Spend administration startup Ramp introduced on Tuesday that it raised a $200 million Collection E led by its largest investor, Founders Fund, at a post-money valuation of $16 billion. It is a jaw-dropping $3 billion enhance over the $13 billion valuation Ramp introduced only a few months in the past in March, after a $150 million secondary share sale.
Its present valuation can also be greater than double the $7.65 billion Ramp hit slightly over a 12 months in the past when it raised $150 million at a $7.65 billion submit cash. CEO Eric Glyman is remaining mum about income figures, though in March he stated income had skilled “unimaginable progress” over the earlier figures it launched. In the summertime of 2023, he stated Ramp had handed $300 million in annualized income.
Different VCs, largely current traders, who participated within the Collection E spherical embody Thrive Capital, D1 Capital Companions, Normal Catalyst, GIC, ICONIQ Progress, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Progress, and Definition Capital.
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