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Spend management startup Ramp recently announced a $200 million Series E funding round led by Founders Fund, increasing its post-money valuation to $16 billion. This remarkable jump of $3 billion from the previous $13 billion valuation in March showcases the company’s rapid growth.
Valuation Growth
Ramp’s current valuation is now more than double the $7.65 billion post-money valuation it had just over a year ago. CEO Eric Glyman has not disclosed specific revenue figures, but hinted at significant growth since their last report. In 2023, Ramp surpassed $300 million in annualized revenue.
Investors
Various venture capital firms, including existing investors like Thrive Capital, D1 Capital Partners, and General Catalyst, participated in the Series E round. The impressive list of investors also includes GIC, ICONIQ Growth, Khosla Ventures, and others who believe in Ramp’s potential for continued success.
