Ramp, a platform for financial automation, has raised its valuation to $7.65 billion after securing $150 million in series D-2 round fundraising. Khosla Ventures and Founders Fund jointly led this round, with new investors Sequoia Capital, Greylock, and 8VC joining in.
A number of their current backers, including Definition Capital, Contrary Capital, Thrive Capital, General Catalyst, Sands Capital, D1 Capital Partners, and Lux Capital, are increasing their commitment.
Ramp began as a better corporate card just five years ago, and it’s still the case that the goal was to help businesses spend less money, not more. Their primary goal remains the same even now: they help their clients create more successful, lucrative businesses by saving them time and money. But they have made significant progress in their skills.
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They will be able to provide considerably more value for their clients by doubling down on the upcoming wave of innovation thanks to this additional cash. This entails leveraging AI’s ability to streamline laborious procedures, offer more in-depth expenditure insights, improve decision-making skills, and more. As they work with their clients to develop the finance function of the future, they are only getting started.
About Ramp
Ramp is an all-in-one solution that combines corporate cards with accounting automation, bill payment, vendor management, expenditure management, and more. Its goal is to save organisations money and time while enabling finance professionals to focus on their work to the fullest.
Their goal is to support the development of healthier organisations, and over 15,000 companies are using Ramp to close their books eight times faster and save an average of 5% more. Ramp was established in 2019 and powers the nation’s fastest-growing corporate card and bill payment network, facilitating tens of billions of dollars’ worth of annual sales.
