Investors were enthusiastic about Ramp throughout 2025, and 2026 could also be a significant year for the corporate spend management startup. The company is in discussions to raise another $750 million at a pre-money valuation exceeding $40 billion, according to sources cited by the Wall Street Journal. However, the deal is not finalized, and terms may change.
Ramp declined to provide a comment.
In November, Ramp announced a $300 million raise at a $32 billion post-money valuation led by Lightspeed, which included an employee tender offer. Previously, in July, the company announced a $500 million Series E-2 at a $22.5 billion valuation led by Iconiq, shortly after its $200 million Series E at a $16 billion valuation led by Founders Fund. Earlier in 2025, it had other fundraising rounds, each time achieving a higher valuation.
Ramp has also seen success in generating revenue. In November, founder and CEO Eric Glyman stated that the company had reached $1 billion in revenue, doubling its income in one year. Glyman has been advocating for a vision of AI integrated throughout Ramp’s spend management products, with features that automatically block unauthorized purchases, detect fraud, and allocate funds to interest-bearing investments.
This combination of growth and AI appears to be highly attractive to venture capitalists.