Ramp Hits $3.9 Billion Valuation With Series C Round
Palo Alto – August 26, 2021 – Cooley advised Ramp, a fintech company with a finance automation platform designed to help businesses save time and money, on its $300 million Series C financing. Lawyers Seth Gottlieb, Sepideh Mousakhani and Scott Baird led the Cooley team advising Ramp on the round, which brings the company’s valuation to $3.9 billion.
Founders Fund led the round, which also included Redpoint, D1 Capital Partners, Coatue, Spark Capital, Stripe, BoxGroup, Conversion Capital and Lux Capital, as well as new investors Iconiq Capital, Altimeter Capital, Vista Public Strategies, A* Partners, Definition Capital, Honeycomb, Flexport, Lachy Groom Fund, Olive Tree and Kinetic. Ramp will use the new capital to build finance automation that will help companies save even more time and money.
“I’m incredibly proud of how much we’ve accomplished since day 0 of Ramp,” Eric Glyman, co-founder and chief executive officer of Ramp, said in a blog post. “I’m also keenly aware of how much further we have to go to transform the way companies manage and spend their money. With our new funding, our team will be accelerating our pace of innovation.”
Cooley advised Ramp earlier this year on its Series B financing round, which propelled the company to unicorn status.
Founded in 2019, Ramp is on a mission to increase the lifespan of businesses with intelligence and automation. To date, Ramp has helped over 2,000 businesses eliminate $16 million in wasteful spend, eliminate expense reports and streamline financial operations to close their books 86% faster.
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