Ramp Secures $750 Million Funding, Valued at $44 Billion

Ramp, an enterprise AI payment and financial management platform, has announced the completion of a $750 million funding round, bringing its post-investment valuation to $44 billion. According to Odaily, the round was led by ICONIQ, GIC, and the Ontario Teachers' Pension Plan, with participation from Goldman Sachs Alternatives, D.E. Shaw, Morgan Stanley Investment Management, Generation Investment Management, and Insight Partners. Ramp is expanding its business into AI cost management by introducing an AI Token expense management tool to help companies monitor and control expenses related to large models and AI services. In recent months, Ramp has acquired the UK and European payment platform Billhop and the business travel platform Juno. Additionally, it has strengthened its long-term partnership with Visa to enable AI agents to autonomously execute corporate payments within a real-time risk control framework. The company disclosed that its internal AI tools have achieved a 99.5% adoption rate among employees. Its internally developed platform, Inspect, currently generates over two-thirds of the company's code. Ramp plans to use the latest funding to further expand its product offerings and accelerate its expansion into the UK and European markets.