AI financial operations staartup Ramp announced its Series E-2, raising $500 million at a $22.5 billion valuation. With this round, New York-based Ramp has raised $1.9 billion in total equity financing. The company said it began generating cash flow earlier this year.
ICONIQ led the round, with continued support from existing investors including all participants from the June 2025 Series E: Founders Fund, D1 Capital Partners, GIC, Coatue, Avenir Growth, Thrive Capital, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Altimeter, Definition Capital, 137 Ventures, General Catalyst, and Stripes. New investors for this round include: Sutter Hill Ventures, Lightspeed Ventures, T. Rowe Price Associates, Inc., GV (Google Ventures), Emerson Collective, Operator Collective, and Pinegrove Capital Partners.
“We’re focused on ensuring our only constraint is the scale of our ambition,” said Will Petrie, Chief Financial Officer at Ramp. “We have a fortress balance sheet and an accelerating core business. Both will allow us to play to win as AI reshapes the future of finance.”
Ramp is a financial operations platform designed to save companies time and money by automating tedious, time consuming tasks. Its all-in-one solution combines payments, corporate cards, vendor management, procurement, travel booking, and automated bookkeeping with built-in intelligence to maximize the impact of every dollar and hour spent. Over 40,000 customers, from family farms to space startups, have saved $10 billion and 27.5 million hours with Ramp, according to the company, which was founded in 2019.
