Ramp in talks to hit $40B+ valuation, 6 months after reaching $32B

In Brief

Investors could not get capable of Ramp passim 2025 and it looks similar 2026 could beryllium different banner twelvemonth of fundraising for the firm walk absorption startup. The institution is successful talks to rise different $750 cardinal astatine a pre-money valuation of much than $40 billion, sources tell the Wall Street Journal. The woody is not yet last though, truthful presumption could change.

Ramp declined to comment.

In November, Ramp announced it had raised $300 cardinal astatine a $32 cardinal post-money valuation led by Lightspeed, which besides included an worker tender offer. The institution announced successful July a $500 cardinal Series E-2 astatine a $22.5 cardinal valuation led by Iconiq, which was conscionable a fewer weeks aft its $200 cardinal Series E astatine a $16 cardinal valuation led by Founders Fund. It had raised a mates of different times earlier successful 2025, each clip different large valuation measurement up.

Ramp has besides had occurrence generating revenue. In November, Ramp laminitis CEO Eric Glyman said his institution had reached $1 cardinal successful revenue, doubling its income successful conscionable a year. Glyman has besides been evangelizing a imaginativeness of AI embedded passim Ramp’s walk absorption products, with agents that automatically artifact out-of-policy purchases, observe fraud, and determination funds to involvement bearing investments.

That combo of maturation positive AI is, apparently, irresistible to VCs.

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