Ramp

Ramp was founded in 2019 by Eric Glyman, Karim Atiyeh and Gene Lee. In a company retrospective, Glyman dated its initial development to March 2019. Ramp onboarded its first customer that August and launched publicly in February 2020. Its early product combined corporate cards with spend-management software, collecting and organizing expenses at payment and helping customers identify potential savings.⁠[1][2]

Before Ramp, members of the team had worked on the price-tracking service Paribus. Glyman and Atiyeh launched it in 2015 and later sold it to Capital OneCapital OneCapital One Financial Corporation is a diversified financial services holding company headquartered in McLean, Virginia, with Credit Card, Consumer Banking and Commercial Banking segments; since completing its acquisition of Discover in 2025 it has owned the Discover, PULSE and Diners Club International networks, and its stock is listed on the New York Stock Exchange.Open the full entry. A 2021 company retrospective connected that experience with Ramp’s focus on helping customers reduce spending.⁠[1]

On August 8, 2019, TechCrunchTechCrunchTechCrunch is an American technology news outlet founded in 2005 by Michael Arrington and Keith Teare and headquartered in San Francisco; it mainly covers technology companies, startups, and venture capital, and hosts events such as TechCrunch Disrupt. Its ownership passed successively through AOL, Verizon, and Yahoo, and in 2025 Regent announced its acquisition.Open the full entry disclosed that Ramp Financial, led by Eric Glyman and Karim Atiyeh, had raised $7 million from Keith RaboisKeith RaboisKeith Rabois is an investor and entrepreneur who serves as a Managing Director at Khosla Ventures and Chairman of Opendoor. He held management roles at PayPal, LinkedIn, Slide, and Square, later worked in venture capital at Khosla Ventures and Founders Fund, and co-founded Opendoor and OpenStore. His public career spans payments, professional networking, real estate transactions, e-commerce, and venture investing, and he has expressed views on team management, delegation, and vertical integration.Open the full entry of Founders FundFounders FundFounders Fund is a venture capital firm founded in San Francisco in 2005 by Peter Thiel and his former PayPal colleagues Ken Howery and Luke Nosek. Run by partners who were entrepreneurs themselves, it argues that founders should keep more control and is known for betting on difficult technology projects in areas such as space, defense, and artificial intelligence. It was Palantir’s first institutional investor, has invested in SpaceX many times since 2008, and its other notable investments include Facebook, Airbnb, Stripe, and Anduril; as of March 2026 it had raised nine early-stage funds and four growth funds.Open the full entry, Adam Rothenberg of BoxGroup and Coatue ManagementCoatueCoatue is a technology- and innovation-focused investment management firm founded by Philippe Laffont in 1999, operating in both public and private markets. Its current website lists Thomas Laffont as co-founder and chief investment officer of private investments; a Form ADV filed on July 29, 2026, disclosed regulatory assets under management of $92,705,722,582.Open the full entry; the article gave a pre-money valuation of $25 million, which it attributed to unnamed sources. Ramp Financial and the three investors declined to comment at the time.⁠[3]

In April 2021, Ramp announced $115 million in financing with participation from D1 Capital Partners and Stripe, at a $1.6 billion valuation, alongside a $150 million debt-financing arrangement with Goldman SachsGoldman SachsGoldman Sachs is an American financial services group headquartered in New York whose businesses include investment banking, securities trading, asset management, and wealth management. It traces its origins to the commercial paper business Marcus Goldman founded in 1869; it listed on the New York Stock Exchange in 1999 under the ticker GS and became a bank holding company in 2008. David Solomon serves as chairman and chief executive officer.Open the full entry. Its products at this stage remained focused on corporate cards, expense automation and spending reductions.⁠[1]

In August, Ramp announced a $300 million Series C led by Founders Fund at a $3.9 billion valuation and acquired procurement-negotiation company Buyer. By helping customers negotiate with vendors and compare software purchasing prices, Buyer extended Ramp’s business from post-payment expense management to procurement before spending occurred.⁠[4]

In March 2022, Ramp announced $750 million in combined financing, consisting of $200 million in equity and $550 million in debt—two different forms of funding. The announcement listed bill-payment, travel and procurement services, showing that the business had expanded beyond corporate cards.⁠[5]

In August 2023, Ramp announced $300 million in funding at a $5.8 billion post-money valuation, covering spend management, procurement, travel, accounts payable and working capital. Features added that year included more granular approval routing, software-seat usage information, multi-entity management, international payments and accounting integrations. In April 2024, it announced that it was pursuing a $150 million Series D-2 at a $7.65 billion valuation.⁠[6][7]

Ramp’s $150 million round of April 2024, at a $7.65 billion valuation, was co-led by Khosla VenturesKhosla VenturesKhosla Ventures (KV) is an American venture capital firm founded in 2004 by Vinod Khosla, the founding CEO of Sun Microsystems, and headquartered in Menlo Park, California. It made heavy early bets on clean technology, became OpenAI’s first venture capital investor in 2019, and its portfolio also includes companies such as DoorDash, Block (formerly Square), Impossible Foods, and Rocket Lab.Open the full entry and Founders Fund; TechCrunch calls it a Series D.⁠[8]

In July 2025, Ramp announced that it had raised $500 million at a $22.5 billion valuation. It also described its previously introduced AI finance agents: businesses could supply expense policies for the system to help review reimbursement claims, classify transactions, identify anomalies and request necessary information. The announcement discussed a longer-term vision of autonomous finance; those aspirations did not establish that every proposed feature had already shipped.⁠[9]

