Ramp, the innovative spend management startup, announced a major milestone on Tuesday with the completion of a $200 million Series E funding round. Led by its largest investor, Founders Fund, this investment has propelled Ramp to a staggering $16 billion post-money valuation. This marks a remarkable $3 billion jump from its previous valuation of $13 billion, which was announced just a few months earlier in March following a $150 million secondary share sale.
Ramp’s rapid growth is truly impressive. Less than a year ago, the company was valued at $7.65 billion after raising $150 million. Today, it’s more than doubled that valuation, reflecting its strong market momentum and investor confidence. While CEO Eric Glyman has kept quiet about specific revenue figures, he previously mentioned in March that Ramp had experienced “incredible growth,” and by summer 2023, the company surpassed $300 million in annualized revenue.
The latest round also saw participation from a host of prominent existing investors, including Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital. Their continued support underscores Ramp’s position as a leader in the spend management landscape and highlights the confidence in its future growth trajectory.
