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Ramp says it has hit $1B in annualized revenue
Ramp answered any lingering question as to why investors valued the company at $22.5 billion just 45 days after they valued it at $16 billion.
In March, co-founder and CEO Eric Glyman told TechCrunch that Ramp had hit annualized revenue of $700 million. Ramp, which provides corporate expense management and financial software tools, raised $500 million in the $22.5 billion-valuation round in July, led by Iconiq Growth with participation from Founders Fund and D1 Capital Partners. Next up, Ramp is working on AI agent-led “autonomous finance” — automated financial management systems — that Glyman predicts will be the norm by 2028.
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