Ramp, a premier financial operations platform, has announced its Series E-2 funding round, successfully raising $500 million at a valuation of $22.5 billion. This funding, led by ICONIQ, garners continued support from previous backers and new investors like Sutter Hill Ventures and T. Rowe Price. Ramp has saved clients over $10 billion and 27.5 million hours, servicing 40,000+ companies, including giants like Shopify and CBRE. The platform manages over $80 billion in annual transaction volume, and recently launched AI agents that significantly enhance policy compliance. With a product suite covering corporate cards, expense management, and treasury services, Ramp boasts a staggering $1.9 billion in total equity financing. CFO Will Petrie emphasizes a focus on capitalizing on tech innovation as finance evolves. Eric Glyman’s vision includes transforming finance operations through AI, aiming for increased efficiency by 2028. Ramp continues to redefine financial strategies for businesses, capturing an underserved market potential of 98.5%.
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