Ramp Raises $1.85 Billion at $60 Billion Valuation as AI-Powered Finance Tools Drive Growth

Expense management startup Ramp raised $1.85 billion in a new funding round in October 2026, pushing its valuation to $60 billion just four months after a previous round valued the company at $44 billion.

The round was co-led by Dragoneer Investment Group, Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth. Other participants included Fidelity Management and Research Company, T. Rowe Price, D1 Capital Partners, Greenoaks, ICONIQ, GIC, Coatue, General Catalyst, and Lightspeed Venture Partners. Ramp has now raised approximately $5 billion in total funding.

The company reported that its annualized revenue has exceeded $2 billion, up from $1.5 billion in June 2026. Revenue growth is running 25 percent faster than the same period in 2025. Ramp processes an annualized purchase volume of over $275 billion, a 175 percent increase year over year, and serves 85,000 customers including Visa, Uber, Shopify, Robinhood, Notion, and Figma.

Ramp started as a corporate card and expense management platform but has expanded into procurement, vendor management, payments, fraud detection, and accounting. The company has embedded AI agents throughout its products and launched a tool called "Glass," a workspace for managing AI automations and company financial knowledge.

The company also introduced a corporate credit card designed specifically for AI agents and a model routing service to help clients manage token spend.

Ramp increasingly competes with HR and payroll software provider Rippling for finance-team budgets. Leadership has also signaled that the company views itself in long-term competition with major AI platforms.

The $60 billion valuation makes Ramp one of the most valuable private fintech companies in the United States. The company has not announced plans for a public offering.