Total amount raised
$2 Billions
Latest funding date
Location
Title
Ramp has successfully raised significant funding over multiple rounds, establishing itself as a key player in the financial technology sector. The platform offers a comprehensive suite of tools for spend management, corporate cards, and accounts payable solutions.
Keep reading to explore the intricacies of Ramp's fundraising journey and the investors backing this innovative platform.
What Is Ramp?
Ramp, founded in 2019, is headquartered in New York City. The company specializes in providing spend management solutions, corporate cards, and accounts payable services.
Founded by Eric Glyman, Karim Atiyeh, and Gene Lee, Ramp aims to streamline financial processes for businesses. Their platform includes features like accounting automation, expense management, and travel management.
With a growing team, Ramp continues to innovate in the financial technology sector, helping over 30,000 finance teams save time and money.
How Much Funding Has Ramp Raised?
- Seed Round
- Amount Raised: $7M
- Date: August 2019
- Lead Investors: Keith Rabois
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Series A
- Amount Raised: $15M
- Date: February 2020
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $30M
- Date: December 2020
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features.
- Series B
- Amount Raised: $115M
- Date: April 2021
- Lead Investors: D1 Capital Partners, Stripe
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and expand market reach.
- Debt Financing
- Amount Raised: $150M
- Date: February 2021
- Lead Investors: Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional liquidity for scaling operations.
- Series C
- Amount Raised: $300M
- Date: August 2021
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand into new markets.
- Series C
- Amount Raised: $200M
- Date: March 2022
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support customer growth.
- Debt Financing
- Amount Raised: $550M
- Date: March 2022
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide substantial liquidity for operational expansion.
- Series D
- Amount Raised: $300M
- Date: August 2023
- Lead Investors: Sands Capital Ventures, Thrive Capital
- Valuation at Round: $5.8 billion
- Motivation Behind the Round: To support growth and expand product development.
- Series D
- Amount Raised: $150M
- Date: April 2024
- Lead Investors: Founders Fund, Khosla Ventures
- Valuation at Round: $7.65 billion
- Motivation Behind the Round: To continue growth and enhance product offerings.
- Secondary Market
- Amount Raised: $150M
- Date: March 2025
- Lead Investors: -
- Valuation at Round: $13 billion
- Motivation Behind the Round: To provide liquidity to employees and early investors.
Ramp has raised a total of $2.267 billion with a current valuation of $13 billion.
Key Investors
- Stripes
- Details: Stripes is a venture capital firm known for its focus on high-growth companies. Ken Fox, Founder and Managing Partner at Stripes, has praised Ramp's execution and AI roadmap.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Flatiron Health, Udemy, Snyk.
- GIC
- Details: GIC is a Singaporean sovereign wealth fund with a broad investment portfolio. It focuses on long-term investments across various asset classes.
- Investment Focus Areas: Technology, real estate, infrastructure.
- Notable Investments: Alibaba, Airbnb, Ant Financial.
- Thrive Capital
- Details: Thrive Capital is a venture capital firm that invests in internet and software companies. Kareem Zaki, a partner at Thrive Capital, has highlighted Ramp's practical innovation and efficiency.
- Investment Focus Areas: Internet, software, fintech.
- Notable Investments: Instagram, Stripe, Slack.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that focuses on transformative technologies. It has a strong emphasis on sectors like healthcare and sustainability.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: Square, DoorDash, Impossible Foods.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. It has a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Airbnb, Stripe, Snap Inc.
What's Next for Ramp?
Ramp's future is brimming with opportunities, driven by its expansion into new product lines like Ramp Procurement, Ramp Travel, and Ramp Treasury. With a current annualized payment volume of $55 billion and a customer base of over 30,000 businesses, the potential for growth is substantial. The company's focus on AI-driven financial management solutions aligns with industry trends, positioning it to capture a larger market share and enhance operational efficiency.
Future fundraising opportunities appear promising, with continued interest from both existing and new investors. The recent $150 million secondary share sale, which valued Ramp at $13 billion, underscores investor confidence. This financial momentum could pave the way for further secondary sales or primary funding rounds to support accelerated product development and market expansion.
However, Ramp faces challenges such as maintaining growth and efficiency at scale, navigating a competitive fintech landscape, and ensuring seamless integration of its expanding product portfolio. Successfully managing these hurdles will be crucial for sustaining its growth trajectory and achieving long-term success.
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