A corporate spend-management platform that provides business credit cards along with software for expense management, accounting automation, and bill payment.
Named as a constituent of Morningstar PitchBook Unicorn 20 Index, Morningstar PitchBook Unicorn 30, Morningstar PitchBook Global Unicorn, Morningstar PitchBook US Unicorn 100, Morningstar PitchBook Global Artificial Intelligence Unicorn and Forge Accuidity Private Market Index — a fact about those indexes, not an endorsement.
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Funding roundsSecondary market price
Nearly tripled valuation within a year (Jun 2025 $16B to Jun 2026 $44B). TPV grew ~170% YoY as of Mar 2026. Talks for a ~$60B round were reported Sep 2026 but had not closed as of this writing.
Low: Revelio Labs, Mar 2026. High: Tracxn, Aug 2026.
As of 2026-09-13 · live via ashby's public job board · ≈3.4% of the 2,518–5,977 estimated team
+13 more roles across 7 other teams.
See all open roles at Ramp →Ramp issues corporate cards and builds the software around them: spending rules, bill payment, treasury accounts and AI-assisted expense review. Its cards run on Stripe Issuing, its payments go through partner banks, and its AI features run on OpenAI models. Its own patents centre on the real-time decision to approve or decline a card transaction.
| Date | Type | What |
|---|---|---|
| Apr 7, 2026 | Milestone | Continuation of the authorization-server patent, US 12,597,037, granted |
| Mar 16, 2026 | Acquisition | Juno |
| Mar 13, 2026 | Acquisition | Billhop |
| Jul 10, 2025 | Milestone | Ramp announced its first AI agents, for controllers, which it says are powered by OpenAI reasoning models and enforce expense policy |
| Feb 4, 2025 | Milestone | US 12,217,004 granted, titled Real-time named entity based transaction approval |
| Jan 22, 2025 | Milestone | Ramp Treasury announced: a deposit account provided by First Internet Bank of Indiana and a money-market account through Apex Clearing |
| Jan 9, 2024 | Milestone | US 11,869,011 granted: an authorizer server works from a filtered local replica to approve or decline within the card network's time limit |
| Aug 2023 | Acquisition | Venue (announced January 30, 2024) |
| Jun 26, 2023 | Acquisition | Cohere.io |
| May 18, 2023 | Milestone | Ramp Intelligence announced, using OpenAI's GPT-4 to extract data from software contracts and benchmark quotes against Ramp's purchasing data |
| 2023 | Milestone | Per a Stripe customer page, Ramp used Stripe Issuing for pound- and euro-denominated card programs in the UK and the European Economic Area |
| Jan 31, 2022 | Patent filed | US 12,530,686 Direct transaction data entry coding and integration |
| Aug 24, 2021 | Acquisition | Buyer |
| Jul 30, 2021 | Patent filed | US 12,086,876 User interface for recurring transaction management |
| Jun 17, 2021 | Milestone | Priority date of the patent family on a two-server, rule-based card authorization design |
| Jun 17, 2021 | Patent filed | US 11,869,011 Rule based transaction authorization server |
| Jun 17, 2021 | Patent filed | US 12,217,004 Real-time named entity based transaction approval |
| Jun 17, 2021 | Patent filed | US 12,597,037 Rule based transaction authorization server |
| Mar 2021 | Milestone | Bill Pay project began, per a Ramp engineering post; the team integrated JPMorgan's ACH API in place of NACHA files uploaded by SFTP |
| Feb 12, 2020 | Milestone | Corporate card launched publicly, with 1.5 percent cash back and software that analyzed a customer's payments to find savings |
| 2019 | Milestone | Ramp founded by Eric Glyman and Karim Atiyeh, who had previously built the price-tracking company Paribus |
Patents. The five listed patents, all assigned to Ramp Business Corp, centre on the card authorization decision, including a two-server design that approves or declines within the card network's response-time limit, plus recurring-transaction management and transaction data entry and coding.
Ramp Business Corporation was founded in 2019 by Eric Glyman and Karim Atiyeh, who had previously built the price-tracking company Paribus, which Capital One acquired. Ramp's corporate card launched publicly on February 12, 2020 with 1.5 percent cash back and software that analyzed a customer's payments to find savings. Its cards run on third-party issuing infrastructure: an undated Stripe customer page says Ramp chose Stripe as a partner shortly after its early-2020 launch, built custom authorization and transaction-processing logic on Stripe Issuing, and in 2023 used it for pound- and euro-denominated card programs in the UK and the European Economic Area.
Ramp's patents describe where its engineering sits in that stack: the authorization decision. US 11,869,011 (priority June 17, 2021; granted January 9, 2024) describes a two-server design in which a main server holds a client's rules and data while a separate authorizer server works from a filtered, locally stored replica so it can approve or decline within the card network's response-time limit; a continuation with the same title, US 12,597,037, was granted April 7, 2026. US 12,217,004 (granted February 4, 2025) is titled 'Real-time named entity based transaction approval'. Other grants cover a user interface for managing recurring transactions (US 12,086,876, granted September 10, 2024) and direct transaction data entry, coding and integration (US 12,530,686, granted January 20, 2026). Google Patents shows all five as active and records the assignee as Ramp Business Corp.
