Spend administration startup Ramp introduced on Tuesday that it raised a $200 million Sequence E led by its largest investor, Founders Fund, at a post-money valuation of $16 billion. This can be a jaw-dropping $3 billion improve over the $13 billion valuation Ramp introduced just some months in the past in March, after a $150 million secondary share sale.
Its present valuation can be greater than double the $7.65 billion post-money valuation Ramp hit slightly over a yr in the past when it raised $150 million. CEO Eric Glyman is remaining mum about income figures, though in March he mentioned income had skilled “unbelievable progress” over the earlier figures it launched. In the summertime of 2023, he mentioned Ramp had handed $300 million in annualized income.
Different VCs, largely current buyers, who participated within the Sequence E spherical embrace Thrive Capital, D1 Capital Companions, Normal Catalyst, GIC, ICONIQ Development, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Development, and Definition Capital.
