The one space exterior of AI the place buyers are nonetheless enthusiastic is expense administration fintech, not less than if Ramp’s 2025 is something to evaluate by. Each few months, Ramp has raised one other giant sum at one other large new valuation. On Monday, the fintech introduced it had raised $300 million led by Lightspeed, which additionally included an worker tender provide.
That is only a few months after a $500 million Sequence E-2 at a $22.5 billion valuation led by Iconiq, announced on July 30. That spherical was only a few weeks after a $200 million Sequence E at a $16 billion valuation led by Founders Fund, introduced in mid-June. And that Sequence E was simply three months after a $150 million secondary share sale at a $13 billion valuation in March.
In April 2024, Ramp had raised a $150 million Sequence D co-led by Khosla and Founders Fund at a $7.65 billion valuation.
With Monday’s spherical, Ramp has raised $2.3 billion in whole fairness financing, it says. And in 2025 alone, the corporate leapt from being value $13 billion to $32 billion.
Ramp in October stated it had surpassed $1 billion in annualized income, that means it was on a trajectory to herald that a lot on a 12-month foundation.
Ramp immediately presents company expense administration. Whereas it has an AI story to inform — automating some approvals and processes through agentic choices — it’s not an AI firm per se. It presents company bank cards, expense administration/buy order software program, and company journey. The corporate says it has surpassed 50,000 prospects.
