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Ramp

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Ramp provides corporate cards, expense management, procurement, bill pay, and finance automation software.

sentiment mix
bull 81%bear 0%neu 19%

funding rounds

private markets
latest round
Primary
May 2026 | $750M targeted
post-money valuation
> $40B post-money
+25% vs 2025 round
total raised
$2.3B+ disclosed
2 disclosed rounds | updated 2026-07-09
round progression
Primary
Nov 2025
$300M
Primary
May 2026
$750M targeted
lead investors
  • ICONIQ Capitallead
  • GICco
dateroundamountvaluationinvestors
May 2026Primary$750M targeted> $40B post-moneyICONIQ Capital, GIC
Nov 2025Primary$300M$32B post-moneyLightspeed Venture Partners

signal summary

latest high-conviction thesis
Ramp launches token spend management after 21x customer AI spend growth; owns infra for 3x cost advantage▾

Ramp's owned data centers give ~3x inference cost advantage vs cloud; token spend management product addresses exploding enterprise AI costs (21x growth in 4 months) with visibility, routing, and optimization.

eric lymanT1TBPN2026-07-16
confidence 88 / 100impact High
key themes
  • AI Economics & Business Models65%
  • AI Infrastructure59%
  • AI Agents53%
  • Open Source AI41%
  • Data Center Infrastructure35%

bull thesis · 17

87 / 100
  • •Ramp cuts expenses 5% and boosts revenue 16% for users
  • •Ramp cited as sovereign AI leader with engineering-first labs leader profile
  • •Ramp expanding into real economy (Project Iowa) signals durable compounding

bear thesis · 0

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  • — none —

mentions · 21

David SenraHow ElevenLabs Has Scaled to One of the Fastest-Growing AI Companies | Mati Staniszewski1 mentions · 1▲ 0▼ 0○ · 16 days ago
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Bloomberg TechMeta Settles Federal Social Media Addiction Trial | Bloomberg Tech 8/26/20261 mentions · 1▲ 0▼ 0○ · last month
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20VCJulien Bek on Lessons from Don Valentine, Doug Leone & Alfred Lin | What Sequoia Sees in Founders1 mentions · 1▲ 0▼ 0○ · last month
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Sequoia CapitalHow Companies Are Building Their Own Intelligence | Sonya Huang, Sequoia Capital3 mentions · 3▲ 0▼ 0○ · 2 months ago
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20VCThe AI Boom Will Create Enormous Roadkill: Who Wins & Loses? | David Frankel2 mentions · 0▲ 0▼ 2○ · 2 months ago
0:0016:0032:0048:001:05:00
Y CombinatorPaper: The Design Tool Built For The Agent Era1 mentions · 1▲ 0▼ 0○ · 2 months ago
0:0015:0030:0045:001:00:00
Invest Like The BestWhy the Markets Are Pricing AI Wrong | Gavin Baker1 mentions · 1▲ 0▼ 0○ · 2 months ago
0:0017:0035:0052:001:10:00
TBPNHackingFace, Science Funding, Travis Kalanick Joins, New Apple Gear1 mentions · 1▲ 0▼ 0○ · 2 months ago
0:0016:0032:0048:001:05:00
TBPNU.S. AI Execs Warn as China’s AI Push Grows, Substack Adds AI Detection Tool | Diet TBPN1 mentions · 1▲ 0▼ 0○ · 2 months ago
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All-In PodcastCan the AI Industry Regulate Itself? Stripe Wants PayPal, China Catches Up, NY Bans Datacenters1 mentions · 1▲ 0▼ 0○ · 2 months ago
0:0015:0030:0045:001:00:00
TBPNTML Inkling, California Forever? TSMC Capex, Tokenomics, Roblox1 mentions · 1▲ 0▼ 0○ · 2 months ago
0:0017:0035:0052:001:10:00
20VCSpaceX Launches Largest Ever IPO | OpenAI Files to Go Public | Uber Cuts 23% of HR2 mentions · 0▲ 0▼ 2○ · 4 months ago
0:0016:0032:0048:001:05:00
TBPNPalantir's AIPCon 10, Ramp Hits $44B, 60 Minutes Eyes Rogan | Diet TBPN1 mentions · 1▲ 0▼ 0○ · 4 months ago
0:005:0010:0015:0020:00
TBPN🔴 Alex Karp LIVE from AIPCon 101 mentions · 1▲ 0▼ 0○ · 4 months ago
0:006:0012:0018:0025:00
itnigSpaceX, OpenAI y Anthropic: Las 3 IPOs que pueden romper el mercado1 mentions · 1▲ 0▼ 0○ · 6 months ago
0:0013:0027:0041:0055:00
StripeRamp founder Eric Glyman on the many ways AI is changing corporate spending1 mentions · 1▲ 0▼ 0○ · 7 months ago
0:002:005:007:0010:00
Invest Like The BestThe Anatomy of Ramp's Hyper-Growth | Karim Atiyeh Interview1 mentions · 1▲ 0▼ 0○ · 11 months ago
0:0017:0035:0052:001:10:00