Ramp Hits $16B Valuation as It Doubles Down on AI-Powered Financial Efficiency
Ramp, the financial operations platform known for turning dull finance workflows into silent efficiency engines, just closed a $200 million Series E round at a $16 billion valuation. Once again led by Founders Fund, the raise includes backing from a who’s-who of venture investors—Thrive Capital, D1 Capital Partners, General Catalyst, ICONIQ Growth, and Khosla Ventures, among others.
This marks Ramp’s fifth funding round led by Founders Fund and brings its total equity financing to $1.4 billion. But behind the capital raise is something far more important: momentum.
$10 Billion Saved. 27.5 Million Hours Returned.
That’s what Ramp says it has delivered to customers to date. The platform now handles over $80 billion in annualized card and bill payment volume, serving more than 40,000 companies including Notion, CBRE, Shopify, Vercel, Anduril, and Poshmark.
Its secret? Boring problems solved brilliantly.
“Let the robots chase receipts and close your books,” said co-founder and CEO Eric Glyman, in a candid letter to customers. “So you can use your brain and build things.”
Ramp’s mission is elegantly minimal: “Save your company time and money (without you noticing).” That philosophy has guided a product roadmap that favors automation over dashboards and silence over alerts. And it’s working.
Beyond Expense Reports: Quiet AI, Not Flashy Features
In the past year, Ramp has doubled the number of employee expenses processed without human intervention and cut admin task times by 50%. Customers contacted Ramp 34% less, even as usage increased—a direct result of 300+ new features focused on intuition and automation.
The platform now covers a full financial suite:
- Corporate cards & expense management
- Bill pay and procurement
- Travel booking and treasury tools
Half of Ramp customers use two or more products, reflecting deepening adoption across fast-growing businesses.
Ramp’s latest AI-powered features include:
- Auto-filled memos and real-time policy flagging for card transactions
- Price and seat intelligence for SaaS procurement
- Dynamic cash forecasting and liquidity management in treasury
And then there’s Price Drop—a hotel booking feature that automatically rebooks if the rate falls. It saves money, quietly, and without needing to lift a finger.
“Ramp isn’t ‘with the help of AI’—it’s ‘done for you and we don’t mention it’ AI,” said Glyman.
Elite Engineering, Real Impact
Ramp boasts a world-class R&D culture, investing over 50% of payroll into product and engineering. The company counts more IOI and IMO medalists—elite math and programming talent—than most countries. That intellectual horsepower is powering the backend of some of the most frictionless finance tools on the market.
Startups love it. Enterprises are adopting it. And industry leaders are noticing:
- Construction One cut monthly close time by 75%, saving 360 hours
- Poshmark hit free cash flow goals 5 months early
- An unnamed industrial firm used Ramp’s controls to prevent 9% of out-of-policy spend, saving $4M on $47M in card volume
Still Just Getting Started
Ramp currently serves only 1.5% of the U.S. market. That untapped potential is what’s driving the next phase of growth.
And with financial operations still mired in spreadsheets and manual processes at most companies, Ramp sees itself as the antidote: a simple machine that quietly multiplies output while reducing effort—just like its namesake.
“There’s never been a better time to be a Ramp customer,” said Glyman. “And this is the worst our product will ever be.”
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