Top Qs
Timeline
Chat
Perspective
Ramp (company)
American financial technology company From Wikipedia, the free encyclopedia
Remove ads
Ramp Business Corporation is a Manhattan-based multinational financial technology company that offers corporate charge cards, expense management, and bill-payment software.[2] The company is headquartered in the Flatiron District of New York City with additional offices in Miami and San Francisco.[3]
As of March 2025, Ramp was valued at $13 billion and processing $55 billion in payments annually.[4] Investors in the company include Thrive Capital, Goldman Sachs, Peter Thiel of Founders Fund, Keith Rabois of Khosla Ventures, Redpoint Ventures, 137 Ventures, BoxGroup, D1 Capital Partners, Contrary, and 8VC, among others.[5][6][7][8][9]
Remove ads
History
Summarize
Perspective
2019-2022: Founding and seed round
Ramp was founded in March 2019 by Eric Glyman, Karim Atiyeh, and Gene Lee. Glyman and Atiyeh met as classmates at Harvard University and had previously founded price tracking app Paribus, which was acquired by Capital One in 2016.[10]
Glyman and Atiyeh talked with approximately 100 finance experts before launching Ramp's corporate card, finding that potential clients were unhappy with the inefficiency of existing methods for collecting receipts and logging expenses.[11]
The company was formally launched in February 2020,[12] and reached $100 million in annualized revenue by early 2022.[2]
2024-present: Series E funding round
As of 2024, Ramp had reached $300 million in annualized revenue[13] with more than 25,000 businesses on its platform.[14] That June, it secured $150 million in a Series D-2 funding round, maintaining its valuation at $7.65 billion. This round was co-led by Khosla Ventures and Founders Fund, among other investors.[15]
In March 2025, Ramp's valuation surged to $13 billion, almost double over a year prior.[4] As of June 2025, Ramp was valued at $16 billion after a Series E funding round.[16] As of July 2025, Ramp was valued at $22.5 billion after its E-2 funding round.[17]
Remove ads
Government relations
In January 2025, Ramp published a blog post titled "The Efficiency Formula" discussing potential applications of its technology to government spending.[18] In March 2025, the General Services Administration announced a pilot program related to the government's SmartPay expense card program, for which Ramp confirmed it was being considered.[19][18] According to reporting by ProPublica, Josh Gruenbaum, the commissioner of the Federal Acquisition Service, helped organize private meetings with the Ramp executives.[9] Scott Amey, the general counsel with the bipartisan watchdog Project on Government Oversight, commented on the situation by saying, “This goes against all the normal contracting safeguards that are set up to prevent contracts from being awarded based on who you know."[9] ProPublica noted that much of Ramp's funding has come from firms with ties to the Trump family or Elon Musk.[9]
Remove ads
References
Wikiwand - on
Seamless Wikipedia browsing. On steroids.
Remove ads