US financial technology company Ramp has secured $1.85 billion in a new funding round, raising its valuation to $60 billion as the company accelerates its expansion into AI-powered financial management services.
The financing, announced on October 15, 2026, was led by Dragoneer Investment Group, with Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth serving as co-leaders alongside participation from other institutional investors.
The latest investment comes as Ramp reports annualized revenue exceeding $2 billion and positive cash flow, highlighting growing demand for its corporate spending and financial automation solutions.
According to the company, more than 85,000 businesses use its platform, which processes over $275 billion in annualized purchase volume, representing a 175% increase compared with the previous year.
Ramp provides corporate cards, expense management, bill payments, accounting automation, and financial reporting tools designed to help organizations monitor spending and streamline business operations.
The company has increasingly focused on artificial intelligence, introducing solutions that monitor AI-related expenditure, automate financial workflows, and help organizations manage the costs associated with using AI models.
The new financing is expected to support further product development as Ramp expands its position in the enterprise financial technology market.
With approximately $5 billion raised in total equity financing, Ramp's latest valuation demonstrates continued investor interest in companies combining financial infrastructure with enterprise automation and AI technologies.
