Financial technology company Ramp has raised $1.85 billion in a new funding round that values the business at $60 billion, according to Bloomberg, marking another increase in its valuation as the company expands its artificial intelligence capabilities.
The latest financing comes just four months after Ramp raised $750 million at a valuation of $44 billion. The new valuation represents an increase of approximately 36% over that period.
The fundraising comes as Ramp reports growing revenue and customer adoption, while incorporating AI-powered tools into its financial management platform.
Revenue and Customer Base Continue to Grow
Ramp’s annualized revenue has surpassed $2 billion, compared with $1.5 billion in June, according to the reported figures.
Annualized revenue represents the revenue pace projected over a 12-month period based on a more recent measurement. It is not necessarily the same as revenue recognized over a completed financial year.
The company’s customer base also expanded from approximately 70,000 to 85,000 businesses, an increase of more than 21%.
The figures indicate continued demand for Ramp’s financial management products, which help companies manage spending, payments and other financial operations.
Ramp Expands Investment in Artificial Intelligence
Alongside its financial growth, Ramp is integrating AI agents across its products to automate business processes and reduce manual administrative work.
The company recently introduced Glass, a workspace designed to help users share AI-powered automations.
The initiative forms part of Ramp’s broader effort to incorporate artificial intelligence into business finance operations.
AI agents can carry out multistep tasks within software systems, potentially reducing the amount of manual work required for activities such as financial administration and workflow management.
Funding Reflects Continued Investment in Financial Technology
Ramp’s latest funding round follows a period of rapid growth in its reported valuation, revenue and customer base.
The increase from $44 billion to $60 billion highlights continued investor interest in financial technology companies developing AI-enabled enterprise software.
However, the $60 billion figure represents a private-market valuation associated with the funding round, rather than a publicly traded market capitalization.
The company’s latest financing provides additional capital as it continues expanding its financial technology products and artificial intelligence capabilities.
Sources: Bloomberg; TechCrunch; reported company financial and product updates.
