Ramp Raises $1.85 Billion at $60 Billion Valuation

Ramp announced in a press release that it raised $1.85 billion in primary financing at a $60 billion valuation. Dragoneer Investment Group led the round, while Thrive Capital, Founders Fund, Sands Capital and Avenir Growth served as coleads.

Ramp reports more than $2 billion in annualized revenue and positive cash flow. The company serves more than 85,000 customers and manages over $275 billion in annualized purchase volume. Customers generating more than $100,000 in revenue for Ramp increased 113% from a year earlier.

The company is expanding its tools for managing AI costs and finance work. Its products include AI Token Spend Management for tracking spending across providers, models and API keys, as well as Router.com, which routes model requests based on performance and cost. Ramp says Router.com can reduce inference costs by up to 40%.