# Ramp

> Source: https://aiwiki.ai/wiki/ramp
> Updated: 2026-06-24
> Categories: AI Companies
> From AI Wiki (https://aiwiki.ai), a free encyclopedia of artificial intelligence. Quote with attribution.

**Ramp** is an American [fintech](/wiki/fintech) company that runs an AI-powered finance and spend-management platform built around a corporate charge card, automating expense categorization, receipt matching, bill payment, procurement, and policy enforcement so that, in the company's framing, software does the finance work instead of people. Founded in 2019 and headquartered in New York City, Ramp has repositioned since 2025 around [AI agents](/wiki/ai_agents) and large language models that code transactions, flag fraud, and process invoices, describing its goal as building "the intelligence layer for finance." On June 4, 2026, Ramp announced a $750 million Series F round at a $44 billion valuation, capping a roughly fivefold rise in about 18 months and making it a flagship example of what investors have called a "fintech with an AI story." [1][2][3]

## Overview

Ramp operates a finance platform built around a corporate charge card paired with software that captures, categorizes, and controls business spending. The core proposition is that the software saves customers money: it surfaces duplicate subscriptions, unused software licenses, out-of-policy purchases, and overspend, and it earns customers cashback and negotiated discounts. Around the card, Ramp has added bill pay and accounts payable, procurement and vendor management, business travel booking, and treasury and cash-management features, so that a single system handles the flow of money into and out of a company. [3][4][5]

Since 2025, Ramp has reoriented this platform around [AI](/wiki/artificial_intelligence) automation, describing its mission as building "the intelligence layer for finance" and positioning AI as the engine that drives savings and removes manual work. As of its June 2026 funding announcement, the company reported more than 70,000 customers, including Visa, Uber, Shopify, Anduril, Figma, Notion, and Cursor, and roughly $200 billion in annualized purchase volume. [2][3]

## When was Ramp founded, and by whom?

Ramp was founded in March 2019 by Eric Glyman, who serves as chief executive officer, Karim Atiyeh, who serves as chief technology officer, and Gene Lee. Glyman and Atiyeh had previously co-founded Paribus, a consumer price-tracking app launched in 2014 that monitored purchases and claimed refunds when prices dropped; Capital One acquired Paribus in 2016. Gene Lee had been a software engineer at Paribus and worked with the pair at Capital One before becoming Ramp's third co-founder. That experience, automating the recovery of money for consumers, informed Ramp's founding thesis of using software to save businesses money rather than encourage them to spend more. The company launched its product publicly in early 2020. [4][6]

From the outset, Ramp differentiated itself from the prevailing rewards-driven corporate card model by emphasizing cost reduction and finance automation. It expanded from charge cards into expense management, then bill pay, procurement, travel, and treasury, building toward an end-to-end finance operations platform. The company is headquartered in New York City, with additional offices including Miami and San Francisco, and by late 2025 it employed roughly 1,200 people. [4][6]

## What does Ramp's platform do?

### Cards and spend management

Ramp's foundational product is a corporate charge card with built-in expense controls. Cards can be issued physically or virtually, with per-card and per-category limits, and transactions are automatically matched to receipts and coded for accounting. The platform offers cashback and discounts on common software purchases, and provides real-time dashboards that highlight savings opportunities such as duplicate subscriptions and unused licenses. Ramp reports that its software saves a median customer meaningful time and money each year by automating expense reporting and enforcing spending policies. [3][4][5]

### Bill pay, procurement, and travel

Beyond cards, Ramp provides accounts payable and bill pay, procurement (including purchase requests, intake workflows, and vendor management), and business travel booking. These modules let finance teams manage approvals, payments, and supplier relationships in one place. In 2026 the company expanded internationally and into adjacent workflows, including acquisitions such as Billhop, a UK and European payments business, and Juno, a guest-travel product. [2][3]

## How does Ramp use AI agents in finance?

Ramp's most prominent recent investment is in [AI agents](/wiki/ai_agent) that automate finance and accounting workflows, marketed under the idea that AI can "do your finance work." On July 10, 2025, the company introduced its first agents, aimed at controllers and powered by Ramp Intelligence running on [OpenAI](/wiki/openai)'s reasoning models. These agents review expenses, flag suspicious receipts and invoices, answer employee policy questions, enforce spending policy at scale, and recommend improvements to company guidelines. Ramp said that finance teams on legacy platforms spend up to 70 percent of their time on tasks like expense review, policy enforcement, and compliance audits, and that early adopters such as Quora saw 99 percent accuracy on expense approvals, measured as transactions the agent recommended for approval that human reviewers also approved. [5][7]

