Ramp Secures $750 Million in Funding to Support Rapid Growth

Palo Alto – March 23, 2022 – Cooley advised Ramp, a finance automation platform that helps businesses spend less time and money, on its raise of $750 million in funding, which brings the company’s valuation to $8.1 billion. Lawyers Seth Gottlieb, Sepideh Mousakhani, Scott Baird and Monica Rosenkranz led the Cooley team advising Ramp.

The raise includes $200 million in equity funding led by Founders Fund, with participation from all major existing investors, alongside new investors and technology industry leaders. Ramp also secured $550 million in debt financing, including from Citi and Goldman Sachs, to support the company’s rapid scaling. The new funding will accelerate Ramp’s development of its platform following its release of a travel product and features that fully automate expense management.

“We are pursuing an extraordinary opportunity to overhaul an industry that historically has been misaligned and out-of-touch with the needs of its customers,” Eric Glyman, co-founder and CEO of Ramp, said in a press release. “With this funding, we will continue to help even more businesses manage their money easier, faster and smarter.”

In 2021, Cooley advised Ramp on its Series B financing round, which propelled the company to unicorn status, as well as its Series C financing round.

Founded in 2019, Ramp is building the next generation of finance tools – from corporate cards and expense management to bill payments and accounting integrations – designed to save businesses time and money. With 5,000+ businesses on its platform, Ramp is powering more than $5 billion in annualized payments volume and saw its revenue grow by nearly 10 times in 2021.

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