Ramp Raises $750 Million at $8.1 Billion Valuation

Ramp is a corporate management startup that was created to help businesses to save time and money. It is a finance automation platform with next-generation finance tools such as corporate cards, expense management, account integration, and bill payments.

The funding round was led by Founders Fund. Stripe, D1 Capital Partners, Iconiq Capital, Thrive Capital, Redpoint Ventures, Coatue Management, Iconiq, Altimeter, Stripe, Lux Capital, Vista Public Strategies, Spark Capital, and Definition Capital also took part in the round. General Catalyst, Avenir Growth Capital, 137 Ventures, and Declaration Partners joined the round too.

Ramp, New York, was founded by Eric Glyman, Gene Lee, Karim Atiyeh in 2019. In the beginning, the company focused on small-to-medium-sized businesses, as of now, it works with all-size businesses. Ramp has over 5000 clients, and it powers more than $5 billion in annualized payment volume. “It took us over two years to reach 10,000 cumulative cardholders, and now we are adding that many in a month,” Eric Glyman, CEO. The startup expanded beyond corporate card offers, when it acquired Buyer startup to help clients to save money on SaaS contracts, then Ramp expanded into the travel segment. Recently, the company started a partnership with Amazon for Business.

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