New York, NY -โข Ramp, a corporate expense management and financial software provider, โฃannounced today itโ has reached $1 billionโ in annualized revenue, solidifying its position โคas aโ rapidly โgrowing fintech company. The milestone comes just months โafter the company reported $700 โmillion in annualized revenue in March, representing $300 โmillion in growth within six months.
Founded by Eric Glyman, Rampโ provides tools designed to help businesses control and optimize their spending. โThe company’s impressive โgrowth trajectory recently ledโ to a $500 million โfunding round in July, valuingโ it at โค$22.5 billion. โIconiq Growth led the โround, with participation from Founders Fund and โฃD1 Capital Partners, bringing Ramp’s totalโ funding to $1.9โ billion.
“We’re seeing astonishingโฃ momentum as businesses seek smarter ways to manage their finances,” said Eric โGlyman, co-founder and CEO of Ramp, in a โprevious interview with โขTechCrunch. The company is also reportedly cash-flow positive.
Lookingโ ahead, ramp is focused on developing โขAI-powered “autonomous finance”โ systems, โคaiming to automate financial management for businesses.The company recentlyโ launched its first AI agentโฃ andโค plans to introduce additional AI-drivenโข features โคin the coming years,anticipating that automatedโ financial systems will become โขstandard practice by 2028.