What does Ramp do?
Ramp offers an all-in-one financial operations platform designed to help companies save time and money. Its solution integrates payments, corporate cards, vendor management, procurement, travel booking, and automated bookkeeping.
How much did they raise?
The company secured $500M in a Series E-2 funding round at a valuation of $22.5B. ICONIQ led the round, with participation from existing investors such as Founders Fund, D1 Capital Partners, GIC, Coatue, Avenir Growth, Thrive Capital, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Altimeter, Definition Capital, 137 Ventures, General Catalyst, and Stripes, as well as new investors including Sutter Hill Ventures, Lightspeed Ventures, T. Rowe Price Associates, GV, Emerson Collective, Operator Collective, and Pinegrove Capital Partners. This round brings Ramp's total equity financing to $1.9B.
What are their plans for the money?
Ramp intends to use the funds to expand its operations and accelerate its development efforts. This infusion of capital is expected to further enhance its platform capabilities, driving innovation in financial operations for companies.
What have they achieved so far?
Prior to this round, Ramp had already raised a total of $1.9B in equity financing, marking significant progress in its mission to streamline financial operations for businesses.
