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

In a remarkable development, Ramp, a spend management startup, has announced a significant funding milestone. On Tuesday, the company revealed it has secured $200 million in a Series E funding round, led by its primary investor, Founders Fund. This latest round has propelled Ramp's valuation to an impressive $16 billion, marking a substantial $3 billion leap from the $13 billion valuation recorded just three months prior, following a $150 million secondary share sale. This new valuation underscores Ramp's rapid growth trajectory, more than doubling its previous valuation of $7.65 billion achieved just over a year ago when the company raised $150 million. Although CEO Eric Glyman has chosen not to disclose specific revenue figures, he previously noted in March that the company had seen “incredible growth” in its revenue streams. By the summer of 2023, Ramp had reportedly surpassed an annualized revenue of $300 million. The Series E round attracted participation from notable venture capitalists, predominantly from existing investors. Among them were 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. This diverse range of investors highlights the confidence in Ramp's future potential and growth prospects.