Investors couldn’t get enough of Ramp throughout 2025 and it looks like 2026 could be another banner year of fundraising for the corporate expense management startup. The company is in talks to raise another $750 million at a pre-money valuation of more than $40 billion, according to sources. tell the Wall Street Journal. However, the agreement is not yet final, so the terms could change.
Rampa declined to comment.
In November, Ramp announced that it had raised $300 million at a post-money valuation of $32 billion led by Lightspeed, which also included a takeover bid for employees. The company announced a $500 million Series E-2 at a $22.5 billion valuation led by Iconiq in July, just weeks after its $200 million Series E at a $16 billion valuation led by Founders Fund. It had risen a couple more times by early 2025, each time with another big valuation increase.
Ramp has also been successful in generating revenue. In November, Ramp’s founding CEO Eric Glyman said his company had reached $1 billion in revenue, doubling its revenue in just one year. Glyman has also been evangelizing a vision of AI built into Ramp’s expense management products, with agents that automatically block off-policy purchases, detect fraud, and move funds into interest-bearing investments.
That combination of growth plus AI is apparently irresistible to venture capitalists.
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