Ramp, the New York-based financial operations platform, has raised $300 million in a funding round led by Lightspeed, increasing its valuation to $32 billion.
This follows a $22.5 billion valuation in July 2025, showing the rapid growth of Ramp’s business in corporate finance operations. The round included both a primary investment and an employee tender offer.
Ramp offers corporate credit cards, expense management, purchase order software, and corporate travel management. Its platform helps companies manage spending and reduce administrative workload by automating key financial processes. The company serves more than 50,000 customers and recently reported surpassing $1 billion in annualized revenue, showing steady expansion in both scale and client adoption.
Rapid Valuation Growth
Ramp’s rise in valuation over 2025 has been fast and consistent. In March, a $150 million secondary share sale valued the company at $13 billion. That was followed by a $200 million Series E led by Founders Fund at $16 billion in June and a $500 million Series E-2 led by Iconiq at $22.5 billion in July. The latest $300 million raise led by Lightspeed brings the valuation to $32 billion, bringing total equity funding to roughly $2.3 billion since its founding.
CEO Eric Glyman said, “Our goal is to make every customer more profitable.” He also emphasized Ramp’s operational impact: “On average, companies that switch to Ramp spend 5% less and grow 12% faster … The most disciplined and fastest-growing teams choose Ramp because it helps them scale more efficiently.”
The employee tender offer provided team members with the option to sell shares, showing internal confidence in the company’s growth and stability. Investors have pointed to Ramp’s rapid revenue gains and expanding customer base as key factors behind the round.
Business Model and Financial Trajectory
Ramp’s platform combines multiple financial management tools in one system. Corporate cards, expense management, purchase orders, and travel management operate under a single interface, helping finance teams save time and reduce errors. The company also uses automation to handle approvals and enforce spending policies, allowing teams to focus on higher-value work rather than manual processing.
Revenue growth has accelerated over the past year. In October 2025, Ramp reported crossing $1 billion in annualized revenue, up from approximately $700 million earlier in the year. Its client roster now exceeds 50,000 organizations, including small businesses and large enterprises. These metrics indicate strong adoption across different company sizes and industries.
The platform also allows customers to track and manage expenses more efficiently. Ramp states that its tools recover millions of hours of administrative work and save billions of dollars in corporate spend, offering measurable efficiency improvements for its users.
Differentiation in the FinOps Space
Ramp distinguishes itself from other spend-management platforms such as Brex and Airbase by offering a deeper integration of financial workflows. While competitors provide cards and expense management, Ramp combines these features with purchase order and travel management, along with automated approvals and policy enforcement. This level of integration simplifies daily financial operations for teams, reducing errors and manual work.
The company describes the financial operations space as largely untapped. Even with its $32 billion valuation, Ramp has captured only a fraction of the addressable market for corporate spend management. Analysts note that the combination of automation, unified tools, and a growing customer base positions the company as a leading platform for managing corporate finances efficiently.
