Ramp Raises $750M in Series F Funding at $44B Valuation

Ramp, a financial operations software provider based in New York City, has secured $750 million in Series F funding, bringing its valuation to $44 billion.

The funding round was led by ICONIQ, GIC, and Ontario Teachers’ Pension Plan. Several new investors also joined the round, including Goldman Sachs Alternatives, D.E. Shaw & Co., Morgan Stanley Investment Management, Generation Investment Management, Insight Partners, and BroadLight Capital.

Existing investors such as Founders Fund, Lightspeed Venture Partners, D1 Capital Partners, T. Rowe Price, General Catalyst, Alpha Wave Global, Thrive Capital, Coatue, Khosla Ventures, Stripes, and others also participated.

With the latest raise, Ramp's total equity funding has surpassed $3 billion.

Funding to Support Growth and Product Development

The company plans to use the new capital to expand its operations and continue investing in product development.

Ramp has focused on building software that helps businesses manage spending, automate financial processes, and improve operational efficiency. The company continues to broaden its platform as organizations seek to reduce manual work across finance teams.

Building a Unified Financial Operations Platform

Founded in 2019, Ramp is led by CEO and co-founder Eric Glyman. The company offers a financial operations platform that combines several business finance functions into a single system.

Its products include corporate cards, payments, vendor management, procurement tools, travel booking, and automated bookkeeping capabilities.

By bringing these functions together, Ramp aims to help organizations manage expenses and streamline financial workflows from one platform.

Growing Customer Adoption

Ramp says more than 70,000 organizations currently use its platform. Its customer base includes small businesses, startups, large enterprises, and Fortune 100 companies.

According to the company, customers have collectively saved more than $12 billion and over 27 million hours through the use of its platform. Ramp also reports that its median customer achieves expense savings and business growth during the first year of adoption.

The latest funding round highlights continued investor interest in financial technology platforms that help businesses improve operational efficiency and automate financial management processes.

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