What does Ramp do?
Ramp is a financial operations platform that streamlines payments, corporate cards, vendor management, procurement, travel booking, and automated bookkeeping with built-in intelligence, helping companies save time and money.
How much did they raise?
The company secured $200M in Series E funding at a $16B valuation. The round was led by Founders Fund with participation from 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.
What are their plans for the money?
Ramp plans to use the funds to expand its operations and accelerate development efforts, which could further improve its platform capabilities and market reach in simplifying financial operations for businesses.
What have they achieved so far?
The company has already delivered significant value by saving its over 40,000 customers more than $10 billion and 27.5 million hours, serving a diverse range of clients from family farms to space startups.