- Ramp raises $150M at a $7.65B valuation, backed by Khosla Ventures and Founders Fund.
- The spend management startup will use the funds to triple down on AI-driven innovations.
- Ramp plans to continue its acquisition spree to fuel growth.
Big guns join the ramp-age
Spend management startup Ramp has raised another $150 million, co-led by new investor Khosla Ventures and existing backer Founders Fund, at a whopping $7.65 billion valuation.
The latest funding round brings Ramp’s total equity financing to a staggering $1.2 billion.
Sequoia Capital, Greylock, and 8VC are among the new investors hopping on the Ramp bandwagon, joining existing backers like Thrive Capital, General Catalyst, and Sands Capital in fueling Ramp’s growth ambitions.
AI-powered innovation in the driver’s seat
Ramp’s continued emphasis on artificial intelligence (AI) capabilities has caught the eye of investors like Khosla Ventures, an early OpenAI backer.
The funding will be used to “triple down” on AI-driven innovations, automating processes, providing deeper spending insights, and enhancing decision-making capabilities.
With an impressive customer base of over 25,000 companies across various industries, Ramp shows no signs of slowing down its acquisition spree.
Following the recent purchases of Venue and Cohere.io, the company plans to continue exploring strategic acquisitions to fuel its growth trajectory.
