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Ramp sees valuation bounce back on $150 million raise

Finance automation and corporate credit card startup Ramp has raised $150 million in a funding round co-led by Khosla Ventures and Founders Fund.

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Ramp sees valuation bounce back on $150 million raise

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Ramp was founded five years ago as a corpoprate card and his since expanded into advanced spend management software, procurement, travel, accounts payable, working capital, global coverage, and intelligence.

The latest funding round values Ramp at $7 billion, marking a recovery from its last $300 million raise in August, which came with a  $5.8 billion valuation. This was a steep decline from the $8.1 billion price tag it achieved at the height of the fintech boom in 2022..

"This new funding will allow us to triple down on the next wave of innovation to deliver much more value for our customers," says Eric Glyman, co-founder and CEO. "This includes using AI capabilities to automate cumbersome processes, provide deeper insights into spending, enhance decision-making capabilities, and more. We’re just getting started as we help our customers create the finance function of the future."

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