How Ramp is Saving Companies Time and Money
Ramp, a leading financial operations platform, has announced a US$200m Series E funding round led by Founders Fundāits first and largest investorābringing its valuation to US$16bn.
This marks the fifth time Founders Fund has led a Ramp funding round. The round also included participation from prominent venture capital firms such as Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth and Definition Capital.
With this latest raise, Ramp has now secured US$1.4bn in total equity financing.
To date, Ramp has saved customers US$10bn and 27.5 million hours whilst the company is currently powering US$80bn in annualised purchase volume across card transactions and bill payments.
More than 40,000 companies, including CBRE, Shopify, Anduril, Notion, Cursor, Vercel, Barry's and MAGNA-TILES, are served by Ramp and its product line which includes corporate cards and expense management, bill payments, procurement, travel booking and treasury. Half of Ramp's customers use two or more products across its platform.
Mission for 'quiet efficiency'
The announcement of this funding was published alongside a letter from Eric Glyman, co-founder and CEO of Ramp. In this, Eric described Ramp's mission as being straightforward: to save businesses time and money in ways that often go unnoticed.
Eric highlighted how Ramp automates many of the most tedious administrative tasks, such as chasing receipts and reconciling books, so that employees can focus on more meaningful work. He cited the recent launch of "Price Drop," an AI-powered feature that automatically rebooks hotels if prices decrease, as an example of how Ramp quietly saves customers both time and money.
Over the past year, Eric reported significant progress: Ramp doubled the automation of employee expense reports and cut the time spent on administrative tasks by more than 50%.
He also noted that the company launched over 300 new features, resulting in a 34% drop in customer support requests. According to Eric, Ramp's customers are now able to accomplish three times more work per minute on the platform than they could just two years ago.
The CEO shared several customer success stories to illustrate Ramp's impact. Construction One, he said, reduced its accounts payable team's monthly close time by 75%, saving 360 hours in a year.
Poshmark reportedly achieved its free cash flow goals five months ahead of schedule by shifting its team's focus from administrative tasks to strategic projects.
An unnamed industrial company processed US$47m through Ramp cards, using built-in controls to prevent 9% of out-of-policy spend and save US$4m.
In 2025 alone, Ramp has shipped 270 features, all quietly built with the help of AI. Eric highlighted three of his favourite new tools:
Card & Expense: AI auto-fills memos and categories as soon as a swipe clears, flags anything that looks out of policy and automatically suggests memos for any transactions that still need human context.
Procurement: Price and Seat Intelligence benchmarks every SaaS quote against anonymised market data; if a company is paying above the 80th percentile or holding unused seats, Ramp surfaces the delta and recommends a target price.
Treasury: Its cash forecasting predicts company's liquidity needs and sweeps idle funds into higher-yield instruments. When upcoming payroll or vendor runs tighten the buffer, Ramp automatically pulls the cash back, so companies earn more without risking an overdraft.
āJobās not finishedā
Regarding Ramp's approach to AI, the CEO explained that the company invests over half of its payroll in research and development, employing a team that includes 13 world champion programmers and mathematicians. He stated that Ramp's AI works quietly in the background to improve features such as card and expense management, procurement benchmarking and treasury cash forecasting, all without requiring user intervention.
Eric also assured customers of Ramp's ongoing commitment to improvement, declaring that "this is the worst our product will ever be." He described Ramp's vision as delivering "quiet efficiency," ensuring that businesses can reclaim their time and money with minimal disruption to their daily operations.
But reinforced his commitment to do even more, with the companies only serving 1.5% of the US market. Whilst this has seen Ramp save companies billions of dollars and hours a year, Eric believes they should be saving millions of companies trillions of dollars and hours a year.
"I can assure you I'm not just writing this because it sounds good," he adds.
"There's a lot more to do and a lot more to build. We're grateful for the opportunity to earn your business every day ā and we'll keep delivering more time and money back to you with each one.
"Job's not finished."
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