Ramp says annualized revenue passed $2 billion, up from a reported $1.5 billion in June
- Amount
- $2.0B
- Place in VP50
- #14
- Sources
- 5
- Claims verified
- 8 of 8
What happened
Ramp said on October 15, 2026 that its annualized revenue had passed $2 billion with positive cash flow, according to the company's press release and blog post. TechCrunch reported that the figure compared with a reported $1.5 billion in June. The release said annualized revenue includes interchange, subscription, interest and other revenue and excludes incentives to customers. It is a company-reported figure. Ramp also said its revenue was growing 25% faster than at the same time last year.
The company announced the figure alongside a $1.85 billion primary financing round at a $60 billion valuation, led by Dragoneer Investment Group with Thrive Capital, Founders Fund, Sands Capital and Avenir Growth as co-leads. Ramp said more than 85,000 companies used its platform, up from 70,000 in June per TechCrunch, and that annualized purchase volume was above $275 billion, up 175% year over year. The release dated its key statistics to October 1, 2026. Capital Brief reported the valuation as 36% above the previous $44 billion mark and gave the round as USD1.8 billion, against $1.85 billion in the release.
Key points
- Annualized revenue passed $2 billion, up from a reported $1.5 billion in June, with positive cash flow.123
- More than 85,000 companies use Ramp, up from 70,000 in June.12
- Annualized purchase volume is above $275 billion, up 175% year over year.12
- The figures came with a $1.85 billion round at a $60 billion valuation, up 36% from $44 billion.124
Why it matters
A company-reported run rate above $2 billion, against a reported $1.5 billion in June, is the operating base for the $60 billion valuation, which rose from $44 billion over about four months.
Ramp counts interchange, subscription, interest and other revenue and excludes customer incentives. How the valuation reads against revenue depends on that definition.
The $1.85 billion was a primary financing, so the sources describe new money to the company. They do not describe liquidity for employees or early holders.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series B | Apr 8, 2021 | $1.6B | $115M | D1 Capital Partners and Stripe |
| Series C | Aug 24, 2021 | $3.9B | $300M | Founders Fund |
| Series C extension | Mar 21, 2022 | $8.1B | $200M | Founders Fund |
| Series D | Aug 21, 2023 | $5.8B | $300M | Sands Capital and Thrive Capital |
| Series D-2 | Apr 16, 2024 | $7.7B | $150M | Founders Fund and Khosla Ventures |
| Series E | Jun 17, 2025 | $16B | $200M | Founders Fund |
| Series E-2 | Jul 30, 2025 | $23B | $500M | ICONIQ |
| Funding round | Nov 17, 2025 | $32B | $300M | Lightspeed Venture Partners |
| Series F | Jun 4, 2026 | $44B | $750M | GIC, ICONIQ, and Ontario Teachers' Pension Plan |
Updated
Fact-check
- Ramp's annualized revenue passed $2 billion with positive cash flow, announced on October 15, 2026.Confirmed by [1] PR Newswire (Ramp): more than $2 billion in annualized revenue with positive cash flow, dated October 15, 2026. Also in [2] TechCrunch. [3] Ramp's blog says it passed $2 billion over the summer.Verified
- The prior annualized revenue figure was a reported $1.5 billion in June.Confirmed by [2] TechCrunch (up from a reported $1.5 billion in June) and [4] Capital Brief (USD1.5 billion in June). Ramp's own release does not state the prior figure.Verified
- Ramp's revenue was growing 25% faster than at the same time last year.Confirmed by [1] PR Newswire (Ramp) and [2] TechCrunch. The release does not give the base growth rate.Verified
- More than 85,000 companies use Ramp, up from 70,000 in June.Confirmed by [1] PR Newswire (Ramp): more than 85,000 companies. [2] TechCrunch adds 70,000 in June. [3] Ramp's blog also says 85,000 businesses.Verified
- Annualized purchase volume is above $275 billion, up 175% year over year.Confirmed by [1] PR Newswire (Ramp), [2] TechCrunch and [4] Capital Brief.Verified
- The release's key statistics are as of October 1, 2026.Confirmed by [1] PR Newswire (Ramp): key stats as of October 1, 2026.Verified
- Ramp raised a $1.85 billion primary round at a $60 billion valuation, led by Dragoneer.Confirmed by [1] PR Newswire (Ramp) and [2] TechCrunch. [4] Capital Brief rounds the round to USD1.8 billion.Verified
- The valuation is up 36% from $44 billion, set about four months earlier.Confirmed by [4] Capital Brief: up 36% from USD44 billion. [2] TechCrunch: four months after raising $750 million at a $44 billion valuation.Verified
Sources
- [1]PR Newswire (Ramp) (opens in a new tab)Ramp Reaches $60 Billion Valuation as Annualized Revenue Tops $2 Billion
- [2]TechCrunch (opens in a new tab)Ramp reaches $60B valuation as it pushes deeper into AI
- [3]Ramp (opens in a new tab)Ramp at $60B: The End of the BeginningChapter 1 was about what we could build. Chapter 2 is about what you can.
- [4]Capital Brief (opens in a new tab)Ramp valuation jumps 36% to USD60 billion in latest funding round
- [5]Bloomberg (opens in a new tab)Ramp Completes Funding at $60 Billion Value as Revenue Surges
