Ramp funding rounds & valuation history
Ramp’s rounds from the April 2024 Series D-2 to the $60B round in October 2026, plus its March 2025 secondary sale and the reported talks before the last close, labelled as a closed round, talks or a tender (secondary). Each row gives the amount, lead investors, valuation, a revenue multiple where Ramp stated annualized revenue, and its source.
Round history
Newest first. Dashed badges and striped rows are not closed transactions. “—” means the source does not disclose the figure or it cannot be computed on the same basis; see the note in each row.
| Date | Status | Round | Amount | Lead / buyer | Valuation | Val. ÷ run-rate | Source |
|---|---|---|---|---|---|---|---|
Closed round |
Primary round ($60B)Ramp: about $5B of total equity raised to date, including this round. |
$1.85B |
Dragoneer Investment GroupCo-led by: Thrive Capital, Founders Fund, Sands Capital, Avenir Growth |
$60BValuation stated by Ramp; pre- or post-money not stated1.36× vs prior closed |
under 30.0×$60B ÷ “over $2 billion in annualized revenue” as of 1 Oct 2026 (Ramp). GNF calc. |
||
Reported talks |
Reported talks (became the $60B round)Outcome: closed 15 Oct 2026 at $1.85B and $60B. |
About $1BPrimary amount under consideration, per one Bloomberg source |
—Not disclosed |
About $60BReported by Bloomberg (via The Next Web and PYMNTS). Ramp declined to comment. |
—Not disclosedTalks-stage or discussed figure; no multiple |
||
Closed round |
Series FRamp: over $3B of total equity raised with this round. |
$750M |
ICONIQ, GIC, Ontario Teachers’ Pension Plan |
$44BValuation stated by Ramp; pre- or post-money not stated1.38× vs prior closed |
under 44.0×$44B ÷ “over $1 billion in annualized revenue” as of 1 Jun 2026 (Ramp). GNF calc. |
||
Closed round |
Primary round + employee tenderRamp: $2.3B of total equity raised (TechCrunch). Ramp’s post says revenue is “over $1 billion today” but does not call it annualized, so no multiple. |
$300MPrimary; the tender size was not disclosed |
Lightspeed Venture Partners |
$32BValuation stated by Ramp; pre- or post-money not stated1.42× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Closed round |
Series E-2 |
$500M |
ICONIQAlso: All Series E participants, including Founders Fund, D1, GIC, Coatue, Avenir, Thrive |
$22.5BValuation stated by Ramp; pre- or post-money not stated1.41× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Closed round |
Series EStep-up is against the Series D-2 ($7.65B), the prior closed round; the $13B secondary sale is not a round. |
$200M“Total size was capped at $200 million” (Ramp) |
Founders FundAlso: Thrive Capital, D1 and others |
$16BValuation stated by Ramp; pre- or post-money not stated2.09× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Tender |
Secondary share saleNo new money to Ramp. |
$150MShares bought from employees and early investors |
Stripes, GIC, Avenir Growth, Thrive Capital, Khosla Ventures, General Catalyst, Lux, 137 Ventures, Definition |
$13B“Most recently valuing the company at $13 billion” (Ramp). Not a primary round. |
—Not disclosedTender price, not a new round; no multiple |
||
Closed round |
Series D-2An extension of the Series D ($300M at $5.8B, per TechCrunch). Earliest round in this tracker. |
$150M |
Khosla Ventures, Founders FundAlso: Sequoia Capital, Greylock, 8VC (new) |
$7.65BPost-money, per TechCrunch (company confirmed the round); Ramp’s post does not say |
—Not disclosedNo run-rate stated in the announcement |
Valuation at each closed round
Closed rounds only, at the valuation Ramp stated (it does not say pre- or post-money). The secondary sale and talks are not plotted.
Source: Ramp announcements. US$ billions, linear scale.
Talks vs. closings
What was reported in talks, and what actually closed.
- 17 Apr 2024 · Closed
Series D-2: $150M at $7.65B.
- 3 Mar 2025 · Secondary
$150M of shares bought from employees and early investors at $13B.
- 17 Jun 2025 · Closed
Series E: $200M at $16B, led by Founders Fund.
- 30 Jul 2025 · Closed
Series E-2: $500M at $22.5B, led by ICONIQ.
- 17 Nov 2025 · Closed
$300M at $32B, led by Lightspeed, with an employee tender.
