Ramp, the New York company behind corporate cards and finance-automation software, has raised $1.85bn in new funding at a valuation of $60bn. Co-founders Eric Glyman and Karim Atiyeh marked the milestone in a blog post titled "Ramp at $60B" on 15 October 2026.
Italian news agency Teleborsa, reporting on Ramp's announcement, said Dragoneer Investment Group led the round, with Thrive Capital, Founders Fund, Sands Capital and Avenir Growth as co-leads. Reuters, as cited by DigitalToday, described the money as coming from the issue of new shares.
Bloomberg had first reported the deal on 9 October, citing people familiar with the matter; Ramp declined to comment at the time. Bloomberg described the $60bn figure as the valuation before the new money, according to The Next Web, while DigitalToday's report described it as the valuation after the round.
“Over the summer, we passed $2 billion in annualized revenue, with positive cash flow.”Eric Glyman and Karim Atiyeh, Co-founders and Co-CEOs, Ramp
Who invested
Teleborsa listed a long roster of other participants: Capital International, Fidelity Management & Research, T. Rowe Price, D1 Capital Partners, Greenoaks, ICONIQ, GIC, 8VC, 1789 Capital, Alpha Wave Global, Ontario Teachers' Pension Plan, Coatue, D.E. Shaw, Definition Capital, FirstMark, General Catalyst, Generation Investment Management, Glade Brook Capital Partners, Khosla Ventures, Lightspeed Venture Partners, Pinegrove Opportunity Partners, Soma Capital and Stripes.
Many of these names are returning backers. ICONIQ, GIC and Ontario Teachers' Pension Plan led Ramp's previous round in June, and Founders Fund, Thrive Capital, Coatue, General Catalyst and Khosla Ventures also took part then.
Several of the co-leads were already shareholders. Ramp's June press release listed Founders Fund, Thrive Capital, Sands Capital and Avenir Growth among the previous investors that put money into that round.
What Ramp does
Founded in 2019, Ramp sells corporate cards together with software for expenses, bill payments and accounting. In recent months it has pushed further into AI: this year it launched Stack for faster month-end closes, an accounts-receivable product, AI Spend Management to track what companies spend on AI, Router to choose the right AI model for a task, and Glass, a tool for sharing knowledge inside a team.
In their post, Glyman and Atiyeh said 85,000 businesses now use Ramp and that the product saves them more than $1bn a month. They said customers saved 1.5 million hours in September alone. Teleborsa reported that the number of enterprise customers generating more than $100,000 in revenue had risen 113% from a year earlier.
Its closest rival, Brex, sold to Capital One for $5.15bn earlier this year, The Next Web noted.
Revenue and the funding so far
The founders wrote that Ramp passed $2bn in annualized revenue over the summer and is cash-flow positive. In June the company had reported more than 70,000 customers; The Next Web noted that Bloomberg had put annualized revenue above $1.5bn at that point.
That June round raised $750m at a $44bn valuation and, according to Ramp's press release at the time, took its total equity funding past $3bn. The new round therefore adds about $16bn to the company's valuation in four months. Ramp did not say how it plans to use the new capital.
Company website: ramp.com