In just 3 months, Ramp’s valuation jumped to $16B from $13B

Ramp, a startup specializing in spend management, revealed on Tuesday that it successfully secured $200 million in a Series E funding round, predominantly backed by its main investor, Founders Fund. Remarkably, this funding has propelled the company’s valuation to $16 billion, marking a staggering increase of $3 billion from the $13 billion valuation reported just three months prior. This impressive valuation is more than double the $7.65 billion post-money valuation Ramp achieved a little over a year ago after raising $150 million. While details about the company’s revenue remain closely guarded, CEO Eric Glyman previously indicated that Ramp has experienced 'incredible growth' since their last disclosure. In the summer of 2023, he noted that the company surpassed an annualized revenue of $300 million. The Series E funding round also saw participation from a variety of prominent venture capital firms, 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, all of which are existing investors eager to support Ramp's growth trajectory.