Ramp at a glance
Question | Answer | As of |
|---|---|---|
Who owns Ramp? | Its founders, staff and investors; Founders Fund is the largest investor. It is private | Nov 2026 |
Valuation | $60 billion | Oct 2026 |
Total raised | About $5 billion in equity, plus debt facilities | Oct 2026 |
Revenue | Over $2 billion annualized, with positive cash flow | Oct 2026 |
Customers | 85,000+ businesses | Oct 2026 |
Purchase volume | Over $275 billion annualized, up 175% in a year | Oct 2026 |
Employees | More than 1,000, the latest company figure | Jun 2025 |
CEO | Co-CEOs Eric Glyman and Karim Atiyeh, two of its co-founders | Nov 2026 |
Founded | March 2019, in New York, by Eric Glyman, Karim Atiyeh and Gene Lee | 2019 |
Headquarters | 28 West 23rd Street, New York | Nov 2026 |
Email format | {first}.{last}@ramp.com and {f}{last}@ramp.com, about equally (48% each) | Nov 2026 |
The company is Ramp Business Corporation, incorporated in Delaware in 2019 (SEC). Its cards are issued by partner banks: Celtic Bank, Sutton Bank, Lead Bank and Column in the US, Peoples Trust in Canada, and Stripe in the UK and Europe (Ramp).
Who owns Ramp?
Ramp is private and venture-backed. It calls Founders Fund, which backed its 2019 seed round, “the company’s first and largest investor” (Ramp). Other lead investors include D1 Capital and Stripe (Ramp), Thrive Capital and Sands Capital (Ramp), Khosla Ventures (Ramp), ICONIQ (Ramp), Lightspeed (Ramp), GIC and Ontario Teachers’ (Ramp), and Dragoneer (Ramp).
The founders’ stakes aren’t public. Forbes estimates that each co-founder owns about 6% (Forbes). Ramp’s board is Glyman, Atiyeh, investor Keith Rabois and Zachary Frankel (SEC). Ramp has filed no IPO papers; Glyman told Bloomberg in June 2026 that it aims to go public eventually, without giving a date (TechCrunch).
What is Ramp’s revenue?
Over $2 billion in annualized revenue, with positive cash flow, as of October 1, 2026. Ramp counts “interchange, subscription, interest, and other revenue” and leaves out incentives paid to customers (Ramp). Its co-CEOs say it passed $2 billion “over the summer” (Ramp), and that revenue is growing 25% faster than a year earlier (Ramp).
Growth has been fast. Ramp was on a $10 million revenue run rate when it became a unicorn in April 2021 (Fortune), crossed $100 million in annualized revenue by March 2022, and passed $300 million by August 2023 (TechCrunch). In November 2025 Glyman wrote: “Our revenue was $500 million 12 months ago, over $1 billion today” (Ramp). Ramp first reported over $1 billion as of August 31, 2025 (Ramp), and Bloomberg put its run rate above $1.5 billion in June 2026 (TechCrunch).
Most of the money comes from interchange, the fee charged on every card payment, plus bill-payment fees, the paid Ramp Plus software tier, foreign exchange, travel bookings and interest on Treasury balances (TechCrunch). Ramp keeps about 0.8% of the volume it processes, Fortune reported in September 2025 (Fortune). It has generated cash since early 2025 (Ramp).
Ramp ARR (annual recurring revenue)
Ramp doesn’t report ARR. Its figure is annualized revenue, and most of it is interchange earned when customers spend, not subscriptions. The latest is over $2 billion as of October 1, 2026 (Ramp). CNBC described the $1 billion milestone as “annualized recurring revenue” (CNBC), but Ramp itself never says ARR.
Ramp MRR (monthly recurring revenue)
Ramp doesn’t publish MRR. Over $2 billion of annualized revenue means more than about $167 million a month; that is our calculation, not a company figure.
How much has Ramp raised? Funding and valuation
About $5 billion in equity, by Ramp’s count after its October 2026 round (Ramp), plus debt facilities from Goldman Sachs and Citi (Ramp). The latest round is $1.85 billion at a $60 billion valuation, led by Dragoneer Investment Group with Thrive Capital, Founders Fund, Sands Capital and Avenir as co-leads, on October 15, 2026 (Ramp). That is up from $44 billion in June 2026 and $32 billion in November 2025.
