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Ramp raises USD 150 million to accelerate AI integration and expansion; valuation grows to USD 7.65 billion

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Apr 17, 2024

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Apr 17, 2024

Ramp raises USD 150 million to accelerate AI integration and expansion; valuation grows to USD 7.65 billion

Funding

Ramp, a company providing diverse business expense and payout management solutions, raised USD 150 million in an extension to its Series D round. The round was co-led by new investor Khosla Ventures and existing investor Founders Fund, featuring participation from Sequoia Capital, Greylock, 8VC, and others.
The funding is set to be invested in technological innovation within the company, particularly to expand its use of AI. The funds will also back potential acquisitions.
Following the latest funding round, the firm was valued at USD 7.65 billion compared to the USD 5.8 billion valuation it received at its last funding round in August 2023 .
Analyst QuickTake: The latest funding round brings Ramp’s valuation closer to the USD 8.1 billion valuation it had previously achieved during its series C funding round in March 2022. Similar to its acquistion of Venue following its last funding round in August 2023, the firm may pursue inorganic growth to accelerate its expansion.

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