Ramp, a spend management startup, raised $200 million in Series E funding led by Founders Fund, elevating its valuation to $16 billion. This represents an impressive $3 billion increase from just a few months ago. Over the past year, Ramp's valuation has more than doubled, showcasing significant investor confidence and market demand. CEO Eric Glyman has hinted at strong growth, reporting annualized revenue exceeding $300 million, although he has not disclosed specific revenue figures. Existing VCs, including Thrive Capital and General Catalyst, also contributed to this funding round.
"Ramp has raised a $200 million Series E led by Founders Fund, reaching a $16 billion valuation, up $3 billion from March, indicating impressive growth."
"CEO Eric Glyman is tight-lipped about revenue, but Ramp surpassed $300 million in annualized revenue during summer 2023, showcasing remarkable growth."
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