Ramp

Ramp provides corporate charge cards together with software for expense management, bill payments, procurement and accounting automation, sold to businesses from startups to large enterprises. Eric Glyman (CEO), Karim Atiyeh (CTO) and Gene Lee founded the company in New York in March 2019. Glyman and Atiyeh had previously built Paribus, a price tracking app acquired by Capital One in 2016. Ramp formally launched in February 2020 and is headquartered in New York City.

Ramp raised an $8 million seed round in August 2019 and a $15 million Series A in February 2020 led by Founders Fund. D1 Capital and Coatue led a $30 million follow on announced in December 2020. A $115 million Series B in April 2021 valued the company at $1.6 billion. Founders Fund led a $300 million Series C in August 2021 at $3.9 billion, with Redpoint, D1, Coatue, Spark Capital, Stripe, BoxGroup, Lux Capital, ICONIQ, Altimeter and others. Ramp was valued at $8.1 billion in March 2022, then raised a $300 million Series D in August 2023 at a lower $5.8 billion valuation. Khosla Ventures and Founders Fund co-led a $150 million Series D-2 in 2024 at $7.65 billion. Valuations then rose quickly: $13 billion in March 2025, $16 billion in a Founders Fund led deal in June 2025, $22.5 billion in July 2025, and $32 billion in a $300 million round led by Lightspeed Venture Partners in November 2025. In June 2026 ICONIQ, GIC and Ontario Teachers' Pension Plan led $750 million at $44 billion, with Goldman Sachs Alternatives, D.E. Shaw, Morgan Stanley Investment Management, Generation Investment Management, Insight Partners and BroadLight Capital.

Ramp remains private. It reported about $100 million in annualized revenue in early 2022 and about $300 million by 2024. At the June 2026 raise it reported more than $1 billion in annualized revenue and more than 70,000 customers, up from 50,000 the previous November, including Visa, Uber, Shopify, Anduril and Figma. Total capital raised exceeds $3 billion.

Ramp shows both sides of the 2021 to 2026 cycle. Its 2023 Series D priced below the 2022 mark, a down round taken while revenue kept growing, and within three years the valuation rose more than sevenfold. Founders Fund entered at the Series A and led or co-led several later rounds, which concentrated its exposure in the company. No IPO or sale has occurred, so returns for these investors remain unrealized.