Ramp, a financial operations platform, announced that new and existing investors, including Stripes, GIC, Avenir Growth, and Thrive Capital, have acquired $150 million in company secondaries from employees and early investors. This transaction most recently valued Ramp at $13 billion. The company's expansion into a full financial operations platform has driven significant growth, now processing more than $55 billion in annualized payment volume, a substantial increase from $10 billion in early 2023.
Ramp has introduced new product lines, including procurement, travel, and treasury, and launched the Ramp App Center with over 200 integrations. More than 30 percent of new customer cohorts have adopted Ramp Plus, the company’s premium software tier. AI-driven automation has streamlined financial tasks, enabling businesses to focus on strategic goals rather than administrative work. Ramp has automated financial procedures to save companies including Poshmark, Barry’s, and Boys & Girls Club of America more than $2 billion and 20 million hours, making it a crucial tool for finance departments. With plans to expand AI capabilities and introduce new products in 2025, Ramp continues to refine its platform to simplify financial management for its 30,000 customers.
