Ramp hits $60 billion valuation after raising $1.85 billion

Expense management platform Ramp announced on Thursday that it has secured $1.85 billion in new funding, establishing a $60 billion valuation for the organization. This financing event occurred just four months after the company raised $750 million at a $44 billion valuation, signaling rapid growth in the fintech sector.

Dragoneer Investment Group, Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth co-led the investment round. The capital injection supports Ramp’s expansion beyond traditional expense management into payments, fraud detection, procurement, vendor management, and accounting services.

Strategic expansion

Ramp reported that its annualized revenue has crossed $2 billion, an increase from the $1.5 billion reported in June. The company stated that its revenue growth is 25% faster than the same period last year. Additionally, Ramp claims to facilitate annualized purchase volume exceeding $275 billion, representing a 175% increase from a year earlier.

The customer base has grown to 85,000, up from 70,000 in June. Notable clients include Visa, Uber, Shopify, Robinhood, Anduril, Notion, Cursor, and Figma. This broad adoption underscores the platform’s integration into various industry sectors.

AI integration

The startup is heavily embedding artificial intelligence into its product suite. AI agents are now integrated into procurement, expense management, accounting, and budgeting tools. Ramp also launched a corporate credit card specifically designed for AI agents to use.

In August, the company entered the model routing business to serve the AI inference market. This service includes AI token usage monitoring and token spend management. Earlier this month, Ramp launched Glass, a workspace for collecting and sharing AI automations, prompts, and skills across an organization.

Defender's checklist

Organizations should monitor vendor financial health and service continuity. Review contracts for clauses related to valuation changes or service pivots. Assess how new AI features in financial platforms impact data privacy. Verify that third-party integrations comply with internal security policies.

Operational impact

Leadership teams must evaluate how vendor consolidation affects operational resilience. When a supplier expands rapidly into adjacent services like AI, internal risk teams should review data sharing agreements. Procurement departments need to verify that new features align with existing compliance frameworks. Communication between finance, IT, and legal is essential to manage evolving vendor relationships.

Background: AI agents

An AI agent is a software system that perceives its environment, makes decisions, and takes actions to achieve specific goals without constant human input. Unlike passive tools, agents execute tasks, browse data, and interact with other systems autonomously.

Read the full guide: AI Agents Defined: Autonomy, Risk, and Real-World Use

What to do and how to stay safe: Ramp

• Review current contracts with financial platforms for changes in service scope.
• Audit data permissions granted to AI agents within expense management tools.
• Monitor vendor announcements for new integrations that may affect security posture.
• Ensure internal policies address the use of AI-generated financial reports.

Step-by-step guide: Implementing AI Usage Policies at Work: A Step-by-Step Framework

General security guidance from the InfoSec Ledger newsroom. It is not confirmed advice from the organisations named in this story.

Frequently asked questions

How much funding did Ramp raise in this round?

Ramp raised $1.85 billion in the new funding round.

What is Ramp's current valuation?

The company is now valued at $60 billion.

How many customers does Ramp have?

Ramp has 85,000 customers.