Ramp Secures US$200m at US$16bn Valuation in Series E Round
Ramp has closed a US$200m Series E funding round at a US$16bn valuation, with Founders Fund leading the investment for the fifth consecutive time.
The financial operations platform has attracted participation from Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth and Definition Capital.
The New York-based company now serves more than 40,000 businesses and processes over US$80bn in annualised purchase volume across card transactions and bill payments. The platform has achieved total equity financing of US$1.4bn since its inception.
Ramp's customer base spans multiple sectors, including CBRE, Shopify, Anduril, Notion, Cursor, Vercel, Barry's and MAGNA-TILES.
The company reports that half of its customers use two or more products across its platform, which encompasses corporate cards, expense management, bill payments, procurement, travel booking and treasury services.
The fintech has generated US$10bn in savings for customers whilst reducing administrative time by 27.5 million hours to date. Eric Glyman, Co-founder and CEO, positions the company as a solution to operational inefficiencies in corporate finance management.
AI integration drives operational efficiency
Ramp has embedded artificial intelligence across its product suite, with the technology handling tasks such as automatic receipt categorisation, policy compliance checking, and cash flow forecasting.
The company allocates over 50% of its payroll to research and development, employing 13 individuals who have achieved recognition at the International Olympiad in Informatics or International Mathematical Olympiad.
The platform's AI capabilities include automatic memo completion and categorisation upon card transaction clearance, policy violation flagging, and procurement price benchmarking against market data.
Treasury functions incorporate cash forecasting and automated fund sweeping to optimise yield whilst maintaining liquidity requirements.
“Our AI auto-fills memos and categories as soon as a swipe clears, flags anything that looks out of policy, and automatically suggests memos for any transactions that still need human context,” says Eric.
Customer implementations demonstrate measurable efficiency gains. Construction One reduced its accounts payable team's monthly close time by 75%, saving 360 hours annually.
Poshmark achieved free cash flow targets five months ahead of schedule by redirecting resources from administrative tasks to strategic initiatives. An unnamed industrial company processed US$47m through Ramp cards, with built-in controls preventing 9% of out-of-policy spending, resulting in US$4m in savings.
Market expansion and product development
Ramp has launched 270 features in the first half of 2025 and 300 features in the previous year, whilst reducing customer support contacts by 34%.
The company measures that customers complete three times more work per minute spent on the platform compared to two years ago.
Recent product additions include Price Drop functionality, which automatically rebooks hotel reservations when prices decrease. The feature operates without customer intervention, reflecting the company's approach to background automation.
The platform's expense management system has doubled the percentage of employee expense reports completed without human intervention.
Administrative task completion time has decreased by more than 50% across activities including expense review, trip approval, bill payment, and deposit management.
Glyman estimates that Ramp currently serves 1.5% of the US market, indicating expansion potential within the domestic corporate finance sector.
The company's positioning targets businesses seeking to reduce time spent on financial administration whilst maintaining operational control.
“People ask how we're using AI in finance and I have a simple answer for them. We use Ramp,” says Rama Katkar, Chief Financial Officer at Notion.
Michael Truell, CEO of Cursor, describes Ramp's engineering capabilities as distinct within the fintech sector.
“Most finance tools feel like they were built by people who've never worked at a high-velocity startup. Ramp's engineering team is elite and ships fast. They actually understand what velocity means,” says Michael.
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