Round | Date | Amount | Lead | Valuation | Source |
|---|---|---|---|---|---|
Unnamed round | Oct 15, 2026 | $1.85B | Dragoneer; co-leads Thrive, Founders Fund, Sands, Avenir | $60B | |
Series F | Jun 4, 2026 | $750M | ICONIQ, GIC, Ontario Teachers’ | $44B | |
Round and employee tender | Nov 17, 2025 | $300M | Lightspeed | $32B | |
Series E-2 | Jul 30, 2025 | $500M | ICONIQ | $22.5B | |
Series E | Jun 17, 2025 | $200M | Founders Fund | $16B | |
Secondary sale (no new money) | Mar 3, 2025 | $150M of shares from staff and early investors | Several buyers | $13B | |
Series D-2 | Apr 16, 2024 | $150M | Khosla Ventures, Founders Fund | $7.65B | |
Series D | Aug 22, 2023 | $300M | Thrive Capital, Sands Capital | $5.8B (a down round) | |
Equity and debt | Mar 21, 2022 | $200M equity plus $550M debt | Founders Fund | $8.1B | |
Series C | Aug 24, 2021 | $300M | Founders Fund | $3.9B | |
Series B | Apr 2021 | $115M | D1 Capital, Stripe | $1.6B | |
Debt line | Feb 9, 2021 | $150M | Goldman Sachs | None (debt) | |
Unnamed round | Dec 17, 2020 | $30M | D1 Capital, Coatue | Not disclosed | |
Series A | Feb 2020 | $15M | Founders Fund | Not disclosed | |
Seed | Aug 2019 | $7M | Keith Rabois (Founders Fund) | $25M pre-money |
Ramp’s only down round came in August 2023: “today’s valuation is lower than our peak in late 2021,” Glyman wrote (Ramp). Amounts differ slightly in Ramp’s SEC filings, which record the shares actually sold; the table uses the announced figures.
What does Ramp make? Products
Ramp started in 2019 with a corporate card that gave 1.5% cash back and came with spend-management software (Ramp). It now sells a finance platform: cards, expense management, bill pay, procurement, travel booking, accounting automation, a business account and investment account (Ramp Treasury), accounts receivable, and AI agents that review spend, pay bills and do bookkeeping (Ramp) (Ramp). Ramp Plus is its paid software tier (Ramp).
It also publishes data. The Ramp AI Index tracks how many US businesses pay for AI tools (Ramp), and the Ramp Economics Lab studies company spending (Ramp).
Date | Launch or acquisition | Source |
|---|---|---|
Oct 20, 2026 | Acquires Vesto, multi-bank treasury software | |
Oct 13, 2026 | Glass, an AI workspace | |
Sep 22, 2026 | Accounts receivable | |
Sep 15, 2026 | Launches in the UK | |
Jul 28, 2026 | Launches in Canada and opens a Toronto office | |
Mar 16, 2026 | Acquires Juno, for guest travel | |
Mar 13, 2026 | Acquires Billhop, a payments company licensed in the UK and Sweden | |
Oct 6, 2025 | Hires the Jolt AI team | |
Jul 10, 2025 | Its first AI agents | |
Jan 22, 2025 | Ramp Treasury | |
Jun 4, 2024 | Travel booking | |
Jan 30, 2024 | Acquires Venue, a procurement startup | |
Aug 1, 2023 | Ramp Plus, the paid tier | |
Jun 26, 2023 | Acquires Cohere.io, an AI customer-support startup | |
Oct 25, 2021 | Bill Pay | |
Aug 24, 2021 | Acquires Buyer, a negotiation service | |
Aug 11, 2020 | Expense management | |
Feb 12, 2020 | Public launch of the Ramp card |
Ramp vs Brex, American Express and BILL
Ramp’s closest rival was Brex, which Capital One agreed to buy in January 2026 for $5.15 billion, well below Brex’s $12.3 billion valuation of 2022 (Ramp); the deal closed on April 7, 2026 (SEC). BILL, the public bill-pay company, had $1.65 billion of revenue in the year to June 2026, up 13% (SEC). Navan, the travel and expense company, had $702 million in the year to January 2026 (SEC), and Expensify $142 million in 2025 (SEC). In 2021 a third of Ramp’s customers had switched from American Express (Ramp).