A 2023 Ramp engineering post describes the money-movement side. Ramp's legacy integration generated fixed-width NACHA files and uploaded them by SFTP to its partner bank JPMorgan. For Bill Pay, a project the post says began in March 2021, the team integrated JPMorgan's ACH API, using idempotency keys and webhooks, and built payments as an internal service inside its Python monolith. It abstracted providers and rails so that one call could route an ACH pull into a JPMorgan account, a paper check from an Increase account, or a euro SEPA payout from a Wise wallet. Ramp Treasury, announced January 22, 2025, adds a business deposit account provided by First Internet Bank of Indiana and a money-market investment account through Apex Clearing.
Ramp's AI features run on third-party models. Ramp Intelligence, announced May 18, 2023, uses OpenAI's GPT-4 to extract data from software contracts and benchmark quotes against Ramp's aggregated purchasing data, alongside an accounting copilot and automated expense coding. On July 10, 2025 Ramp announced its first AI agents, for controllers, which it says are powered by OpenAI reasoning models and enforce expense policy; the company says early customers reported 99 percent accuracy in expense approvals, measured in an internal analysis as agreement with human reviewers. Ramp has bought Buyer, a software-contract negotiation service (August 24, 2021); Cohere.io, an AI customer-support startup (June 26, 2023); Venue, a procurement startup it acquired in August 2023 and announced on January 30, 2024; Billhop, a Stockholm payments firm licensed in Sweden and the UK (March 13, 2026); and Juno, a guest-travel platform (March 16, 2026). Terms were not disclosed for Cohere.io or Juno.
Profile as of Sep 19, 2026.
| Round | Date | Valuation | Lead |
|---|---|---|---|
| Series F | 2026-06-04 | $44.0B+38% | Co-led by ICONIQ, GIC, and Ontario Teachers' Pension Plan |
| Series E-3 | 2025-11-17 | $32.0B+42% | Lightspeed Venture Partners |
| Series E-2 | 2025-07-30 | $22.5B+41% | ICONIQ Growth |
| Series E | 2025-06-14 | $16.0B+23% | Founders Fund |
| Secondary | 2025-03-01 | $13.0B | No single lead disclosed -- multi-investor secondary purchase (Thrive Capital, Khosla Ventures, General Catalyst, Stripes, GIC, Avenir Growth, Lux Capital, 137 Ventures, Definition Capital named as buyers) |
| Undisclosed round (SEC Form D) | 2024-04-25 | — | Not disclosed -- SEC Form D lists only the company's own officers/directors, not the investor(s) |
| Undisclosed round (SEC Form D) | 2023-08-22 | — | Not disclosed -- SEC Form D lists only the company's own officers/directors, not the investor(s) |
| Undisclosed round (SEC Form D) | 2021-12-30 | — | Not disclosed -- SEC Form D lists only the company's own officers/directors, not the investor(s) |
| Undisclosed round (SEC Form D) | 2021-08-06 | — | Not disclosed -- SEC Form D lists only the company's own officers/directors, not the investor(s) |
| Undisclosed round (SEC Form D) | 2021-03-17 | — | Not disclosed -- SEC Form D lists only the company's own officers/directors, not the investor(s) |
| Undisclosed round (SEC Form D) | 2020-08-31 | — | Not disclosed -- SEC Form D lists only the company's own officers/directors, not the investor(s) |
| Undisclosed round (SEC Form D) | 2020-01-15 | — | Not disclosed -- SEC Form D lists only the company's own officers/directors, not the investor(s) |
| Undisclosed round (SEC Form D) | 2019-06-28 | — | Not disclosed -- SEC Form D lists only the company's own officers/directors, not the investor(s) |
| Status | in early talks, not yet closed |
|---|---|
| Target valuation | $60.0B |
| Details | In early talks for a ~$1B primary round at roughly $60B valuation, up from the $44B Series F just three months earlier. Some outlets informally call this 'Series G,' but that label is not confirmed by Ramp or the original report. Ramp declined to comment. |
| Source | Bloomberg, Sep 8 2026 |
These are on the public record as giving exposure to Ramp. Buying one means owning a stake in the vehicle, not in Ramp, and the vehicle takes fees along the way.
| Vehicle | How you get exposure | Share of the vehicle | Who can buy |
|---|---|---|---|
| Fundrise Innovation Fund, LLC Non-listed closed-end fund | Held directly | 4.76% of the fund | US investors, through the sponsor's platform. Not exchange-traded. |
| T. Rowe Price Science and Technology Fund Open-end mutual fund | Held directly | 0.05% of the fund | US investors, through a broker or directly from the manager. |
| Stableton Morningstar PitchBook Unicorn 20 Certificate or fund, by country | Through the index it tracks one of 19 constituents of Morningstar PitchBook Unicorn 20 Index | — | Not published |
On the public record means the vehicle exists in a regulatory filing or a public product document. It does not mean PrePost has vetted it, or checked that it suits you. What each of these really is, and what comes off your return, is in the instruments primer.
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| Status | S-1 Not Filed |
|---|---|
| Kalshi | Under 50% odds through Jun 1, 2027 (as of Sep 13, 2026 · market) |
| Timing | 'IPO ready' by end of 2026 (readiness target, not a listing date) |
| Notes | CEO Eric Glyman says Ramp plans to go public rather than be acquired; the company is reportedly building public-company-grade financial/compliance infrastructure ahead of a potential listing. |
| Source | Benzinga, May 2026 (via secondary summaries); Curved Trading, Jul 2026 |
Polymarket/Kalshi rows are live market-implied odds, not a PrePost prediction; everything else is a cited news signal. PrePost doesn't publish its own IPO forecast.