Spend administration startup Ramp announced on Tuesday that it raised a $200 million Sequence E led by its largest investor, Founders Fund, at a publish cash $16 billion valuation. It is a jaw-dropping $3 billion enhance over the $13 billion valuation Ramp introduced just some months in the past in March from a $150 million secondary share sale.
It’s present valuation can also be greater than double the $7.65 billion Ramp hit a little bit over a 12 months in the past when it raised $150 million at a $7.65 billion publish cash. CEO Eric Glyman is remaining mum about income figures, though in March he mentioned income had skilled “unbelievable development” over the earlier figures it launched. In the summertime of 2023, he mentioned Ramp had handed $300 million in annualized income.
Different VCs, largely present buyers, who participated within the Sequence E spherical embrace Thrive Capital, D1 Capital Companions, Basic Catalyst, GIC, ICONIQ Development, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Development, and Definition Capital.