Back in March, we talked about Ramp’s secondary round, the one that pushed them to a $13 billion valuation, $55 billion in annual payment volume, and made it painfully obvious they weren’t just scaling, they were recalibrating the financial core of modern businesses.
And now we’re back again, because Ramp just did what Ramp does: they leveled up, again. $200 million in fresh Series E funding, a $16 billion valuation, and a firm reminder that you can’t talk about the future of finance without talking about Ramp. Period.
And the crew behind it? Tight. Eric Glyman, Karim Atiyeh, and Gene Lee, three minds who co-founded Paribus, sold it to Capital One, and then said, “Let’s build something that changes how money moves inside companies.” Glyman (CEO) took the Harvard route with a stop at Bridgewater and Capital One. Atiyeh (CTO) coded his way through Google and Oliver Wyman. And Lee (CPO)? A psychology grad out of UChicago who built systems at Capital One before Ramp was even a line of code.
Now they’re operating out of 28 West 23rd in Manhattan and slinging fintech power plays out of the Wynwood Arts District in Miami. They don’t just give you a corporate card, they give you a financial ops war room. Expense management, bill pay, procurement, travel, treasury, AI-driven everything. Half their customers use multiple Ramp products. The other half? They’re getting there.
This latest round, led by Founders Fund for the fifth time, no less, had an ensemble cast: Thrive Capital, D1 Capital Partners, GIC, General Catalyst, ICONIQ, Khosla, Stripes, Lux, Sands Capital, 137 Ventures, 8VC, Avenir Growth, Definition Capital. Everyone wants a piece because Ramp isn’t just growing, it’s compounding.
They’re powering $80 billion in annual purchase volume. They’ve helped 40,000 companies claw back $10 billion in spend and 27.5 million hours. Their clients? CBRE, Shopify, Notion, Vercel, Anduril. This isn’t hype. It’s fundamentals, compounded.
And the product? It’s real AI (Ramp Intelligence, powered by GPT-4), pulling vendor pricing, matching receipts, auto-coding expenses, flagging duplicate invoices, and handling contracts like it went to law school and never left.
Ramp’s building for CFOs who think like operators and operators who think like hackers. Their integrations are deep, QuickBooks, NetSuite, Xero, Microsoft Dynamics, Uber for Business, Teams Copilot, and their platform is SOX-ready, multi-entity friendly, and allergic to fees.
