramp helped us reduce our monthly AI expenditures by 17.5%. This gives us more room to invest in the work that truly drives the business forward. We hope to continue expanding the scope of use for AI, and Ramp helps us make the most of every dollar."
Serval Chief Technology Officer Alex McLeod stated: "When building a AI company, the models available to engineers and the cost of running these models directly affect what you can achieve. Router enables our team to access models from different suppliers through a API and automatically optimize costs. For our coding agents, this means that the inference cost is almost halved – these savings can be reinvested in product development."
Key company data as of October 1, 2026
- Annual revenue exceeds $2 billion, and it maintains a positive cash flow.
- With over 85,000 customers, including Visa, Uber, Shopify, Robinhood, Fanatics, Notion, Cursor, the Denver Broncos, and The Boys, and, Girls Club.
- Annual procurement amount exceeds $275 billion.
- Median customer: savings of 7.5% in the first year, with revenue growth of 16%.
After completing this round of financing, Ramp has accumulated approximately $5 billion in equity financing.
About Ramp
Ramp helps businesses save time and money on every expense. It is the intelligent financial infrastructure behind card payments, invoices, and reimbursement processes, capable of automating approvals, processing payments, and completing account settlements. More than 85,000 organizations, ranging from family farms and space startups to Fortune 100 companies, are using Ramp, saving over $1 billion each month and over a year's worth of work per hour. Median customers using Ramp achieved a 7.5% cost reduction and a 16% increase in revenue in their first year. Ramp was founded in 2019 and processes over $275 billion in purchases annually. For more information, please visit www.ramp.com.
* When calculating the total purchase amount, Ramp does not include bank transfers or unpaid payments that have not been realized.
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