New York, NY - Ramp, a corporate expense management and financial software provider, announced today it has reached $1 billion in annualized revenue, solidifying its position as a rapidly growing fintech company. The milestone comes just months after the company reported $700 million in annualized revenue in March, representing $300 million in growth within six months.
Founded by Eric Glyman, Ramp provides tools designed to help businesses control and optimize their spending. The company’s impressive growth trajectory recently led to a $500 million funding round in July, valuing it at $22.5 billion. Iconiq Growth led the round, with participation from Founders Fund and D1 Capital Partners, bringing Ramp’s total funding to $1.9 billion.
“We’re seeing astonishing momentum as businesses seek smarter ways to manage their finances,” said Eric Glyman, co-founder and CEO of Ramp, in a previous interview with TechCrunch. The company is also reportedly cash-flow positive.
Looking ahead, ramp is focused on developing AI-powered “autonomous finance” systems, aiming to automate financial management for businesses.The company recently launched its first AI agent and plans to introduce additional AI-driven features in the coming years,anticipating that automated financial systems will become standard practice by 2028.