Investors are putting about $1.85B into Ramp in a deal that values the New York company at roughly $60B, people familiar with the deal said. Dragoneer Investment Group and Thrive Capital led the round, and Founders Fund, which already owned a stake, put in a sizeable amount too.
Ramp itself has not confirmed the size of the round or who is in it. Its co-founders did publish a blog post titled “Ramp at $60B”, which says the company’s annualised revenue passed $2B over the summer and that its cash flow is positive. The $60B figure is the value before the new money comes in, and nobody has said how that money will be spent.
For anyone new to the name, Ramp gives businesses company cards and ties them to software that tracks expenses, pays supplier bills and handles purchasing. Artificial intelligence (AI) agents built into that software take care of routine checks, and the company says 85,000 businesses use it today.
“Our mission hasn’t changed. It’s just gotten bigger,” wrote Eric Glyman and Karim Atiyeh, the co-founders who now share the chief executive role.
The Growth Behind The New Price
Those 85,000 customers compare with the more than 70,000 Ramp reported in early June. Between them, the company says, they save more than $1B a month, and in September alone its software saved them 1.5 million hours of work.
The Denver Broncos, AngelList and the voice AI company ElevenLabs are among the customers named in the October post. In June, Ramp listed Visa, Uber, Shopify, Anduril and Figma as users, and said more than 3,200 customers were each worth at least $100,000 a year to it.
When Ramp raised $750M at a $44B valuation in June, it put its annualised revenue above $1B, with positive free cash flow. By its own account, that figure passed $2B within a few months.
Glyman, then co-founder and chief executive, linked that pace to a bigger change in how finance work is done. “We’re growing as fast as we were three years ago, at roughly twenty times the size,” he said at the time. “And that’s because finance is going through the biggest structural change since the spreadsheet.”
Ramp was valued at $16B in June 2025 and $22.5B a month later, then at $32B after a $300M round led by Lightspeed Venture Partners in November 2025. The new valuation sits about $16B above June’s $44B, reached in roughly four months.
Familiar Names Return As Backers
Thrive Capital, a New York venture firm, already owned part of Ramp before this round. It was one of the returning investors in June, along with Founders Fund, Lightspeed, D1 Capital Partners, T. Rowe Price, General Catalyst and Coatue.
That June round was co-led by the investment firm ICONIQ, Singapore’s state investor GIC and the Ontario Teachers’ Pension Plan, and it brought in Goldman Sachs Alternatives, D.E. Shaw & Co. and Morgan Stanley Investment Management as new shareholders. Ramp said then that its total equity funding had passed $3B. The June deal was its Series F, while the new round has not been given a series name.
From Company Cards To AI Agents
Ramp’s website now calls it “one platform for all of finance”. That covers cards and expenses, purchasing and supplier payments, accounting automation and business banking, with more than 200 links into tools companies already use.
In practice, a finance team hands out cards with spending limits set in advance. Ramp’s software then collects the receipts, checks each purchase against company policy and sends the records to accounting systems such as Xero and QuickBooks. AI agents now run across these products, including ones that handle procurement and accounting tasks, and Ramp also sells a tool that tracks what companies spend on AI services.
Its launches this year include Stack, an AI system for accounting firms, and Accounts Receivable, which drafts invoices from contracts and matches incoming payments to them. Router gives software developers a single connection to many AI models, so they can test them and shift work between them. Glass, launched in October, lets staff turn one colleague’s best AI work into skills the whole company can reuse.
Buying Billhop, a payments firm, gave Ramp payment licences in the United Kingdom and Sweden, and it also picked up the guest travel platform Juno. In September, it opened its cards, expense tools, bill payments and accounting automation to all businesses in the United Kingdom.
Rival Brex Went To Capital One
Brex, the San Francisco company long seen as Ramp’s closest rival, sells a similar mix of cards, expense tools and banking. It now belongs to the American bank Capital One, which completed its $5.15B purchase in April 2026. Ramp’s reported valuation is more than 11 times that price.
Glyman and Atiyeh have sold a company to Capital One before. They started the price-tracking app Paribus in 2014 and sold it to the bank two years later, then founded Ramp with Gene Lee in 2019.
Where Ramp Stands Now
Ramp moves into its next stage valued near $60B, with fresh money reported from Dragoneer, Thrive and Founders Fund. The round’s details come from people familiar with the deal rather than from the company, and the revenue, cash flow and customer figures are Ramp’s own.
What began as a company card has grown into a wider finance business, selling accounting, purchasing, banking and AI tools, and it now sells in the United Kingdom as well. Its founders sum it up in a line: the mission is the same, only bigger.
