New York, October 15 /PRNewswire/ — Ramp today announced the closing of a $1.85 billion primary financing round led by Dragoneer Investment Group, valuing the company at $60 billion. The round was co-led by Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth, with additional investors including Capital International, Fidelity Management & Research Company, T. Rowe Price, D1 Capital Partners, Greenoaks, token issuer NIQ, GIC, 8VC, 1789 Capital, Alpha Wave Global, Ontario Teachers’ Pension Plan, Coatue, D.E. Shaw, Definition Capital, FirstMark, General Catalyst, Generation Investment Management, Glade Brook Capital Partners, Khosla Ventures, Lightspeed Venture Partners, Pinegrove Opportunity Partners, Soma Capital, and Stripes.
Ramp's current annual revenue has exceeded $2 billion, and the company maintains positive cash flow. The company reports that its revenue growth rate is currently 25% faster than the same period last year. Additionally, Ramp's enterprise business continues to grow, with a 113% year-over-year increase in the number of customers generating over $100,000 in annual revenue.
Christian Jensen, partner at Dragoneer, said: “Ramp is the type of company we are eager to support. It is already a market leader with a deep and lasting moat, and its growth remains extremely rapid. In just a few years, Ramp has evolved into a broader financial operations platform, with AI deeply embedded in how the company builds and operates. We believe Ramp is on track to become one of the defining companies of this era.”
Barron Martin, Managing Partner at Sands Capital, said: “We first invested in Ramp in 2023, when it was becoming the obvious choice for finance teams. With the advancement of AI, Ramp’s platform is now becoming the obvious choice for automating the entire finance office. After three years and multiple funding rounds, we believe this opportunity is even more compelling than when we made our initial investment, and we’re excited to further deepen our partnership with Eric, Karim, and the team.”
Customers get more value from every dollar on Ramp
Over 85,000 companies use Ramp to manage annual procurement spending exceeding $275 billion, a 175% year-over-year increase. Collectively, these customers save over $1 billion per month. The median customer now saves 7.5%, up from 5% a year ago, and requires 22% less manual effort to complete transactions. This means every dollar spent now yields 50% more savings than a year ago, giving customers more room to invest in their own businesses.
As Ramp saves customers more time and money, customers are entrusting it with more of their financial operations—from paying bills and processing payments to collecting revenue. Today, most customers use two or more Ramp products, and one-quarter use three or more. As AI’s role in corporate spending continues to grow, Ramp’s opportunities to deliver additional value are expanding steadily.
Justin Reyhl, Head of Global Travel and Expenses at Uber, said: “At Uber’s scale, even small inefficiencies add up. We want our employees to focus on reimagining how the world can work better, and we want every dollar we spend to drive business growth. Ramp has helped us scale our travel and expense management without adding additional layers of work, while keeping spending under control.”
Ramp helps businesses achieve higher returns from their computing power and intelligent investments.
Ramp has spent seven years helping businesses get more value from every dollar, and now it’s applying the same focus to AI.
Businesses need AI that actually delivers results, and they need a way to understand the cost of those results. Ramp is combining AI tools with financial controls to help teams allocate every dollar and every token effectively, turning those gains into higher productivity and faster growth.
Recently launched products include:
- Glass: A model-agnostic, collaborative AI workspace that continuously builds upon knowledge.
- Ramp Accounts Receivable: Automate the workflow from contract signing to cash collection, including invoicing, payment follow-up, cash receipt, and revenue recognition.
- AI Token Spend Management: Provide a unified interface for finance and technical teams to understand and control AI spending across vendors, teams, models, users, and API keys.
- Router.com: Route requests by performance and cost through a single entry point, reducing enterprise inference costs by up to 40%.
Eric Glyman, co-founder and co-CEO of Ramp, said: “We’ve always been focused on saving our customers time and money. That’s why our growth has more than doubled compared to a year ago. AI has significantly increased the workload of running a company, and our opportunity is to accomplish this work at a lower cost. We aim to help every business operate more efficiently with AI.”
Greg Cooley, Head of Control at AngelList, said: “Ramp’s Token Spend Management helped us reduce our monthly AI spending by 17.5%, giving us more room to invest in work that truly moves the business forward. We want to continue expanding our use of AI, and Ramp helps us get the most out of every dollar.”
Serval’s Chief Technology Officer, Alex McLeod, said: “When building an AI company, the models available to engineers and the cost of running those models directly impact what you can achieve. Router enables our team to access models from multiple vendors through a single API and automatically optimize costs. For our coding agents, this means inference costs have been nearly halved—savings that can be reinvested into product development.”
Key company data as of October 1, 2026
- Annual revenue exceeds $2 billion and maintains positive cash flow.
- Over 85,000 customers, including Visa, Uber, Shopify, Robinhood, Fanatics, Notion, Cursor, the Denver Broncos, and The Boys & Girls Club.
- Annual procurement volume exceeds $275 billion.
- Mid-tier customers: Save 7.5% in the first year, with 16% revenue growth.
After completing this round of financing, Ramp has raised approximately $5 billion in equity financing to date.
About Ramp
Ramp helps businesses save time and money on every expense. It is the intelligent financial infrastructure behind card spending, invoicing, and expense reimbursement, automating approvals, processing payments, and closing books. More than 85,000 organizations—from family farms and space startups to Fortune 100 companies—use Ramp to save over $1 billion per month and reclaim the equivalent of more than a year’s worth of work every hour. The median Ramp customer achieves 7.5% cost savings and 16% revenue growth in their first year. Founded in 2019, Ramp processes over $275 billion in purchases annually. Learn more at www.ramp.com.
Ramp does not include bank transfers or unprocessed payments when calculating total purchase amounts.
Contact: [email protected]