- 4 Jun 2026 · Closed
Series F: $750M at $44B; annualized revenue over $1B.
- 8 Sep 2026 · Talks
About $1B at about $60B (Bloomberg).
- 15 Oct 2026 · Closed
$1.85B at $60B, led by Dragoneer. This is the last closed valuation.
Cite this dataset
Free to quote with a link back. Copy this citation:
Ramp Funding Rounds & Valuation History. Private Valuation & Funding Round Tracker, GrowthNavigateFunding.net, updated 13 Nov 2026. https://growthnavigatefunding.net/funding/ramp/
Download the data
The same 8 rows as the table: numeric US$ columns, empty cells where a figure is not disclosed, and a source URL for every row.
- File
ramp-rounds.csv(UTF-8, comma-separated)- Stable URL
https://growthnavigatefunding.net/wp-content/uploads/2026/11/ramp-rounds.csv- Columns
id,date,date_precision,status,transaction_type,round,amount_usd_low,amount_usd_high,lead_or_buyer,co_leads,valuation_usd_low,valuation_usd_high,valuation_basis,valuation_to_run_rate_multiple,multiple_bound,multiple_basis,step_up_vs_prior_closed,price_per_share_usd_low,price_per_share_usd_high,shares,source,source_url,other_source_urls,notes,last_updated- Updated
- (IST)
Methodology & status definitions
How each row is labelled and calculated.
Closed round
A priced primary round Ramp announced. Ramp states a valuation but not whether it is pre- or post-money (TechCrunch calls the Series D-2 post-money); the chart shows each as stated.
Reported talks
A round reported before it closed, attributed to the outlet that reported it. Paired with the round it became. No multiple.
Tender
A secondary sale of existing shares by employees and early investors. No new money to Ramp; shown but not charted.
Valuation ÷ run-rate
Valuation ÷ the annualized revenue Ramp stated in that round’s announcement (GNF calc.). Ramp says “over” a figure, so multiples are shown as “under”. No multiple where Ramp gave no annualized figure (Series D-2 to November 2025).
What is not a separate row
Rounds before the Series D-2: Series D ($300M at $5.8B, per TechCrunch), Series C and earlier. Debt facilities. The size of the November 2025 employee tender (not disclosed). Secondary-market prices. Ramp has not filed for an IPO.
Updates & corrections
This page stays at one address and is updated in place; the “Last updated” date above drives the citation and the dataset metadata. Corrections: hello@growthnavigatefunding.net. Informational only; not investment advice.
Changelog
- : Dataset first compiled: six closed rounds, the March 2025 secondary and the September 2026 talks, checked against the linked sources.
Sources
- Ramp (PR Newswire): Ramp Reaches $60 Billion Valuation as Annualized Revenue Tops $2 Billion, 15 Oct 2026
- Ramp: Ramp at $60B: The End of the Beginning, 15 Oct 2026
- TechCrunch: Ramp reaches $60B valuation as it pushes deeper into AI, 15 Oct 2026
- The Next Web: Ramp eyes $60bn valuation three months after $44bn, Bloomberg reports, 10 Sep 2026
- PYMNTS: Ramp Eyes $60 Billion Valuation Just Months After Series F, 8 Sep 2026
- Ramp (PR Newswire): Ramp Raises Series F at $44 Billion Valuation, 4 Jun 2026
- Ramp: Ramp at $32 billion: Money talks. Now it thinks., 17 Nov 2025
- TechCrunch: Ramp hits $32B valuation, just 3 months after hitting $22.5B, 17 Nov 2025
- Lightspeed Venture Partners: Why We Led Ramp’s $300M Round, 21 Nov 2025
- Ramp (PR Newswire): Ramp Raises $500 Million at $22.5 Billion Valuation, 30 Jul 2025
- Ramp (PR Newswire): Ramp Raises $200M Series E at $16B Valuation, 17 Jun 2025
- Ramp release (GIC newsroom): Ramp Deepens Investor Bench, Valuation Grows to $13 Billion, 3 Mar 2025
- TechCrunch: Fintech startup Ramp nearly doubles valuation to $13B in secondary share sale, 3 Mar 2025
- Ramp: Ramp announces Series D-2 capital raise, 17 Apr 2024
- TechCrunch: Ramp raises another $150M co-led by Khosla and Founders Fund at a $7.65B valuation, 17 Apr 2024