Enterprise expense management platform Ramp announced on Thursday, June 4, 2026, that it had raised $750 million at a valuation of $44 billion, nearly tripling the company’s valuation in one year, as investor interest grows in fintech startups offering an artificial intelligence-related narrative.
The funding round was led by ICONIQ, GIC, and Ontario Teachers’ Pension Plan. New investors also participated, including Goldman Sachs Alternatives, D.E. Shaw & Co., Morgan Stanley Investment Management, Generation Investment Management, Insight Partners, and BroadLight Capital, along with several of Ramp’s existing investors.
Revenue and Customer Growth
Ramp said its annualized revenue run rate currently exceeds $1 billion, noting that it surpassed that level last September. Bloomberg reported that the company’s revenue on this basis now exceeds $1.5 billion. Ramp also announced that it had achieved positive free cash flow and that its customer count had risen to more than 70,000, compared with approximately 50,000 customers last November.
Its customer base includes companies such as Visa, Uber, Shopify, Anduril, and Figma. Ramp initially targeted startups with expense management tools, but it expanded its range of services to include payments, fraud detection, procurement, and vendor management, in addition to accounting more recently.
A Bet on Artificial Intelligence Usage Costs
Ramp is building part of its market proposition around artificial intelligence by providing intelligent agents within its procurement, expense management, accounting, budgeting, and other products. It also launched a corporate credit card specifically intended for use by artificial intelligence agents.
CEO Eric Glyman said the company is developing a product that will help companies monitor their consumption of artificial intelligence tokens across different providers, while also creating infrastructure that enables artificial intelligence agents to make payments on behalf of users. Ramp noted in its press release that part of its new growth is also linked to managing spending on tokens.
The move comes as companies increasingly focus on returns from their artificial intelligence investments and on controlling the costs of using its tools. The report said that Uber recently set a cap of $1,500 per employee for the use of artificial intelligence tools after exhausting its entire budget allocated to this area for 2026 in just four months.
Potential Ambition to Go Public
According to Bloomberg, Glyman said that Ramp ultimately aims to offer its shares to the public, without specifying a timeline. The company has increased its total funding raised to date to more than $3 billion.
Ramp competes with Brex, which Capital One acquired this year in a cash-and-stock deal valued at $5.15 billion, and with Rippling, a highly valued startup that offers expense management alongside human resources, information technology, and payroll tools.