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2w ago

Ramp Raises $750 Million at $44 Billion Valuation

The financing signals strong investor backing for Ramp’s push to control rising AI token costs in corporate finance.

Eric Glyman, chief executive officer of RAMP
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Overview

  • Ramp announced the $750 million Series F on Thursday, June 4, saying the round values the company at $44 billion.
  • The funding was led by ICONIQ, GIC and the Ontario Teachers’ Pension Plan with new investments from firms including Goldman Sachs Alternatives and D. E. Shaw.
  • Ramp reports more than $1 billion in annualized revenue, positive free cash flow, and over 70,000 customers, while Bloomberg cites a run rate closer to $1.5 billion.
  • The company has built AI features that track and manage ‘token’ spending and that deploy AI agents for procurement and accounting to automate financial workflows.
  • Investors say the capital will fund expansion into procurement, treasury and international markets and it raises expectations that Ramp must turn AI-driven growth into a durable public-company business.