Fintech Ramp's valuation hits $16 billion in deal led by Peter Thiel's Founders Fund
The $200 million round is the fifth that Founders' has led for Ramp and raised its valuation by $3 billion. It last raised money at a $13 billion valuation in March.
Founded in 2019, Ramp offers services that cover corporate cards, procurement, bookkeeping, travel booking, and vendor management, and says it handles tens of billions in purchases annually across 40,000 companies.
Ramp ranked No. 6 on the 2025 CNBC Disruptor 50 list.
Its list of clients includes CBRE, Shopify and two fellow 2025 CNBC Disruptor 50 companies, Anduril and Notion (Founders Fund is also an investor in Anduril).
Ramp has been increasing its offerings for enterprise companies. In January, it launched Ramp Treasury, which allows companies to earn 2.5% on idle operating cash. It also acquired Venue, an AI-powered procurement software startup, and used it to roll out new vendor payment tools. Last June, it debuted Ramp Travel, partnering with Priceline for booking and managing expenses for corporate travel, moving into the market of fellow Disruptor Navan.
The company says it has shipped 270 features this year, with a focus on increased automation of financial operations and use of AI, and still serves only 1.5% of the addressable U.S. market.
Ramp co-founder and CEO Eric Glyman wrote in a blog post about the fundraising that he is guided by his favorite companies' missions: "Increase the GDP of the internet (ten-time Disruptor Stripe); Make humanity a multiplanetary species (SpaceX); Be Earth's most customer-obsessed company (Amazon)."
"Ours can fit on a Post-it too," he wrote. "Save your company time and money (without you noticing)."
"Let the robots chase receipts and close your books, so you can use your brain and build things," he added.
Additional investors in the round included Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital.
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