Ramp Hits $60B Valuation Amid Rapid Expansion Into Artificial Intelligence

Expense management platform Ramp has secured $1.85 billion in a new funding round that elevates its valuation to $60 billion. The transaction arrives just four months after the company completed a $750 million financing round that valued the startup at $44 billion. The latest capital injection was co-led by Dragoneer Investment Group, Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth, bringing the total funds raised by the enterprise to approximately $5 billion.

Accelerating Revenue and Customer Growth

Alongside the fresh financing, Ramp reported that its annualized revenue has surpassed $2 billion, marking an increase from the $1.5 billion figure reported in June. The company indicated that its revenue growth rate is operating 25 percent faster than during the same period in the previous year. Furthermore, the firm stated that it now facilitates an annualized purchase volume exceeding $275 billion, representing a 175 percent increase year-over-year.

Ramp expanded its customer base to 85,000 organizations, up from 70,000 customers in June. The growing roster of corporate clients includes major brands such as Visa, Uber, Shopify, Robinhood, Anduril, Notion, Cursor, and Figma. As the startup broadens its offerings beyond core expense tracking into payments, fraud detection, procurement, vendor management, and accounting, it increasingly encounters competition from human resources and payroll software provider Rippling for corporate finance budgets.

Deepening Integration of Artificial Intelligence

The company has increasingly built its operational strategy around artificial intelligence, embedding autonomous agents into accounting, budgeting, procurement, and expense workflows. In addition to releasing a corporate credit card tailored specifically for agent use, Ramp entered the model routing sector to address the growing market for AI inference. This offering provides clients with token usage monitoring and spend management capabilities.

• Ramp launched Glass, a workspace designed to collect and store organizational AI automations, prompts, and employee skills.
• The firm’s early backers include investors who visualize the company evolving beyond standard financial operations.
• Founders Fund and Khosla Ventures backer Keith Rabois noted ambitions for the platform to manage and optimize enterprise artificial intelligence token spending.

Christian Jensen, a partner at Dragoneer, remarked that Ramp has successfully evolved into a broader financial operations platform with artificial intelligence deeply integrated into its product architecture. With total capital raised reaching significant milestones, the enterprise continues to position itself as a central infrastructure provider for modern corporate spending and automated operational workflows.