Ramp hits $2B run rate, closes $60B round

Ramp has reached $2 billion in annualized revenue and completed a funding round at a $60 billion valuation, Bloomberg reported on Thursday. The round was led by Dragoneer Investment Group and Thrive Capital, with participation from Founders Fund.

The new valuation represents a sharp increase from the company’s previous funding rounds, reflecting both revenue growth and investor confidence. When StartupReader covered the $1.85 billion raise on October 13, the $60 billion figure was already notable; the latest announcement confirms the valuation while adding the revenue benchmark.

Ramp’s corporate spend-management platform competes in a crowded space. The $2 billion run rate suggests strong adoption, though the valuation implies expectations of continued acceleration. With fintech funding rounds cooling in many sectors, Ramp’s ability to command such terms raises questions about whether the model can sustain this pace or if the market is pricing in future expansion beyond its core tools.

No additional details on the round’s size or terms were disclosed. The company has not yet commented publicly.

Sources: bloomberg.com