Spend administration startup Ramp introduced on Tuesday that it raised a $200 million Series E led by its largest investor, Founders Fund, at a publish cash $16 billion valuation. This is a jaw-dropping $3 billion improve over the $13 billion valuation Ramp introduced just some months in the past in March from a $150 million secondary share sale.
It’s present valuation can be greater than double the $7.65 billion Ramp hit just a little over a yr in the past when it raised $150 million at a $7.65 billion publish cash. CEO Eric Glyman is remaining mum about income figures, though in March he stated income had skilled “unbelievable development” over the earlier figures it launched. In the summer time of 2023, he stated Ramp had handed $300 million in annualized income.
Other VCs, largely current buyers, who participated within the Series E spherical embrace Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital.
