18 April 2024 – Ramp, a business that specialises in spend management, revealed to TechCrunch today that it had received an additional $150 million at a post-money value of $7.65 billion. The fundraising was co-led by new backer Khosla Ventures and longtime supporter Founders Fund, with additional involvement from new backers Sequoia Capital, Greylock, and 8VC.
The most recent round was also funded by previous investors Thrive Capital, General Catalyst, Sands Capital, D1 Capital, Lux Capital, Iconiq Capital, Definition Capital, and Contrary Capital.
Ramp’s Series D funding round, in which the fintech startup secured $300 million at a 28% lower value of $5.8 billion, is said to have been extended by this round. Thanks to the most recent cash injection, it is now closer to the $8.1 billion value it reached in March 2022.
Conclusion
With this rise, Ramp has raised $700 million in committed loan investment and $1.2 billion in equity financing since its founding in 2019. Co-founder and CEO Eric Glyman revealed to TechCrunch in March 2023 that while sales had increased four times in 2022 (thanks in large part to the company’s fastest-growing bill pay sector), profitability had yet to materialise.
Source:Link