Financial operations platform Ramp has secured USD 500 million in a Series E-2 round, valuing the company at USD 22.5 billion.

Ramp’s Investors

This financing was led by ICONIQ and included contributions from Founders Fund, D1 Capital Partners, GIC, Coatue, Avenir Growth, Thrive Capital, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Altimeter, Definition Capital, 137 Ventures, General Catalyst, and Stripes. Existing investors also bolstered Ramp’s support with the addition of new backers such as Sutter Hill Ventures, Lightspeed Ventures, T. Rowe Price Associates, Inc., GV (Google Ventures), Emerson Collective, Operator Collective, and Pinegrove Capital Partners.

Focusing on AI in Financial Services

The Series E-2 comes after Ramp’s previous funding round in June 2025 when it raised USD 200 million. The goal was to automate complex and repetitive tasks, allowing staff to focus on innovation.

Ramp has now cumulatively secured USD 1.9 billion through equity financing and started generating cash flow earlier this year. With the new funds, Ramp plans to further enhance its AI capabilities in financial services. The company intends to expand its presence in AI-related fields and is currently rolling out AI agents designed for real-world policy enforcement, fraud detection, and policy improvement. These agents are available to Ramp Plus users with more agents such as procurement, intake, vendor-onboarding, reconciliation, budgeting, and reporting set for future releases.

Addressing Security Concerns

In response to the advancements in AI image generation that could enable fraud through fake receipts, Ramp recently introduced a solution launched in April 2025. This move aims to address security challenges while continuing Ramp’s focus on the AI space.