Ramp seeks $750 million at over $40 billion valuation
Updated
Updated · The Wall Street Journal · May 7
Ramp seeks $750 million at over $40 billion valuation
11 articles · Updated · The Wall Street Journal · May 7
Existing investors Iconiq Capital and GIC are co-leading the round, which has not yet closed and would value the New York startup more than 30% above November's $32 billion.
Ramp, founded in 2019 by chief executive Eric Glyman, said in September it had crossed $1 billion in annualised revenue as it expanded beyond corporate cards into payments, procurement and travel.
The company has raised $2.3 billion to date and is pushing AI finance tools, including agents that flag anomalous transactions and detect AI-generated fakes.
At a $40B valuation, can Ramp's AI model deliver profits or is it just fueling growth?
Why are 70% of new AI business buyers on Ramp now choosing Anthropic over OpenAI?
Will Ramp's 'zero-touch finance' AI make traditional accounting roles obsolete?