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Funding
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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