Ramp Raises $1.85 Billion at $60 Billion Valuation in New Round

Ramp raised $1.85 billion in a financing round that values the enterprise financial services platform at $60 billion, giving it new capital for AI product development and continued hiring.

Dragoneer Investment Group led the round. Thrive Capital, Founders Fund, Sands Capital and Avenir also co-led the financing.

The new valuation follows a $750 million round at a $44 billion valuation about four months earlier. Ramp plans to develop more products with artificial intelligence features and continue hiring.

The company completed two acquisitions earlier this year and may pursue additional deals. Co-CEO Eric Glyman did not provide a timeline for an initial public offering, but said the new funding brings Ramp closer to its IPO goal.