Ramp, a New York-based spend management startup, has raised $150 million in Series D-2 funding at a post-money valuation of $7.65 billion.
Investors
Khosla Ventures and Founders Fund co-led the round. Other participants included Sequoia Capital, Greylock, 8VC, Thrive Capital, General Catalyst, Sands Capital, D1 Capital, Lux Capital, Iconiq Capital, Definition Capital, and Contrary Capital.
Founded in 2004, Khosla Ventures is a venture capital firm based in Menlo Park, California. The firm provides venture assistance to entrepreneurs in AI, sustainability, enterprise, consumer, health, and frontier technologies.
Founders Fund is a San Francisco-based venture capital firm investing in companies building revolutionary technologies. The firm now has over $12 billion in assets under management and invests across all stages, sectors, and geographies.
Ramp Use of Funds
The company intends to use the funds for acquisitions to expand its offerings. Ramp aims to continue expanding its procurement offering and further develop its spend management solutions.
About Ramp
Founded in 2019, Ramp is a company that provides a finance automation platform – from corporate cards and expense management software to bill payments and accounting integrations – designed to save businesses time and money. With over 25,000 companies across various industries as customers, the company is on a mission to help finance teams build healthier businesses. Ramp is headquartered in New York, NY, and currently has about 730 full-time employees.
Funding Details
Company: Ramp Business Corporation
Raised: $150.0M
Round: Series D-2
Funding Month: April 2024
Lead Investors: Khosla Ventures, Founders Fund
Additional Investors: Sequoia Capital, Greylock, 8VC, Thrive Capital, General Catalyst, Sands Capital, D1 Capital, Lux Capital, Iconiq Capital, Definition Capital, Contrary Capital
Company Website: https://ramp.com/
Software Category: Finance
Source: https://techcrunch.com/2024/04/17/ramp-raises-another-150-million-co-led-by-khosla-founders-fund-at-a-7-65b-valuation/