Buyers couldn’t get sufficient of Ramp all through 2025 and it seems like 2026 may very well be one other banner 12 months of fundraising for the company spend administration startup. The corporate is in talks to lift one other $750 million at a pre-money valuation of greater than $40 billion, sources tell the Wall Street Journal. The deal will not be but closing although, so phrases might change.
Ramp declined to remark.
In November, Ramp introduced it had raised $300 million at a $32 billion post-money valuation led by Lightspeed, which additionally included an worker tender provide. The corporate introduced in July a $500 million Sequence E-2 at a $22.5 billion valuation led by Iconiq, which was only a few weeks after its $200 million Sequence E at a $16 billion valuation led by Founders Fund. It had raised a few different instances earlier in 2025, every time one other huge valuation step up.
Ramp has additionally had success producing income. In November, Ramp founder CEO Eric Glyman mentioned his firm had reached $1 billion in income, doubling its earnings in only a 12 months. Glyman has additionally been evangelizing a imaginative and prescient of AI embedded all through Ramp’s spend administration merchandise, with brokers that mechanically block out-of-policy purchases, detect fraud, and transfer funds to curiosity bearing investments.
That combo of progress plus AI is, apparently, irresistible to VCs.
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