Ramp announced that it has reached a valuation of $32 billion after completing a $300 million primary financing round alongside an employee tender offer, marking one of the most significant private funding events of 2025 in the financial operations sector. Lightspeed Venture Partners led the round, joined by a substantial roster of existing backers including Founders Fund, D1 Capital Partners, Coatue, GIC, Avenir Growth, Thrive Capital, Sutter Hill Ventures, T. Rowe Price, Khosla Ventures, ICONIQ, Glade Brook Capital Partners, Soma Capital, Emerson Collective, 8VC, Lux Capital, Definition Capital, 137 Ventures, General Catalyst, Box Group, Kultura Capital, Pinegrove Venture Partners, Anti Fund, and Stripes. New investors included Alpha Wave Global, Bessemer Venture Partners, Robinhood Ventures, 1789 Capital, Epicenter Capital, and Coral Capital.
The company continues its rapid ascent in the financial operations market, reporting that it has helped organizations save more than $10 billion and 27.5 million hours through automation and AI-driven workflows. Ramp said it has recently doubled the percentage of zero-touch transactions for employees, cutting manual work and speeding financial processes across functions. In July, the company launched its first agent, Agents for Controllers, and expanded its agentic workflow suite with Agents for AP in October.
Ramp’s AI made over 26 million decisions in October across more than $10 billion in customer spend. The platform’s agents performed multiple tasks that traditionally require human review, including blocking out-of-policy transactions, moving idle cash into investment accounts, preventing fraud attempts, and optimizing customer travel costs.
Key company performance metrics highlight strong momentum heading into 2026. Ramp is now generating more than $1 billion in annualized revenue while producing free cash flow, serving over 50,000 customers, enabling more than $100 billion in annualized purchase volume, and more than doubling its customer base year over year.
Enterprise adoption has been exceptionally robust, with the number of customers generating at least $100,000 in annualized revenue increasing 133 percent. The company stated that most customers now use multiple products across the platform. Ramp has raised a total of $2.3 billion in equity financing to date.
In a letter shared with customers, Eric Glyman, co-founder and CEO of Ramp, described the company’s growth trajectory, the rise of AI-powered financial automation, and the concept of “thinking money.” Glyman detailed how Ramp’s AI is designed to make spending more efficient by auditing, analyzing, and optimizing financial decisions in real time. He contrasted this with traditional enterprise financial systems, which he described as slow, inefficient, and prone to bureaucratic bloat.
The letter positioned Ramp’s technology as a catalyst for reversing long-standing productivity stagnation in the broader economy. Glyman argued that AI-enabled automation enables companies to save money, grow faster, and shift their financial teams from low-level administrative work to high-leverage decision-making.
Ramp’s long-term vision centers on redefining how organizations operate by eliminating friction in finance, allowing teams to focus on strategy rather than manual processes. Glyman said this shift will enable businesses to grow at a faster clip and reclaim operational speed that is often lost as companies scale.
Ramp continues to market itself as a platform capable of transforming corporate financial infrastructure, providing tools for expense management, bill payment, procurement, travel booking, treasury operations, and automated bookkeeping, all powered by AI. More than 50,000 organizations now rely on Ramp, ranging from small businesses to large enterprises, and the company processes more than $100 billion in annual purchases.
The company’s latest funding marks a new stage of expansion for Ramp as it competes with incumbents and emerging AI-native finance platforms. Its valuation places it among the highest-valued private fintech companies globally.
KEY QUOTES:
“I don’t want anyone at Sierra spending time on expense reports or invoices. Ramp’s AI has automated entire categories of work that used to slow us down. Because of Ramp, we now have more time to focus on what actually matters, building great products and growing the business.”
Bret Taylor, Co-Founder and CEO of Sierra and Chairman of OpenAI
“Our goal is to make every customer more profitable. On average, companies that switch to Ramp spend 5% less and grow 12% faster – results that outpace nearly every benchmark. The most disciplined and fastest-growing teams choose Ramp because it helps them scale more efficiently. We are working hard to bring that advantage to every business.”
Eric Glyman, Co-Founder and CEO of Ramp
