Ramp Nets $500 Million in Series E-2 Funding - InforCapital

Ramp, the prominent financial operations platform, has successfully raised $500 million in a Series E-2 funding round at a substantial $22.5 billion valuation. The round was led by ICONIQ and saw continued support from existing investors, including all participants from the June 2025 Series E round. The list of existing investors comprises Founders Fund, D1 Capital Partners, GIC, Coatue, Avenir Growth, Thrive Capital, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Altimeter, Definition Capital, 137 Ventures, General Catalyst, and Stripes. New investors such as Sutter Hill Ventures, Lightspeed Ventures, T. Rowe Price Associates, Inc., GV (Google Ventures), Emerson Collective, Operator Collective, and Pinegrove Capital Partners also joined the round.

Ramp has an impressive track record, saving its customers over $10 billion and 27.5 million hours to date. The platform currently serves more than 40,000 companies, including renowned brands like CBRE, Shopify, Anduril, Notion, Cursor, Vercel, Barry's, and the University of Tennessee Athletics Foundation. With over $80 billion in annualized purchase volume powered by the platform, it's clear that Ramp is a significant player in the finance industry. The company is headquartered in the Flatiron District of New York City

The company recently launched the first of many autonomous AI agents in July, which has helped customers catch 15x more policy violations with near-perfect accuracy. This achievement is particularly impressive considering that Ramp exceeded $1 billion in assets under management for Ramp Treasury in less than six months after its launch. Its product line, which includes corporate cards and expense management, bill payments, procurement, travel booking, and treasury, is widely used by a majority of Ramp customers. With the latest funding round, the total equity financing raised by Ramp has reached $1.9 billion. Also, the company started generating cash flow earlier this year.

"We're focused on ensuring our only constraint is the scale of our ambition," stated Will Petrie, Chief Financial Officer at Ramp. "We have a fortress balance sheet and an accelerating core business. Both will allow us to play to win as AI reshapes the future of finance."

In a letter to customers, Eric Glyman, co-founder and CEO of Ramp, shared that the company has a unique vision for the finance industry. According to Glyman, the manual approach to finance is gradually being replaced by an AI-driven model, and Ramp is at the forefront of this transformation. The company's AI agents are already working round the clock for finance teams at Notion, Webflow, and Quora, reviewing, approving, and coding transactions, flagging fraud, and updating policies. This initiative is a clear indication of the company's commitment to build the future of finance.