Fintech company Ramp raised $1.85 billion at a $60 billion valuation, about four months after a $750 million round valued it at $44 billion. Dragoneer, Thrive Capital, Founders Fund, Sands Capital and Avenir co-led the round, with Fidelity, T. Rowe Price, Coatue, General Catalyst and Lightspeed also taking part. Total funding is roughly $5 billion.
Annualized revenue has passed $2 billion, up from about $1.5 billion in June, and annualized purchase volume exceeds $275 billion, up 175% year over year. Ramp now counts 85,000 customers, including Visa, Uber, Shopify and Notion, up from 70,000 in June.
The company has grown from expense management into payments, procurement, vendor management and accounting, and is adding AI features: agents across finance workflows, a corporate card designed for AI agents, a model-routing service and a workspace for sharing employee-built automations. It increasingly competes with Rippling for finance-team budgets.