Ramp Valued at $13 Billion in Secondary Share Sale

Financial operations platform Ramp said in a Monday (March 3) press release that the company was valued at $13 billion when new and existing investors purchased Ramp secondaries from employees and investors.

Ramp was valued at $7.6 billion in April when it wound down a $150 million Series D-2 funding round.

The company said in its Monday press release that the annualized payment volume it powers across card transactions and bill payments rose from $10 billion in January 2023 to $55 billion today.

“Every product we build, every feature we launch, is focused on eliminating financial waste and busywork so companies can run more profitably,” Ramp Co-founder and CEO Eric Glyman said in the release. “AI is fundamentally changing how businesses operate, and we’re ensuring our customers are at the forefront of this transformation.”

Ramp launched with a corporate card in 2019 and has since added expense management, bill payments, procurement, travel booking and treasury, according to the release.

The company added three of those product lines — Ramp Procurement, Ramp Travel and Ramp Treasury — since January 2024, the release said. It also introduced the Ramp App Center, which includes more than 200 integrations from 75 technology partners.

Today, Ramp serves more than 30,000 U.S. businesses, with more than half of them using more than one of the company’s products, per the release.

In 2025, the company plans to accelerate its product development, expand its AI capabilities and launch new product lines, according to the release.

Kareem Zaki, partner at Thrive Capital, one of Ramp’s investors, said in the release that Ramp has been turning technological breakthroughs into tangible value.

“Ramp has been quietly doing this since day one — taking processes that used to take hours and reducing them to seconds, all with the goal of helping businesses run more efficiently and profitably,” Zaki said.

When announcing the launch of Ramp Treasury in January, the company said this treasury solution allows businesses to earn 35 times more on their operating cash in a Ramp Business Account than the national average or potentially earn higher yields in an investment account.

In January 2024, Ramp acquired procurement startup Venue, saying the move expanded Ramp’s procurement capabilities and its ability to tackle inefficiencies across the entire financial tech stack.

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