Spend management startup Ramp revealed on Tuesday that it raised a $200 million Series E led by its biggest investor, Founders Fund, at a post-money assessment of $16 billion.
This is a jaw-dropping $3 billion increase over the $13 billion assessment Ramp revealed just a couple of months ago in March, after a $150 million secondary share sale.Its current appraisal is likewise more than doublethe $7.65 billion post-money valuation Ramp struck a little over a year agowhen it raised $150 million.
CEO Eric Glyman is remaining mum about earnings figures, although in March he said profits had actually experienced unbelievable development over the previous figures it released.
In the summer season of 2023, he said Ramp had passed $300 million in annualized revenue.Other VCs, mostly existing investors, who participated in the Series E round consist of Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital.