Financial technology company Ramp has secured $1.85 billion in a new funding round, putting its valuation at $60 billion. The company's previous round, completed four months earlier, valued it at $44 billion.
Ramp says its annualized revenue has topped $2 billion, while annualized purchase volume has surpassed $275 billion. It now serves 85,000 customers, including Visa, Uber, Shopify and Figma.
From expense tools to AI-powered finance
The company has broadened its platform beyond expense management to include payments, procurement, accounting, vendor management and fraud detection. It is also building AI into products for tasks such as budgeting, purchasing and financial operations.
Ramp's AI initiatives include a corporate card designed for AI agents, a service that routes requests between AI models, and tools to monitor and manage spending on AI models. Its recently introduced Glass workspace helps teams share and reuse workplace automations, prompts and skills.
The latest investment brings Ramp's total funding to about $5 billion. The company says it plans to keep developing products that connect financial management with AI capabilities. As these tools become more integrated into business operations, companies may gain new ways to track costs and apply organizational knowledge at scale.
