Ramp Bets on AI to Redefine Modern Spend Management

Ramp is continuing to build momentum in its drive to help businesses cut costs and improve efficiency.

By May 2026, the typical Ramp customer was saving 50% more money and 32% more time compared to the previous year, with customers using the full platform suite seeing those savings increase to more than double.

Driving velocity and global expansion

This sharp increase in value has been fuelled by rapid product innovation.

Over recent months, Ramp has rolled out more than 70 new products and features, completed the strategic acquisitions of Billhop and Juno to support its planned expansion into Europe and strengthened its partnership with Visa to allow AI agents to carry out autonomous corporate payments.

The company also revealed a US$750m primary funding round led by ICONIQ, GIC and Ontario Teachers' Pension Plan, bringing its valuation to US$44bn.

New backers include Goldman Sachs Alternatives, D.E. Shaw & Co., Morgan Stanley Investment Management, Generation Investment Management, Insight Partners and BroadLight Capital.

Existing investors taking part in the round include Founders Fund, Lightspeed Venture Partners, D1 Capital Partners, T. Rowe Price, General Catalyst, Alpha Wave Global, 137 Ventures, Thrive Capital, Coatue, Sands Capital, Khosla Ventures, 1789 Capital, Avenir Growth, BoxGroup, 8VC, Pinegrove Venture Partners, Definition Capital and Stripes.

Eric Glyman, Co-Founder and CEO of Ramp, says: "For 500 years, business ran on two pillars of spend: people and vendors. In the last 24 months, a third arrived – intelligence, paid by the token and invisible to every system we've built to manage cost.

"Ramp is the infrastructure for the third pillar."

Capturing the AI economy

Even after expanding to around 20 times its earlier scale, Ramp increased its Total Payment Volume (TPV) by approximately 170% year-on-year in March 2026, its fastest pace of growth in the past three years.

This momentum is being driven by a move into entirely new categories, including token spend management aimed at addressing one of the fastest-growing cost areas for modern businesses.

At the same time, Ramp is making its first push into the accounting firm segment with the launch of its new platform, Stack, positioning itself as core infrastructure for managing the next wave of AI-related expenses.

Recent launches include:

• Ramp Stack: An AI-powered operating system designed for leading accounting firms
• AI token spend management: Enhanced visibility and control over AI-related costs
• Ramp Budgets: Live budget tracking across all teams
• Procurement agents: End-to-end automated purchasing, from request through to payment
• Accounting agents: Self-directed close and reconciliation processes
• Ramp for Startups: Spend infrastructure tailored to early-stage businesses.

Ramp brings the same AI-first approach to its internal operations as it does to its product suite, making significant investments in proprietary automation tools to optimise efficiency across the business.

This includes Inspect, an in-house software factory that generates more than two-thirds of the company’s codebase.

Alongside this, Ramp has introduced Glass, a unified AI workspace used across teams from engineering to legal, helping drive internal AI adoption to 99.5%.

Eric adds: “We're growing as fast as we were three years ago, at roughly twenty times the size.

“And that's because finance is going through the biggest structural change since the spreadsheet.

“Every company needs infrastructure to navigate an AI economy, from a CFO in London to an accounting firm in Wichita.

“While we're growing fast, we still only serve a fraction of the market. There's a lot more work to do."