Unlike consumer chatbots, Ramp's agents are integrated directly into customers' financial data and produce citations for their work so that decisions can survive an audit. Co-founder and chief technology officer Karim Atiyeh framed the advantage this way: "Ramp agents have complete knowledge of your accounting rules and expense policies that employees don't carry in their heads, plus instant access to transaction details that finance teams would need time to gather. This lets them act faster and more accurately on every transaction." [7] An early customer, Quora finance manager Richard Gobea, described the shift in workload: "Before Ramp agents, we manually reviewed 100% of transactions. Now, Ramp agents take the first pass and flag what actually needs our attention." [7]

Ramp subsequently extended agents across procurement, accounting, and budgeting. In April 2026 it launched an AI procurement agent that uses natural language to source products and automate supplier onboarding, and it released Ramp Stack, a tool that helps accounting firms prepare financial statements and automate reconciliation. The company has worked with leading [generative AI](/wiki/generative_ai) labs, drawing on [large language models](/wiki/large_language_model) from OpenAI as well as [Anthropic](/wiki/anthropic) and others, and partnered with Visa so that agents can initiate corporate payments while applying real-time controls. [3][5]

## How does Ramp track AI spending?

Ramp has also turned the rise of AI spending into a product. It launched AI Spend Intelligence, which pulls token-level usage data directly from providers such as OpenAI, Anthropic, and Google into the platform so finance teams can see where AI costs are going, and it introduced a corporate card designed for AI agents. The company publishes the Ramp AI Index, a closely watched gauge of business adoption of AI tools derived from its customers' spending data; its May 2026 reading showed Anthropic surpassing OpenAI in business adoption. Ramp has said that average monthly AI token spend across its customers rose roughly thirteenfold from January 2025 onward, underscoring why it treats AI cost as a fast-growing category to manage. [4][8]

## How much is Ramp worth, and how has its valuation grown?

Ramp has raised more than $3 billion in equity financing since its founding, with a valuation that climbed steeply, dipped during the 2022 to 2023 venture downturn, and then rose sharply as the company grew and embraced AI. The 2025 ascent was unusually fast: Ramp reached a $22.5 billion valuation in July 2025 just 45 days after a $16 billion mark in June, then hit $32 billion in November 2025, roughly three months later. Figures below are as reported by the company and press accounts; private valuations are set by negotiation and should be read as point-in-time marks rather than public prices. [1][2][3][11][12]

| Round | Date | Amount | Valuation (reported) |
|-------|------|--------|----------------------|
| Series B | April 2021 | $115M | ~$1.6B |
| Series C | August 2021 | $300M | ~$3.9B |
| Series D | August 2023 | $300M | ~$5.8B |
| Series D-2 | June 2024 | $150M | ~$7.65B |
| Series E (primary) | March 2025 | (primary + tender) | ~$13B |
| Secondary / tender | June 2025 | $200M (Series E) | ~$16B |
| Series E-2 | July 2025 | $500M | ~$22.5B |
| Primary + tender | November 2025 | $300M | ~$32B |
| Series F | June 2026 | $750M | ~$44B |

Reaching a $44 billion valuation in June 2026 represented roughly a 38 percent increase over the $32 billion mark from November 2025, and meant the company's valuation had risen severalfold in about 18 months. The Series F was led by ICONIQ, GIC, and Ontario Teachers' Pension Plan, with new investors including Goldman Sachs Alternatives, D.E. Shaw and Co., Morgan Stanley Investment Management, Generation Investment Management, Insight Partners, and BroadLight Capital. Returning backers included [Founders Fund](/wiki/founders_fund), Thrive Capital, Lightspeed Venture Partners, General Catalyst, Coatue, Khosla Ventures, T. Rowe Price, D1 Capital Partners, and others. [1][2][3]

