Ramp raises $1.85B, jumps to $60B valuation, up from $44B
Ramp, the expense management company, just jumped to a $60 billion valuation after raising $1.85 billion, up from $44 billion only four months ago.
Big-name investors like Dragoneer, Thrive Capital, and Founders Fund are backing Ramp's rapid rise.
Ramp AI tools push $2B revenue
Ramp's surge comes from weaving AI into its expense and accounting tools, pushing annualized revenue past $2 billion.
They have rolled out an AI-focused corporate card and launched Glass, a platform to share company automations.
It helped them grow their client list to 85,000 (including Visa and Uber) and push annualized purchase volume over $275 billion.
As Dragoneer's Christian Jensen, partner at Dragoneer, put it, "In just a few years, Ramp has become a much broader financial operations platform, with AI deeply embedded in how the company builds and operates. We believe Ramp is well on its way to becoming one of the defining companies of this era,"