Ramp Valuation Soars: From $13B to $16B in 3 Months

Ramp Secures $200 Million in Series E Funding

Ramp, a company focused on spend management solutions, revealed on Tuesday the completion of a $200 million Series E funding round. The investment was spearheaded by Founders Fund, the startup’s most significant investor.

This latest funding values Ramp at $16 billion post-money. Notably, this represents a substantial increase of $3 billion compared to the $13 billion valuation announced in March following a $150 million secondary share sale.

Rapid Valuation Growth

The current valuation is more than twice the $7.65 billion post-money valuation achieved just over a year prior, when Ramp secured $150 million in funding. The company’s financial trajectory demonstrates significant momentum.

While CEO Eric Glyman has not disclosed specific revenue numbers, he indicated in March that revenue had seen “incredible growth” since the last reporting period. Previously, in the summer of 2023, he stated that Ramp had exceeded $300 million in annualized revenue.

Investor Participation

A diverse group of venture capital firms participated in the Series E round, primarily consisting of existing investors. These include:

• Thrive Capital
• D1 Capital Partners
• General Catalyst
• GIC
• ICONIQ Growth
• Khosla Ventures
• Sands Capital
• 8VC
• Lux Capital
• Stripes
• 137 Ventures
• Avenir Growth
• Definition Capital

The broad participation from established investors underscores confidence in Ramp’s continued success and market position. The company is poised for further expansion within the spend management landscape.