Ramp (company)

Ramp Business Corporation

Company type	Private
Industry	Fintech
Founded	March 2019;6 years ago (March 2019)
Founders	Eric Glyman (CEO) Karim Atiyeh (CTO) Gene Lee
Headquarters	New York City, U.S.
Products	Corporate expense management platform, corporate credit cards
Number of employees	1,200 (2025) [1]
Website	ramp.com

Ramp Business Corporation is an American multinational financial technology company that offers corporate charge cards, expense management, and bill-payment software. ^[2] The company is headquartered in New York City with additional offices in Miami and San Francisco. ^[3]

As of March 2025, Ramp was valued at $13 billion and processing $55 billion in payments annually. ^[4] Investors in the company include Thrive Capital, Goldman Sachs, Peter Thiel of Founders Fund, Keith Rabois of Khosla Ventures, Redpoint Ventures, 137 Ventures, BoxGroup, D1 Capital Partners, Contrary, and 8VC, among others. ^{[5] [6] [7] [8] [9]}

History

2019–2022: Founding and seed round

Ramp advertisement on a San Francisco MUNI bus

Ramp was founded in March 2019 by Eric Glyman, Karim Atiyeh, and Gene Lee. Glyman and Atiyeh met as classmates at Harvard University and had previously founded price tracking app Paribus, which was acquired by Capital One in 2016. ^[10]

Glyman and Atiyeh talked with approximately 100 finance experts before launching Ramp's corporate card, finding that potential clients were unhappy with the inefficiency of existing methods for collecting receipts and logging expenses. ^[11]

The company was formally launched in February 2020, ^[12] and reached $100 million in annualized revenue by early 2022. ^[2]

2024–present: Series E funding round

As of 2024, Ramp had reached $300 million in annualized revenue ^[13] with more than 25,000 businesses on its platform. ^[14] That June, it secured $150 million in a Series D-2 funding round, maintaining its valuation at $7.65 billion. This round was co-led by Khosla Ventures and Founders Fund, among other investors. ^[15]

In March 2025, Ramp's valuation surged to $13 billion, almost double over a year prior. ^[4] As of June 2025, Ramp was valued at $16 billion after a Series E funding round. ^[16] As of July 2025, Ramp was valued at $22.5 billion after its E-2 funding round. ^[17] In the summer of 2025, Ramp introduced the AI Policy Agent. The tool applies company expense policies to transactions using artificial intelligence to automate expense reviews and approvals. As of August 2025, Ramp had reached $1 billion in annualized revenue. ^[1]

Government relations

In January 2025, Ramp published a blog post titled "The Efficiency Formula" discussing potential applications of its technology to government spending. ^[18] In March 2025, the General Services Administration announced a pilot program related to the government's SmartPay expense card program, for which Ramp confirmed it was being considered. ^{[19] [18]} According to reporting by ProPublica , Josh Gruenbaum, the commissioner of the Federal Acquisition Service, helped organize private meetings with the Ramp executives. ^[9] Scott Amey, the general counsel with the bipartisan watchdog Project on Government Oversight, commented on the situation by saying, “This goes against all the normal contracting safeguards that are set up to prevent contracts from being awarded based on who you know." ^[9] ProPublica noted that much of Ramp's funding has come from firms with ties to the Trump family or Elon Musk. ^[9]

References

1. Schwartz, Leo. "Ramp is taking aim at American Express by upending corporate credit cards. Can the $22.5 billion startup live up to the hype?". Fortune. Retrieved September 23, 2025.
2. "CNBC Disruptor 50 — 29. Ramp". CNBC. May 9, 2023. Retrieved October 11, 2023.
3. Nehring, Abigail (September 27, 2023). "Fintech Startup Ramp Doubles Footprint With Move to 28-40 West 23rd Street". Commercial Observer. Retrieved October 11, 2023.
4. Hammond, George (March 3, 2025). "Peter Thiel-backed fintech Ramp nearly doubles valuation to $13bn". Financial Times. Retrieved March 3, 2025.
5. Biswas, Pritam (August 22, 2023). "Fintech firm Ramp raises $300 mln at lowered valuation of $5.8 bln". Reuters. Retrieved October 11, 2023.
6. "Ramp announces Series D-2 capital raise". Ramp. Retrieved April 29, 2024.
7. Azevedo, Mary Ann (April 17, 2024). "Ramp raises another $150M co-led by Khosla and Founders Fund at a $7.65B valuation". TechCrunch. Retrieved May 12, 2024.
8. "Sell or Invest in Ramp Stock Pre-IPO". Nasdaq Private Market. Retrieved July 30, 2024.
9. "Trump Team Eyes Politically Connected Startup to Overhaul $700 Billion Government Payments Program". ProPublica. April 17, 2025.
10. Li, Steven. "They Built Ramp Into An $8 Billion Company In Under 3 Years: The Inside Story Of How They Did It". Forbes. Retrieved December 29, 2023.
11. "How Ramp's Eric Glyman went from "a sheet of paper" to a 13,000+ customer fintech business in less than four years (Cornell Tech @ Bloomberg)". Bloomberg L.P. May 30, 2023. Retrieved December 29, 2023.
12. Son, Hugh (August 24, 2021). "Corporate card start-up Ramp more than doubles valuation in five months to $3.9 billion". CNBC. Retrieved October 11, 2023.
13. Harris, Ainsley (March 19, 2024). "This company uses generative AI to generate savings for businesses". Fast Company. Retrieved March 23, 2024.
14. "5 Years of Helping Business Save". Ramp. Retrieved March 23, 2024.
15. Azevedo, Mary Ann (April 17, 2024). "Ramp raises another $150M co-led by Khosla and Founders Fund at a $7.65B valuation". TechCrunch. Retrieved July 30, 2024.
16. "CNBC Disruptor 50 Fintech Ramp's valuation hits $16 billion in deal led by Peter Thiel's Founders Fund". CNBC. Retrieved July 28, 2025.
17. "Fintech Ramp valued at $22.5 billion in late-stage funding round". Reuters. Retrieved August 4, 2025.
18. "Ramp published a pitch for how to tackle wasteful government spending" . Retrieved April 19, 2025.
19. "Expense management startup Ramp is being considered for a charge card pilot program by the U.S. General Services Administration" . Retrieved April 19, 2025.