Investors couldn’t get enough of Ramp through 2025, and it looks like 2026 could be another banner year for the enterprise expense management startup. The company is in talks to raise another $750 million at an initial valuation of more than $40 billion, sources said. They tell the Wall Street Journal. The contract is not yet final, so the terms may change.
Ramp declined to comment.
Ramp announced it in November It raised $300 million at a cost of $32 billion It is run by Lightspeed, which includes a staff tender. The company announced a $500 million Series E-2 round at $22.5 billion in July by Iconig, just weeks after a $200 million Series E round at $16 billion led by Founders Fund. It has been raised several times before in 2025, each time with another big valuation hike.
The ramp was also successful in generating revenue. In November, Ramp’s founding CEO Eric Glyman said his company had doubled its revenue to $1 billion in just one year. Glyman also touts the artificial intelligence vision built into Ramp’s expense management products, with agents that automatically block out-of-policy purchases, detect fraud and move funds into interest-bearing investments.
This combination of growth and AI seems irresistible to VCs.
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