Ramp Hits $22.5B Valuation Just 45 Days After Reaching $16B
Ramp, the financial operations platform, announced its Series E-2 funding round on July 30, 2025, raising $500 million at a $22.5 billion valuation. ICONIQ led the round with participation from existing investors including Founders Fund, D1 Capital Partners, GIC, Coatue, Avenir Growth, Thrive Capital, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Altimeter, Definition Capital, 137 Ventures, General Catalyst, and Stripes.
New investors in this round include Sutter Hill Ventures, Lightspeed Ventures, T. Rowe Price Associates, GV, Emerson Collective, Operator Collective, and Pinegrove Capital Partners. This latest funding brings Ramp's total equity financing to $1.9 billion since its founding in 2019.
The rapid valuation increase represents a significant milestone for the New York-based company, which reached a $16 billion valuation just 45 days earlier in June 2025 when it raised $200 million in its Series E round led by Founders Fund. The 40.6% valuation jump in under two months signals strong investor confidence in Ramp's AI-powered financial automation platform, which serves over 40,000 companies including CBRE, Shopify, Anduril, and Notion. The company plans to use the new capital to accelerate its AI agent rollout and autonomous finance solutions, having recently launched its first AI agents for controllers to automatically enforce company expense policies. Ramp has generated cash flow earlier this year and exceeded $1 billion in assets under management for Ramp Treasury, less than six months after launch.
