Ramp reaches $60 billion valuation as annualized revenue tops $2 billion. “The end of the beginning”, the founders say.

Ramp announced a $1.85 billion primary financing round led by Dragoneer Investment Group, valuing the company at $60 billion.

Ramp now generates more than $2 billion in annualized revenue¹, with positive cash flow. The company’s revenue is growing 25% faster now than it was at the same time last year. Finally, Ramp’s enterprise business continues to grow, with a 113% year-over-year increase in customers generating over $100,000 in revenue.

“Ramp is the kind of company we love to back at Dragoneer. It’s already a market leader with a deep, durable moat, and it’s still growing incredibly fast,” said Christian Jensen, Partner at Dragoneer. “In just a few years, Ramp has become a much broader financial operations platform, with AI deeply embedded in how the company builds and operates. We believe Ramp is well on its way to becoming one of the defining companies of this era.”

“We first invested in Ramp in 2023 as it was becoming the obvious choice for finance teams. With AI, Ramp’s platform is becoming the obvious choice to automate the entire office of finance,” said Barron Martin, Managing Partner at Sands Capital. “Three years and multiple rounds later, we believe the opportunity is more compelling now than when we first invested, and we’re proud to deepen our partnership with Eric, Karim, and the team.”

Customers get more value from every dollar with Ramp

More than 85,000 companies use Ramp to manage over $275 billion in annualized purchase volume, up 175% year over year. Together, they save more than $1 billion every month. The median customer now saves 7.5%, up from 5% a year ago, and completes transactions with 22% less manual work. That’s 50% more savings on every dollar spent than a year ago, giving customers more money to put back into their businesses.

As Ramp saves customers more time and money, they trust it with more of their financial operations — from paying bills and closing the books to collecting revenue. The majority of customers now use two or more Ramp products, and a quarter use three or more. As AI becomes a bigger part of companies’ spending, Ramp’s opportunity to deliver more value continues to grow.

“At Uber’s scale, small inefficiencies add up,” said Justin Reyhl, Head of Global Travel & Expense at Uber. “We want our people focused on reimagining the way the world moves for the better, and we want every dollar we spend to advance the business. Ramp helps us scale our T&E operations without added layers of work, while keeping the spend under control.”

Ramp helps businesses earn a higher return on intelligence

Ramp has spent seven years helping businesses get more from every dollar. Now it’s bringing that same focus to AI.

Businesses need AI that gets work done — and a way to see what that work costs. Ramp is bringing AI tools and financial controls together so teams can put each dollar and token toward what works, compounding those gains into greater productivity and faster growth.

Recent launches include:

• Glass is a model-agnostic, collaborative AI workspace where knowledge compounds.
• Ramp Accounts Receivable automates the work between a signed contract and collected cash, including invoice creation, payment follow-up, cash application, and revenue recognition.
• AI Token Spend Management gives finance and technical teams one place to understand and control AI spending across providers, teams, models, users, and API keys.
• Router.com cuts companies’ inference costs up to 40% by routing requests based on performance and cost through one endpoint.

“We obsess over saving our customers time and money. That’s why we’re growing faster at more than twice the size we were a year ago,” said Eric Glyman, co-founder and co-CEO of Ramp. “AI opens up much more of the work it takes to run a company. Our opportunity is to get that work done at less cost. We want to help every business run better with AI.”

“Ramp’s Token Spend Management helped us cut monthly AI spend by 17.5%,” said Greg Cooley, Controller at AngelList. “That gives us more room to invest in work that moves the business forward. We want to keep expanding what we do with AI, and Ramp helps us make every dollar count.”

“When you’re building an AI company, the models your engineers can use and the cost of running them directly affect what you can build,” said Alex McLeod, Chief Technology Officer at Serval. “Router gives our team access to models across providers through one API and automatically optimizes costs. For our coding agents, that’s meant cutting inference costs nearly in half—savings we can put back into building.”

Key Company Stats as of October 1, 2026

• Over $2 billion in annualized revenue, with positive cash flow.
• 85,000+ customers, including Visa, Uber, Shopify, Robinhood, Fanatics, Notion, Cursor, The Denver Broncos, and The Boys and Girls Club.
• Over $275 billion in annualized purchase volume.*
• Median customer: 7.5% savings and 16% revenue growth in their first year.

With this round, Ramp has raised approximately $5 billion in total equity financing.

“This year, we built Stack for faster closes. Accounts Receivable to get you paid. AI Spend Management to measure your return on intelligence. Router to pick the right model. Glass so your team only learns things once. Plus 476 more features. It’s only October.“, said Eric Glyman, Co-Founder & Co-CEO, Ramp.

He added: “We are building a company that helps you build a great company. Chapter 1 was about what we could build. Chapter 2 is about what you can.”

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* Ramp does not include bank transfers or non-monetized payments when calculating Total Purchase Volume.

1 Includes interchange, subscription, interest, and other revenue, and excludes incentives to customers.

More than 85,000 organizations, from family farms and space startups to the Fortune 100, use Ramp to save over $1 billion a month and over a year’s worth of work every hour. The median customer using Ramp achieved 7.5% savings on expenses and 16% revenue growth in their first year. Founded in 2019, Ramp powers over $275 billion in purchases annually.

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