Ramp publishes its own comparisons with Brex, American Express, BILL, Navan, Expensify, Mercury.
Who is the CEO of Ramp?
Ramp has two co-CEOs, its co-founders Eric Glyman and Karim Atiyeh. Glyman was CEO from 2019 and Atiyeh CTO until June 25, 2026, when both took the co-CEO title: “If you know us, this won’t feel like a change,” Glyman wrote. Rahul Sengottuvelu, who had led applied AI, became CTO (Ramp). Glyman and Atiyeh met at Harvard and had already built Paribus, which Capital One bought in 2016 (TechCrunch).
Person | Role | Source |
|---|---|---|
Eric Glyman | Co-founder and co-CEO; CEO from 2019 to June 2026 | |
Karim Atiyeh | Co-founder and co-CEO; CTO until June 2026 | |
Gene Lee | Co-founder; head of growth engineering, per Forbes | |
Rahul Sengottuvelu | CTO since June 2026; joined with the 2023 Cohere.io acquisition | |
Will Petrie | Chief financial officer; joined in December 2022 from Instacart | |
Geoff Charles | Chief product officer | |
Colin Kennedy | Chief business officer; formerly ran partnerships at Stripe |
Full bios and contact routes: Ramp CEOs Eric Glyman and Karim Atiyeh: email, LinkedIn and bio.
Where is Ramp based?
New York. Ramp Business Corporation’s address is 28 West 23rd Street, Floor 2, New York, NY 10010 (Ramp). It opened an office in San Francisco in 2025 (CNBC) and one in Toronto in 2026 (Ramp), and said in March 2026 that it would open its first international offices in London and Stockholm (Ramp). In 2022 it announced plans for a Miami office (Ramp).
Its latest company headcount is “more than 1,000” people, from June 2025 (CNBC); Ramp hasn’t given a newer figure, and outside estimates for 2026 vary widely.
What is Ramp’s email format?
Ramp staff use two formats about equally: {first}.{last}@ramp.com and {f}{last}@ramp.com, such as maya.chen@ramp.com and mchen@ramp.com for a fictional Maya Chen. Ramp has used ramp.com since 2020; before that it was tryramp.com.
Need | Official address |
|---|---|
Support | support@ramp.com, or 855-206-7283 |
Sales | A demo form; no sales inbox |
Press | press@ramp.com |
Security reports | security-external@ramp.com |
Privacy | privacy@ramp.com |
All patterns and official inboxes: Ramp email format.
Key events
Date | Event |
|---|---|
Oct 15, 2026 | Raises $1.85B at $60B; over $2B annualized revenue and 85,000+ customers (Ramp) |
Sep 15, 2026 | Launches in the UK (Ramp) |
Jul 28, 2026 | Launches in Canada (Ramp) |
Jun 25, 2026 | Glyman and Atiyeh become co-CEOs; Rahul Sengottuvelu becomes CTO (Ramp) |
Jun 4, 2026 | Series F: $750M at $44B (Ramp) |
Apr 7, 2026 | Capital One completes its purchase of Brex, Ramp’s main rival (SEC) |
Mar 13, 2026 | Buys Billhop and announces its move into Europe (Ramp) |
Nov 17, 2025 | Valued at $32B; revenue doubled in a year to over $1B (Ramp) |
Sep 9, 2025 | Reports over $1B in annualized revenue (Ramp) |
May 2025 | ProPublica reports on Ramp’s talks with the GSA about a federal card pilot; a congressman asks questions (ProPublica) (Banking Dive) |
Feb 2025 | Its first Super Bowl ad (Ramp) |
Aug 22, 2023 | Raises $300M at $5.8B, below its 2022 valuation (Ramp) |
Jun 21, 2023 | Named to TIME’s list of the 100 most influential companies (Ramp) |
Mar 21, 2022 | Valued at $8.1B after $750M of equity and debt (Ramp) |
Apr 2021 | Becomes a unicorn at $1.6B, two years after it was founded (Ramp) |
Feb 12, 2020 | Launches publicly (TechCrunch) |
Mar 2019 | Founded in New York (Ramp) |
More on Ramp and similar companies
Ramp email format: the pattern and official inboxes
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