Ramp Raises $1.85 Billion at a $60 Billion Valuation, Says Annualized Revenue Tops $2 Billion
Ramp announced a $1.85 billion primary round led by Dragoneer on Oct. 15, valuing it at $60 billion, four months after a $44 billion valuation, TechCrunch noted. Ramp says annualized revenue exceeds $2 billion with positive cash flow, and is pitching AI token-spend tools. Figures are company-reported.
Ramp is selling its next chapter as managing what companies spend on AI tokens. The finance-software company announced on Thursday, October 15 a $1.85 billion primary round led by Dragoneer Investment Group, "valuing the company at $60 billion." Thrive Capital, Founders Fund, Sands Capital and Avenir Growth co-led, with participants including Fidelity, T. Rowe Price, GIC, Coatue and Khosla Ventures. TechCrunch notes the round comes four months after Ramp raised $750 million at a $44 billion valuation.
What Ramp reports
Ramp says it generates more than $2 billion in annualized revenue with positive cash flow, and that its revenue "is growing 25% faster now than it was at the same time last year." More than 85,000 companies manage over $275 billion in annualized purchase volume on Ramp, up 175% year over year, it says. With this round it has raised about $5 billion in total equity.
Its AI launches include Glass, a model-agnostic AI workspace; AI Token Spend Management, to track AI spending across providers, models and API keys; and Router.com, which Ramp says cuts inference costs by up to 40%.
Early investor Keith Rabois told TechCrunch last month: "We're going to compete with Anthropic." Ramp's spend data has also fed its AI Index on business adoption.
Limits
- Revenue, cash-flow, customer and savings figures are company-reported. Ramp did not say whether $60 billion is pre- or post-money.
- "Growing 25% faster" describes acceleration in the growth rate, not 25% growth.