HISTORICAL P100 / #23

Ramp

Fintech / Corporate Cards · United States

Historical ranking valuation$16.0BSource snapshot: Jun 19, 2026

Disclosed primary funding in this record

$2.7B

Sum of non-overlapping disclosed USD amounts in confirmed primary financing entries in this record, including separately labeled equity components; not verified lifetime funding. Excludes amounts already included in a later round, announced, reported, database-only, debt, secondary and unclassified events.

9 confirmed primary rounds with disclosed USD amounts · Record through 2026-11-01

THE BUSINESS

Get to know Ramp.

Ramp provides a financial-operations platform for corporate cards, expenses, bill payments, procurement and accounting automation. Finance teams use its controls and workflows to manage company spending.

Ramp product catalog ↗Source checked Sep 24, 2026

Valuation history

Valuations reported at the time of each round.

Jun 4, 2026$44BSeries F · ConfirmedSource ↗

Nov 17, 2025$32BNovember primary financing (series label not stated) · ConfirmedSource ↗

Nov 17, 2025$32B transaction markEmployee tender alongside November financing · ConfirmedSource ↗

Jul 30, 2025$22.5BAdditional 2025 primary financing (series label not stated by issuer) · ConfirmedSource ↗

Jun 17, 2025$16BSeries E · ConfirmedSource ↗

Mar 3, 2025$13B transaction valuationEmployee and early-investor secondary sale · ConfirmedSource ↗

Apr 16, 2024$7.65BSeries D-2 · AnnouncedSource ↗

Aug 21, 2023$5.8B post-money2023 primary financing (series label not stated by issuer) · ConfirmedSource ↗

Mar 21, 2022$8.1BAdditional 2022 equity financing (series label not stated by issuer) · ConfirmedSource ↗

Mar 21, 2022$8.1B package valuationDebt financing alongside 2022 equity raise · ConfirmedSource ↗

Aug 24, 2021$3.9BSeries C · ConfirmedSource ↗

Apr 8, 2021$1.6BSeries B · ConfirmedSource ↗

Aug 8, 2019$25M pre-money reportedSeed (reported) · ReportedSource ↗

Funding history

Funding rounds, debt and other financing events.

18sourced events · record as of 2026-11-01

June/July 2025 $200M/$500M raises are separate; November's $300M primary raise excludes an undisclosed employee tender. March 2025's $150M sale was secondary liquidity, not issuer proceeds. February 2020's $25M was funding to date, not a new Series A. Reports identify a $7M 2019 seed and $15M early-2020 raise; a later $8M seed figure conflicts. Ramp announced another $30M in December 2020, with CEO-reported August timing. Older debt remains unreviewed; confirmed primary is not lifetime equity. Headline association; not a reviewed issuer link. Unlinked article observations are not independently reconciled financing events. This is covered public-source history, not an exhaustive issuer ledger.

Oct 15, 2026LATEST SOURCED

other

Ramp confirms $1.85B round and $2B-plus revenue run rate

Investors undisclosed

Amount$1.9BValuationUndisclosed

Oct 9, 202617

rumor

Ramp reportedly raises $1.85B at $60B valuation

Investors undisclosed

Amount$1.9BValuationUndisclosed

Sep 8, 202616

rumor

Ramp reportedly seeks $1B at a $60B valuation

Investors undisclosed

Amount$1BValuationUndisclosed

Jun 4, 202615

primary

Series F

ICONIQ (lead) · GIC (lead) · Ontario Teachers' Pension Plan (lead) · Goldman Sachs Alternatives · D.E. Shaw & Co. · Morgan Stanley Investment Management · Generation Investment Management · Insight Partners · +19 more

Amount$750MValuation$44B

Nov 17, 202514

primary

November primary financing (series label not stated)

Lightspeed Venture Partners (lead) · Founders Fund · D1 Capital · Coatue · Robinhood Ventures · Bessemer Venture Partners · 1789 Capital

Bloomberg reported $300M of new primary financing alongside a separate employee tender. The tender's size was not disclosed and is not counted as company capital. The issuer's own November 19 digest corroborates the primary/tender distinction.

Amount$300MValuation$32B

Nov 17, 202513

secondary

Employee tender alongside November financing

Investors undisclosed

Employee-share liquidity, not new primary capital to Ramp. The amount and participating selling holders were not disclosed in the inspected public report.

