# Ramp Raises $1.85 Billion at a $60 Billion Valuation, Says Annualized Revenue Tops $2 Billion

Times of AI Desk · 2026-10-15 · Industry

[https://timesof.ai/2026/10/ramp-1-85b-raise-60b-valuation](https://timesof.ai/2026/10/ramp-1-85b-raise-60b-valuation)

> 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](https://timesof.ai/2026/05/ramp-ai-index-anthropic-surpasses-openai-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.

## Sources

- [Ramp via PR Newswire: Ramp Reaches $60 Billion Valuation as Annualized Revenue Tops $2 Billion (October 15, 2026)](https://www.prnewswire.com/news-releases/ramp-reaches-60-billion-valuation-as-annualized-revenue-tops-2-billion-302909315.html)
- [TechCrunch: Ramp reaches $60B valuation as it pushes deeper into AI (October 15, 2026)](https://techcrunch.com/2026/10/15/ramp-reaches-60b-valuation-as-it-pushes-deeper-into-ai/)
- [Times of AI: Ramp AI Index on business adoption (May 13, 2026)](https://timesof.ai/2026/05/ramp-ai-index-anthropic-surpasses-openai-business-adoption)