Ramp announced a $750 million Series F financing round led by ICONIQ, GIC, and Ontario Teachers’ Pension Plan, valuing the company at $44 billion. The new funding brings Ramp’s total equity financing to more than $3 billion and will be used to accelerate investments in artificial intelligence capabilities for customers. New investors in the round include Goldman Sachs Alternatives, D.E. Shaw & Co., Morgan Stanley Investment Management, Generation Investment Management, Insight Partners, and BroadLight Capital, alongside participation from numerous existing backers.
The company said it has experienced significant momentum, with total purchase volume growing approximately 170% year over year in March 2026, its fastest growth rate in three years despite operating at roughly 20 times its previous scale. Ramp attributed the expansion to emerging AI-focused categories, including token spend management, as well as growth through Ramp Stack, its platform for accounting firms.
Founded in 2019, Ramp provides financial operations software designed to help organizations manage spending, payments, procurement, accounting, and expense workflows. The company said it now generates more than $1 billion in annualized revenue while maintaining positive free cash flow.
Ramp reported that customers are realizing greater efficiency gains from its platform. According to the company, the median customer saved 50% more dollars and 32% more hours annually in May 2026 compared to a year earlier. Customers utilizing the full Ramp product suite reportedly achieved more than double those savings levels.
Over the past several months, Ramp launched more than 70 products and major features, completed the acquisitions of Billhop, a UK and European payments platform, and Juno, a guest travel management company, and announced plans to begin serving companies headquartered in the United Kingdom and Europe this summer. The company also expanded its partnership with Visa to support AI-powered autonomous corporate payments with real-time controls.
Among Ramp’s recent product launches are Ramp Stack, an AI operating system for accounting firms; AI token spend management tools; Ramp Budgets for real-time budget tracking; procurement agents that automate purchasing workflows; accounting agents for autonomous close and reconciliation processes; and Ramp for Startups, a spend management platform tailored for early-stage companies.
The company has also deployed AI extensively within its own operations. Ramp said its internal software development platform, Inspect, generates more than two-thirds of the company’s code, while its AI workspace tool, Glass, has contributed to 99.5% AI adoption across the organization.
As of June 1, 2026, Ramp reported serving more than 70,000 customers, including Visa, Uber, Shopify, Anduril, Figma, Notion, Cursor, Stanford Athletics, and The Boys and Girls Club. The company processes more than $200 billion in annualized purchase volume and has achieved more than 100% year-over-year enterprise customer growth, with over 3,200 customers generating at least $100,000 in annualized revenue. Ramp also said that the majority of its customers now use two or more products across its platform.
KEY QUOTES:
“For 500 years, business ran on two pillars of spend: people and vendors. In the last 24 months, a third arrived – intelligence, paid by the token and invisible to every system we’ve built to manage cost. Ramp is the infrastructure for the third pillar.”
“We’re growing as fast as we were three years ago, at roughly twenty times the size. And that’s because finance is going through the biggest structural change since the spreadsheet. Every company needs infrastructure to navigate an AI economy, from a CFO in London to an accounting firm in Wichita. While we’re growing fast, we still only serve a fraction of the market. There’s a lot more work to do.”
Eric Glyman, Co-Founder and CEO, Ramp
