NEW YORK, June 18, 2025 — Ramp announced Tuesday it has raised $200 million in a Series E funding round, lifting the New York-based startup’s post-money valuation to $16 billion. The round was led by Founders Fund, already the company’s largest investor.

The new valuation marks a striking $3 billion increase from just three months ago, when Ramp completed a $150 million secondary share sale at a $13 billion valuation. It also more than doubles the $7.65 billion valuation the company reached in early 2023 after closing a $150 million primary funding round.

Ramp, founded in 2019, offers software and corporate cards designed to help businesses manage spending, streamline procurement, and control employee expenses. Its platform has gained traction among startups and enterprises looking to replace fragmented back-office workflows with unified tools.

Eric Glyman, co-founder and CEO of Ramp, did not disclose current revenue figures but emphasized earlier this year that growth has been “incredible” compared with previously published numbers. In mid-2023, he confirmed the company had surpassed $300 million in annualized revenue.

Despite the broader slowdown in private tech funding, Ramp’s sharp rise in valuation reflects investor appetite for financial infrastructure companies with strong recurring revenue and adoption across sectors. Founders Fund’s continued commitment, alongside a roster of returning investors, underscores that momentum.

Other participants in the Series E include Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital.

The company has not yet detailed how it plans to use the new capital, though analysts suggest Ramp may expand its enterprise offerings, pursue acquisitions, or deepen its automation capabilities in response to rising demand from CFO teams under pressure to reduce operational costs.

Ramp’s funding round comes at a time when fintechs are under growing scrutiny for profitability and resilience. While valuations for many private companies have stagnated or dropped, Ramp’s trajectory suggests it has bucked that trend by delivering strong metrics and building investor trust.