Ramp Startup Raises $1.85 Billion in Funding Round

On Thursday, financial tech startup Ramp said it closed a $1.85 billion funding round led by Dragoneer Investment Group. This makes the company a $60 billion business as it works to enhance and accelerate its AI capabilities.

The round was led by Founders Fund, Sands Capital, Thrive Capital, and Avenir Growth. Additional investors that participated in the round include Fidelity Management & Research Company, T. Rowe Price, GIC, and Coatue.

The fact that financial institutions are ready to lend money for this investment suggests more companies will automate their finances. With it, technology companies will automate their own expenses, invoicing, and accounting.

That’s a big leap from June 2026, when the company was valued at $44 billion following a $750 million funding round.

It is a tool for managing small business expenses and company cards. It earns more than $2 billion a year and is profitable.

Ramp has worked with over 85,000 businesses, which together spend more than $275 billion a year using its services—a massive 175% increase from the previous year. 

It has planned to expand its AI tools, including software to monitor AI expenses and calculate the cost of running AI models. 

Ramp has given this statement officially stated that it has raised approximately $5 billion in total equity financing, including the latest round. 

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Eric Glyman, Karim Atiyeh, and Gene Lee founded Ramp in March 2019. The company offers corporate charge cards, expense management, and bill-payment software. 

The company partnered with Sutton Bank and Celtic Bank to issue its Visa cards and generate revenue from merchant transaction fees and other services. It is known for its app and dashboard, which automate tasks such as receipt capture and invoice processing.