Ramp raises about $1.85B led by Dragoneer and Thrive Capital at a $60B pre-money valuation, Bloomberg reports

Ramp has raised about $1.85 billion in a round led by Dragoneer Investment Group and Thrive Capital, with Founders Fund also writing a large check, at a $60 billion pre-money valuation, Bloomberg reported on 9 October, citing people familiar with the matter. Ramp declined to comment.

The round closes the talks Bloomberg first reported in September, when the company was looking to raise about $1 billion. It lands four months after a $750 million round at a $44 billion valuation in June.

Founded in 2019 and led by co-founder and CEO Eric Glyman, Ramp runs corporate cards, expense management, bill payments and AI-driven finance automation. In June it said it worked with 70,000 businesses, and Bloomberg put annualised revenue above $1.5 billion at the time. Its closest rival, Brex, agreed to sell to Capital One earlier this year for about $5.15 billion.