Ramp announces a significant capital infusion in its Series D-2 funding round

Ramp, the company revolutionizing financial management with its ‘better corporate card’, today announced a significant capital infusion in its Series D-2 funding round. Founded just five years ago, Ramp’s steadfast mission has been to empower businesses to spend less and save more, a commitment that remains at the heart of their operations.

Ramp has evolved from a simple corporate card provider into a comprehensive financial management platform that offers a full command-and-control system for business finances. This system includes capabilities to issue cards, manage approvals, track and analyze spending, procure software and services, make all types of payments, and automate financial close processes—all from one unified platform. The platform combines advanced software with an intuitive design, making financial operations simpler, more efficient, and more profitable.

With tens of thousands of finance teams across various industries nationwide adopting Ramp, the platform has been praised for its user-friendly experience not just by finance teams but also by employees across these organizations. The latest funding will fuel a tripling down on innovation, particularly in leveraging AI to automate processes, deepen spending insights, enhance decision-making, and drive more value for customers.

Growth and Impact

Reflecting on its unwavering customer commitment, Ramp reported an acceleration in growth in Q1 2024, with a notable increase in total purchase volume and revenue compared to the same period in 2023. This growth has been supported by the launch of over 150 new product innovations in the past year alone, including upgrades in spend management, procurement enhancements, advanced accounts payable features, deep accounting automation, and productivity software integration.

Ramp’s offerings are designed to eliminate the tedium of financial management, allowing finance professionals, entrepreneurs, and business owners to focus more on what truly matters—their mission. Thanks to these innovations, Ramp clients have reported significant savings and efficiencies, including an average of 5% savings on expenses, translating into over $1 billion saved and 10 million hours of labor automated.

Looking Ahead

As Ramp continues to expand its platform, the focus remains on raising the bar every day to support robust business growth and success through innovative financial management solutions.

For more information about Ramp and their innovative solutions, please visit Ramp’s website.

‍About Ramp: Ramp is a leading financial technology company dedicated to helping businesses control costs and save money. Ramp’s comprehensive financial management platform supports all aspects of business financial operations, making it easier, faster, and more efficient.