AmountUndisclosedValuation$32B transaction mark

Jul 30, 202512

primary

Additional 2025 primary financing (series label not stated by issuer)

Investors undisclosed

Amount$500MValuation$22.5B

Jun 17, 202511

primary

Series E

Founders Fund (lead) · Thrive Capital · D1 Capital Partners · General Catalyst · GIC · ICONIQ Growth · Khosla Ventures · Sands Capital · +6 more

The June 17 release says the round was capped at $200M; Ramp's July 30 co-CEO announcement describes the $200M as raised 45 days earlier.

Amount$200MValuation$16B

Mar 3, 202510

secondary

Employee and early-investor secondary sale

Stripes · GIC · Avenir Growth · Thrive Capital · Khosla Ventures · General Catalyst · Lux Capital · 137 Ventures · +1 more

Ramp says investors purchased $150M of existing shares directly from employees and early investors. The release names buyers as a group, not a lead, per-buyer allocation, specific selling holder or new company capital. March 3 is the release date, not an authenticated settlement date.

Amount$150M existing shares soldValuation$13B transaction valuation

Apr 16, 202409

primary

Series D-2

Khosla Ventures (lead) · Founders Fund (lead) · Sequoia Capital · Greylock · 8VC · Thrive Capital · General Catalyst · Sands Capital · +5 more

The April 16 company statement says it was completing a $150M D-2; no exact close date was established. A database's same-day undisclosed D extension was consolidated as the same apparent event, not added again.

Amount$150MValuation$7.65B

Aug 21, 202308

primary

2023 primary financing (series label not stated by issuer)

Thrive Capital · General Catalyst · Founders Fund · Lux Capital · Definition Capital · Sands Capital

Amount$300MValuation$5.8B post-money

Mar 21, 202207

primary

Additional 2022 equity financing (series label not stated by issuer)

Founders Fund (lead) · D1 Capital Partners · Thrive Capital · Redpoint Ventures · Coatue Management · ICONIQ · Altimeter · Stripe · +8 more

Only the $200M fresh equity component of the issuer's $750M package is included in the primary-equity subtotal. The other $550M was debt financing, separately listed.

Amount$200MValuation$8.1B

Mar 21, 202206

debt

Debt financing alongside 2022 equity raise

Citi · Goldman Sachs

Secured debt financing, not issuer equity. The inspected release does not establish how much was drawn; $150M of the Goldman Sachs component increased an existing commitment rather than adding a second $300M.

Amount$550M secured debt financing (drawn amount undisclosed)Valuation$8.1B package valuation

Aug 24, 202105

primary

Series C

Founders Fund (lead) · D1 Capital Partners · Thrive Capital · Redpoint Ventures · Coatue Management · Spark Capital · Stripe · BoxGroup · +4 more

Ramp's co-CEO announced the close August 23; the formal company release is dated August 24. This is one Series C, not two.

Amount$300MValuation$3.9B

Apr 8, 202104

primary

Series B

D1 Capital Partners (lead) · Stripe (lead) · Founders Fund · Coatue Management · Thrive Capital · Redpoint Ventures · Box Group · Neo · +1 more

Amount$115MValuation$1.6B

Aug 202003

primary

August 2020 financing (announced December)

D1 Capital Partners · Coatue Management · Founders Fund

Ramp announced $30M from D1 and Coatue, with Founders Fund participation, on December 17. Ramp's CEO told TechCrunch this financing was raised in August 2020 and described its series label as A3-like; the release itself does not establish a formal Series A label. August is month-precision event timing, not a verified close day.

Amount$30MValuationUndisclosed

Feb 202002

primary

Early-2020 financing (reported)

Investors undisclosed

TechCrunch reported a February-2020-era $15M raise. Ramp's February 12 launch release said $25M had been raised to date, not that $25M was fresh Series A capital. The release's broad backer list is not allocated to this reported financing; exact close day, series class and transaction investors remain unverified.

Amount$15M reportedValuationUndisclosed

Aug 8, 201901

primary

Seed (reported)

Keith Rabois (Founders Fund) · Adam Rothenberg (BoxGroup) · Coatue Management

The contemporaneous report says $7M and a reported $25M pre-money valuation, naming these backers without a round lead; Ramp and the cited investors declined comment. A December 2020 TechCrunch account instead called the seed $8M. That discrepancy is unresolved; August 8 is the report date, not an authenticated close day.

Amount$7MValuation$25M pre-money reported

Financing participants

Investors, lenders and other parties named in funding announcements.

ICONIQ

Series F · Jun 4, 2026 · Lead participant · primary · Confirmed · Confirmed source ↗

Additional 2022 equity financing (series label not stated by issuer) · Mar 21, 2022 · Participant · primary · Confirmed · Confirmed source ↗

GIC

Series F · Jun 4, 2026 · Lead participant · primary · Confirmed · Confirmed source ↗

Series E · Jun 17, 2025 · Participant · primary · Confirmed · Confirmed source ↗

Employee and early-investor secondary sale · Mar 3, 2025 · Participant · secondary · Confirmed · Confirmed source ↗

Ontario Teachers' Pension Plan

Series F · Jun 4, 2026 · Lead participant · primary · Confirmed · Confirmed source ↗

Goldman Sachs Alternatives

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

D.E. Shaw & Co.

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

Morgan Stanley Investment Management

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

Generation Investment Management

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

Insight Partners

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

BroadLight Capital

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

Founders Fund

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

November primary financing (series label not stated) · Nov 17, 2025 · Participant · primary · Confirmed · Confirmed source ↗

Series E · Jun 17, 2025 · Lead participant · primary · Confirmed · Confirmed source ↗

Series D-2 · Apr 16, 2024 · Lead participant · primary · Announced · Announced source ↗

2023 primary financing (series label not stated by issuer) · Aug 21, 2023 · Participant · primary · Confirmed · Confirmed source ↗

Additional 2022 equity financing (series label not stated by issuer) · Mar 21, 2022 · Lead participant · primary · Confirmed · Confirmed source ↗

Series C · Aug 24, 2021 · Lead participant · primary · Confirmed · Confirmed source ↗

Series B · Apr 8, 2021 · Participant · primary · Confirmed · Confirmed source ↗

August 2020 financing (announced December) · Aug 2020 · Participant · primary · Confirmed · Confirmed source ↗

Lightspeed Venture Partners

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

November primary financing (series label not stated) · Nov 17, 2025 · Lead participant · primary · Confirmed · Confirmed source ↗

D1 Capital Partners

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

Series E · Jun 17, 2025 · Participant · primary · Confirmed · Confirmed source ↗

Series D-2 · Apr 16, 2024 · Participant · primary · Announced · Announced source ↗

Additional 2022 equity financing (series label not stated by issuer) · Mar 21, 2022 · Participant · primary · Confirmed · Confirmed source ↗

Series C · Aug 24, 2021 · Participant · primary · Confirmed · Confirmed source ↗

Series B · Apr 8, 2021 · Lead participant · primary · Confirmed · Confirmed source ↗

August 2020 financing (announced December) · Aug 2020 · Participant · primary · Confirmed · Confirmed source ↗

T. Rowe Price

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

General Catalyst

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

Series E · Jun 17, 2025 · Participant · primary · Confirmed · Confirmed source ↗

Employee and early-investor secondary sale · Mar 3, 2025 · Participant · secondary · Confirmed · Confirmed source ↗

Series D-2 · Apr 16, 2024 · Participant · primary · Announced · Announced source ↗

2023 primary financing (series label not stated by issuer) · Aug 21, 2023 · Participant · primary · Confirmed · Confirmed source ↗

Additional 2022 equity financing (series label not stated by issuer) · Mar 21, 2022 · Participant · primary · Confirmed · Confirmed source ↗

Alpha Wave Global

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

137 Ventures

Series F · Jun 4, 2026 · Participant · primary · Confirmed · Confirmed source ↗

Series E · Jun 17, 2025 · Participant · primary · Confirmed · Confirmed source ↗

Employee and early-investor secondary sale · Mar 3, 2025 · Participant · secondary · Confirmed · Confirmed source ↗

Additional 2022 equity financing (series label not stated by issuer) · Mar 21, 2022 · Participant · primary · Confirmed · Confirmed source ↗

Thrive Capital