Ramp hits $60bn valuation with $1.85bn funding round led by Dragoneer

Fintech startup Ramp has secured a substantial capital injection that raises its pre-money valuation to approximately $60 billion. According to sources cited by Techmeme, the company raised about $1.85 billion in this latest round. This significant financial event highlights the continued investor confidence in corporate spend management platforms amidst broader market fluctuations.

The investment was led by Dragoneer and Thrive Capital, two major venture capital firms. This round represents a marked increase from the company’s previous fundraising efforts earlier in the year. The valuation jump underscores the aggressive growth trajectory Ramp has maintained since its initial public offerings and private placements.

What we know

Ramp’s valuation has increased significantly since June of this year. In June, the company raised $750 million at a pre-money valuation of $44 billion, according to Bloomberg reporting referenced in the Techmeme summary. The latest round more than doubles the previous valuation figure, indicating strong demand for equity stakes in the business.

The $1.85 billion figure for the current round is substantially larger than the $750 million raised in June. This rapid escalation in both capital raised and company valuation suggests that investors view Ramp’s market position as highly valuable. The deal structure involves pre-money valuation metrics, which determine the company's worth before the new cash is added.

Dragoneer and Thrive Capital are identified as the lead investors in this specific transaction. Their participation signals institutional backing for Ramp’s financial technology model. The sources familiar with the matter provided these details to Bloomberg, which were then aggregated by Techmeme for wider distribution.

Defender's checklist

• Monitor financial news outlets for updates on major fintech funding rounds.
• Review corporate spending policies to ensure alignment with current market trends.
• Verify the identity of any communications claiming to be from Ramp executives.
• Check vendor security posture if Ramp is used for corporate expense management.

What to do and how to stay safe: Ramp

• Review your organisation's current fintech vendor contracts for valuation-based clauses.
• Ensure that financial data shared with expense management platforms is encrypted.
• Monitor for phishing attempts that may exploit the news of large funding rounds.
• Verify that access controls for financial systems remain strict and updated.

Step-by-step guide: Virtual Patching: Benefits, Limits and When to Use It

General security guidance from the TechWire Beat newsroom. It is not confirmed advice from the organisations named in this story.

Frequently asked questions

How much money did Ramp raise in its latest round?

Ramp raised approximately $1.85 billion in its latest funding round, according to sources.

What is Ramp's new valuation?

The company reached a roughly $60 billion pre-money valuation in this transaction.

Who led the investment in Ramp's latest round?

Dragoneer and Thrive Capital led the investment in this funding round.