At the time of the Series F, Ramp said it had surpassed $1 billion in annualized revenue and was generating positive free cash flow; some press accounts, citing Bloomberg, put its run-rate revenue at more than $1.5 billion. The company reported roughly $200 billion in annualized purchase volume, total purchase volume growing about 170 percent year over year as of March 2026 (described as its fastest growth in three years despite the larger base), and more than 3,200 enterprise customers spending at least $100,000 per year. [1][2][3]

## How does Ramp compare to Brex and other competitors?

Ramp competes in corporate spend management against a mix of fintech challengers and incumbents. Its closest rival is [Brex](/wiki/brex), another startup offering corporate cards and spend software; other competitors include [Mercury](/wiki/mercury_bank), Bill.com (BILL), travel-and-expense platform Navan, banking incumbent American Express, and legacy enterprise systems such as SAP Concur. The broader category pits software-first platforms that bundle cards, expense management, accounts payable, and procurement against older, separately purchased tools. [9][10]

Ramp's significance lies in how aggressively it has tied finance operations to AI automation. Where corporate cards were historically sold on rewards, Ramp built a business on saving customers money, and it has extended that thesis into autonomous agents that perform accounting and approval work that once required human staff. Its rapid growth and rising valuation, capped by the June 2026 Series F, made it a flagship case for investors betting that AI-native finance software can both expand margins for customers and capture a large share of corporate spending. CEO Eric Glyman tied the company's growth to a structural shift in how businesses spend: "For 500 years, business ran on two pillars of spend: people and vendors. In the last 24 months, a third arrived, intelligence, paid by the token and invisible to every system we've built to manage cost." He added that "finance is going through the biggest structural change since the spreadsheet." [1][2][3]

## See also

- [Brex](/wiki/brex)
- [Mercury](/wiki/mercury_bank)
- [AI agent](/wiki/ai_agent)
- [Base44](/wiki/base44)
- [Bee](/wiki/bee_ai)

## References

1. Mascarenhas, N. "Ramp raises $750M at $44B valuation as investors hunger for fintechs with an AI story." TechCrunch, June 4, 2026. https://techcrunch.com/2026/06/04/ramp-raises-750m-at-44b-valuation-as-investors-hunger-for-fintechs-with-an-ai-story/
2. "Ramp Raises Series F at $44 Billion Valuation." PR Newswire, June 4, 2026. https://www.prnewswire.com/news-releases/ramp-raises-series-f-at-44-billion-valuation-302791103.html
3. "Financial technology provider Ramp raises $750M in funding at $44B valuation." SiliconANGLE, June 4, 2026. https://siliconangle.com/2026/06/04/financial-technology-provider-ramp-raises-750m-funding-44b-valuation/
4. "Ramp (company)." Wikipedia. https://en.wikipedia.org/wiki/Ramp_(company)
5. "Ramp Reaches $44 Billion Valuation, Expands Push Into AI-Powered Finance." Benzinga, June 4, 2026. https://www.benzinga.com/markets/private-markets/26/06/53009742/ramp-reaches-44-billion-valuation-expands-push-into-ai-powered-finance
6. "Report: Ramp Business Breakdown and Founding Story." Contrary Research. https://research.contrary.com/company/ramp
7. "Ramp Introduces AI Agents to Automate Finance Operations." PR Newswire, July 10, 2025. https://www.prnewswire.com/news-releases/ramp-introduces-ai-agents-to-automate-finance-operations-302502154.html
8. "Ramp targets AI's fastest-growing cost: spend that's hard to track." The New Stack. https://thenewstack.io/ramp-ai-token-spend-management/
9. "Top 8 Ramp Competitors For Credit Cards and Spend Management." Brex. https://www.brex.com/spend-trends/expense-management/ramp-competitors-and-alternatives
10. "The 10 Best Ramp Alternatives and Competitors for 2026." Fyle. https://www.fylehq.com/blog/ramp-alternatives-and-competitors
11. Mascarenhas, N. "Ramp hits $22.5B valuation just 45 days after reaching $16B." TechCrunch, July 30, 2025. https://techcrunch.com/2025/07/30/ramp-hits-22-5b-valuation-just-45-days-after-reaching-16b/
12. Mascarenhas, N. "Ramp hits $32B valuation, just three months after hitting $22.5B." TechCrunch, November 17, 2025. https://techcrunch.com/2025/11/17/ramp-hits-32b-valuation-just-three-months-after-hitting-22-5b/