Ramp hits $60B valuation with $1.85B funding round
Expense management platform Ramp raised $1.85 billion on October 15, 2026, valuing the company at $60 billion while expanding deeper into AI services.
Stock photo for illustration only, not from the actual event
- Ramp secures a $1.85 billion funding round, pushing its valuation to $60 billion
- Annualized revenue crosses $2 billion with annualized purchase volume over $275 billion
- Expands beyond expense management into procurement, accounting, and AI agent tools
Expense management company Ramp announced on Thursday, October 15, 2026, that it has raised $1.85 billion in a new funding round valuing the company at $60 billion. This milestone comes just four months after the startup raised $750 million at a $44 billion valuation.
The financing round was co-led by Dragoneer Investment Group, Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth. With this latest injection of capital, the company has raised approximately $5 billion in total funding to date.
Ramp reported that its annualized revenue has surpassed $2 billion, up from $1.5 billion in June, with revenue growth running 25% faster than the same period last year. The company also handles over $275 billion in annualized purchase volume, marking a 175% increase year-over-year, and serves 85,000 customers including Visa, Uber, Shopify, Robinhood, Anduril, Notion, Cursor, and Figma.
Stock photo for illustration only, not from the actual event
Alongside traditional expense tracking, Ramp has broadened its lineup into payments, fraud detection, procurement, vendor management, and accounting. The startup has heavily integrated artificial intelligence by embedding AI agents into its products, launching a corporate credit card built specifically for AI agents, and entering the model routing market in August to capture growing AI inference demand.
Earlier in October, Ramp introduced Glass, a collaborative workspace designed to capture and remember automated workflows, prompts, and skills built by employees to boost collective organizational knowledge.
"In just a few years, Ramp has become a much broader financial operations platform, with AI deeply embedded in how the company builds and operates. We believe Ramp is well on its way to becoming one of the defining companies of this era"
Christian Jensen, Dragoneer
Ramp's rapid ascent highlights the broader shift in financial technology toward fully automated, AI-driven corporate operations. As the company expands its suite of products, it increasingly intersects with rivals like Rippling, setting the stage for intense competition over enterprise finance budgets.
Source: TechCrunch
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