Ramp, the New York-based financial operations platform, announced on June 17, 2025, that it has secured $200 million in Series E funding, elevating its valuation to $16 billion. This represents a significant increase from its $13 billion valuation just three months ago in a secondary share sale.
The funding round was led by Founders Fund, the company's first and largest investor, marking the fifth time Peter Thiel's venture firm has led a Ramp investment round. The financing included participation from numerous prominent investors including Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, and several others.
Under CEO Eric Glyman's leadership, Ramp has positioned itself as a pioneer in AI-powered financial technology. Unlike many companies that rushed to add chatbots following ChatGPT's emergence, Ramp has focused on what Glyman calls 'zero-touch AI' - automation that works invisibly in the background. In 2025 alone, the company has shipped 270 features built with AI assistance.
"Let the robots chase receipts and close your books, so you can use your brain and build things," Glyman stated in his letter to customers. This philosophy has helped Ramp save its customers an estimated $10 billion and 27.5 million hours of work.
Ramp's comprehensive platform combines corporate cards, spend management, bill pay, procurement, travel booking, treasury management, and automated bookkeeping with built-in intelligence. Its AI capabilities include auto-filling expense memos, flagging policy violations, benchmarking SaaS pricing against market data, and optimizing cash management.
The company now serves more than 40,000 businesses across various industries and powers over $80 billion in annualized purchase volume. Despite operating in a competitive space that includes Brex, Airbase, and Divvy, Ramp has distinguished itself through its focus on measurable customer savings and continuous innovation, with over 50% of its payroll dedicated to research and development.