Ramp's Jaw-Dropping Milestone!

On Tuesday, Ramp, the innovative expense management startup, revealed a stunning achievement: it has reached an impressive $1 billion in annualized revenue! This announcement comes just 45 days after the company was valued at a staggering $22.5 billion in its latest funding round, which was a significant jump from its previous $16 billion valuation.

A Meteoric Rise in Revenue!

Annualized revenue is calculated based on a company’s revenue over a specific period projected over an entire year. Back in March, co-founder and CEO Eric Glyman shared with TechCrunch that Ramp had been generating $700 million in annualized revenue. Fast forward just six months, and they've skyrocketed with an additional $300 million — an extraordinary growth rate!

Funding That Fuels Growth!

Ramp, known for its cutting-edge corporate expense management and financial software tools, secured $500 million during its recent funding round, led by the powerhouse Iconiq Growth and supported by other investors like Founders Fund and D1 Capital Partners. To date, the company has raised an eye-popping $1.9 billion in total funding.

A Bright Future Ahead!

In addition to these developments, Glyman noted that Ramp is also cash-flow positive, indicating a strong financial foundation that could propel further growth. With its innovative solutions and impressive revenue figures, Ramp is set to make a significant impact in the expense management industry.