Ramp recently announced it raised $750 million in funding at an $8.1 billion valuation.

Ramp, the finance automation platform and first corporate card meant to help businesses spend less, raised $750 million, valuing it at $8.1 billion. Founders Fund led a $200 million equity investment round with participation from all key current investors, including D1 Capital Partners, Thrive Capital, Redpoint Ventures, Coatue Management, Iconiq, Altimeter, Stripe, Lux Capital, Vista Public Strategies, Spark Capital, and Definition Capital. New investors General Catalyst, Avenir Growth Capital, 137 Ventures, and Declaration Partners joined IT sector stalwarts. Plus Ramp received $550 million in loan funding from Citi and Goldman Sachs, which doubled its $300 million investment. 

Ramp helps startups, multi-billion dollar companies, and multi-generational potato growers manage their spending and establish sustainable businesses. With over 5,000 businesses on the platform, Ramp saw its revenue expand roughly 10x in 2021 and powers over $5 billion in annually payments flow. Ramp also launched Bill Pay, its fastest-growing solution, integrated Buyer to offer negotiation-as-a-service, and launched Ramp for Travel. 

Ramp automates non-payroll expenditure across employee expenses, travel management, procurement, bill payments, and more. After releasing a travel solution and fully automated expense management, Ramp will accelerate its finance automation platform development with the extra cash. 

Ramp doubled its employees over the past year and will launch a new office in emerging tech hub Miami later this year to support strong product and customer growth. Ramp and Amazon Company have announced a receipt-matching integration and spend controls partnership to streamline business purchases. Ramp for Travel was launched alongside Lyft, WeWork, and other top travel companies.

Eric Glyman, co-founder & CEO, Ramp:

“We are pursuing an extraordinary opportunity to overhaul an industry that historically has been misaligned and out-of-touch with the needs of its customers. Since day one Ramp has been designed to save our customers time and money, which is fueling our rapid growth. We’ve delivered over $135 million in savings for our customers to date. We’re helping companies close their books in eight hours instead of the industry median of eight days – freeing up 3.5 million hours of manual work. None of our competitors can say the same. With this funding, we will continue to help even more businesses manage their money easier, faster, and smarter.”

Keith Rabois, General Partner, Founders Fund:

“One of our core differentiators at Founders Fund is the willingness to double, triple, quadruple down when a company is executing at the highest levels. Especially in volatile times like today, top-tier CFOs are looking to get the most out of every dollar and hour, and Ramp is the best tool on the market to enable that. They’ve also successfully transitioned from a single-product company to a finance automation platform. This second act has massive potential for upside. Ramp is freeing finance teams from outdated processes and enabling them to focus on not just funding growth, but accelerating it.”