In March 2025 Ramp carried out a $150 million secondary share sale at a $13 billion valuation.⁠[8]

In mid-June 2025 Ramp announced a $200 million Series E at a $16 billion valuation, led by Founders Fund.⁠[8]

On November 17, 2025, Ramp announced a $300 million round led by LightspeedLightspeed Venture PartnersLightspeed Venture Partners backs companies from seed through late-stage financing. Its website distinguishes Lightspeed Management Company (LSVP) from Lightspeed India Partners (LSIP): the two are separately operated investment advisers, with the U.S., European, and Israeli offices belonging to LSVP and the India and Southeast Asia offices belonging to LSIP.Open the full entry that included an employee tender offer and valued it at $32 billion; by the company’s count this brought total equity financing to $2.3 billion.⁠[8]

In a February 2026 Cheeky PintCheeky PintCheeky Pint is a technology interview podcast produced by Stripe and hosted by Stripe co-founder and president John Collison, launched in June 2025. Conversations take place over a pint, and guests are mostly founders and chief executives of technology companies, including Greg Brockman, Dario Amodei, Satya Nadella, Elon Musk, Sundar Pichai, Mark Zuckerberg and Sam Altman; by October 2026 the show had released 39 episodes.Open the full entry interview, Glyman said corporate cards remained Ramp’s largest revenue source, primarily through interchange fees. Other businesses included paid software, bill payments, treasury, procurement and travel. Software covered advanced features such as multi-entity management and accounting automation, while bill payments involved checks, wires and ACH transfers. His assessment of the non-card share of revenue by year-end was a forecast, not an already realized revenue mix.⁠[10]

In March, Ramp announced its acquisition of Billhop, using its UK and European payments operations as a base for expansion and planning offices in London and Stockholm. The announcement scheduled a rollout to European businesses for that summer; this was the plan at announcement, not evidence of a completed launch throughout Europe.⁠[11]

In April, Ramp described AI agents for procurement, covering intake, vendor research, quotation organization, contracts and approval coordination. Its procurement help documentation describes employees submitting requests, policy-based approval routing, purchase-order creation after approval, and matching invoices or card spending to those orders. The procurement module requires a separate add-on subscription.⁠[12][13]

Ramp’s official press page included coverage of a June 2026 $750 million financing round at a $44 billion valuation. On June 25, Glyman announced that co-founder Karim Atiyeh would become co-CEO alongside him; Rahul Sengottuvelu was also appointed chief technology officer. Glyman said Atiyeh had long participated in risk, operations and marketing, and that the co-CEO arrangement formally recognized his actual responsibilities.⁠[14][15]

Fortune’s profile of July 5, 2026 states that Ramp is the largest advertiser of the podcast host David SenraDavid SenraDavid Senra is the founder and host of the Founders podcast, on which he reads biographies of entrepreneurs to discuss starting and running businesses and making personal decisions. He began producing the show in 2016, partnered with Colossus in 2022, and in 2025 launched David Senra, a long-form interview show under his own name.Open the full entry; Senra reviewed Ramp’s podcast budget, which was spread across 35 shows, and advised dropping 32 of them and concentrating on three, and he also pressed Ramp to sponsor TBPN when that show had fewer than 1,000 listeners.⁠[16]

In an interview episode published on September 30, 2026, David Senra said the partnership Ramp struck with him was, at the time, the biggest deal in business podcasts, and that companies have since kept offering to pay double for the same arrangement.⁠[17]

On October 13, 2026, Ramp launched Glass, an AI workspace. Eric Glyman wrote in a signed post that it grew out of one week in May when Ramp burned $1.5 million in tokens; at launch 323 employees had made more than 6,500 edits to what Glass knows, and every request ran through Ramp Router, which picks the model.⁠[18]

On October 15, 2026, Ramp announced $1.85 billion in primary financing at a $60 billion valuation. Dragoneer Investment Group led the round, with Thrive CapitalThrive CapitalThrive Capital is an investment firm led by chief executive Joshua Kushner that builds and invests in internet, software and technology-enabled companies, with investments including Cursor and Chai Discovery. Kushner is also chief executive of Thrive Holdings, a long-term holding company.Open the full entry, Founders Fund, Sands Capital and Avenir Growth as co-leads and participation from Coatue and others. Ramp said total equity funding reached approximately $5 billion. Its October 1 figures included over $2 billion in annualized revenue, positive cash flow, more than 85,000 customers and over $275 billion in annualized purchase volume. Revenue included interchange, subscriptions, interest and other revenue net of customer incentives; purchase volume excluded bank transfers and non-monetized payments.⁠[19]

On November 6, 2026, Coatue said it had first invested in Ramp in 2020 and participated in its latest financing. It described Ramp’s expansion from corporate cards into financial operations and highlighted AI-related products including Token Spend Management, Router, Glass and Inspect. Coatue reported that policy agents automated 85% of expense reviews; these figures and assessments were presented by an investor.⁠[20]

Ramp connects corporate cards, expense reimbursement, procurement, supplier payments and accounting on one platform, focusing on non-payroll business spending. Its purchase-order functionality links pre-spend approvals with subsequent payments and reconciliation. When consulted in September 2026, the official press page reported more than 70,000 customers, a company-reported figure.⁠[14][13]

Ramp Business Corporation is a financial technology company, not a bank. Its website identifies Celtic Bank, Column, Sutton Bank and Lead Bank among issuers of its different US card products. First Internet Bank of Indiana provides banking deposit services. Investment accounts involve Moment Advisors and Apex Clearing; the website distinguishes them from deposit products and states that they are not covered by FDIC deposit insurance.⁠[14]