Spend management startup Ramp announced on Tuesday that it has secured $200 million in a Series E funding round, led by its largest existing investor, Founders Fund. With this current financing, the company’s valuation has soared to $16 billion, reflecting a remarkable increase of $3 billion from the $13 billion valuation it attained just three months ago after a secondary share sale of $150 million in March.
This latest valuation more than doubles its previous record of $7.65 billion from a funding round completed a little more than a year ago, when Ramp raised $150 million.
Ramp CEO Eric Glyman has not provided specific updated revenue figures with this announcement. However, in March, he described the company’s revenue as experiencing significant growth compared to the previously reported $300 million in annualized revenue that Ramp had disclosed in mid-2023.
Alongside Founders Fund, the Series E round attracted participation from a notable roster of existing investors, including Thrive Capital, General Catalyst, D1 Capital Partners, GIC, ICONIQ Growth, Sands Capital, Khosla Ventures, 8VC, Lux Capital, Stripes, Definition Capital, 137 Ventures, and Avenir Growth.
