Ramp raises $750 million, valuation climbs to $44 billion, increasing AI spending management

On June 4th, according to PR Newswire, Ramp, an enterprise spending management platform, announced the completion of a new round of financing totaling $750 million, with a post-financing valuation of $44 billion. This round was led by ICONIQ, GIC, and Ontario Teachers’ Pension Plan, with participation from Goldman Sachs, D.E. Shaw, and Morgan Stanley. Ramp stated that its TPV (Total Payment Volume) in March 2026 increased by approximately 170% year-over-year and that the funds will be used to expand AI-related products, including AI token spend management, Stack accounting AI operating system, and automated procurement and accounting agents. The company currently has annualized revenue exceeding $1 billion, annualized transaction volume of approximately $200 billion, serves over 70,000 customers, and maintains positive free cash flow.