Funding round
Ramp Series C
Ramp, which works in corporate financial platform solutions in New York, raised $300M in a Series C round announced on 24 Aug 2021, led by Founders Fund, at a $3.90B post-money valuation. 15 firms took part, 15 of them already investors. It is Ramp's fifth venture round on record; the one before was a Series B in Apr 2021.
$300M
Amount raised
$3.90B
Post-money valuation
$3.60B pre-money
15
Investors
1 lead
2.4x
Step-up from the Series B
$1.60B in Apr 2021
7.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Ramp at $3.90B after the new money, 2.4 times the $1.60B of its Series B (Apr 2021). The $300M bought investors about 7.7% of the company. It came 4 months after Ramp's Series B. It is 7.5% of the $4.01B Ramp has raised in the venture rounds on record. Ramp raised again 24 months later: a Series D round of $300M in Aug 2023, at $5.80B post-money.
Ramp's funding rounds
Ramp has 11 venture rounds on record and 3 other deals. This one is highlighted.
- Seed 28 Jun 2019 $8.0M
- Series A 15 Jan 2020 $16M
- Growth 12 Feb 2020 $25M
- Debt not a venture round 10 Feb 2021, led by Goldman Sachs $150M
- Series B 8 Apr 2021, led by D1 Capital Partners and Stripes $115M$1.60B post-money
- Series C this round 24 Aug 2021, led by Founders Fund $300M$3.90B post-money
- Debt not a venture round 21 Mar 2022 $550M
- Debt not a venture round 23 Mar 2022, led by Founders Fund $750M$8.10B post-money
- Series D 21 Aug 2023 $300M$5.80B post-money
- Growth 17 Apr 2024, led by Khosla Ventures and Founders Fund $150M$13.00B post-money
- Series E 17 Jun 2025, led by Founders Fund $200M$16.00B post-money
- Growth 17 Nov 2025, led by Lightspeed Venture Partners $300M$32.00B post-money
- Growth 4 Jun 2026, led by GIC, Iconiq Capital and Ontario Teachers’ Pension Plan $750M$44.00B post-money
- Growth 15 Oct 2026, led by Dragoneer Investment Group, Thrive Capital and Founders Fund $1.85B$60.00B post-money
Investors
Who put money in
Founders Fund led the round with 14 other firms. Founders Fund, Redpoint Ventures, Thrive Capital and D1 Capital Partners and 11 more had backed Ramp before.
Lead investor
- Founders Fund backs 368 venture-backed companies existing investor
Also in the round
- Redpoint Ventures backs 194 venture-backed companies existing investor
- Thrive Capital backs 130 venture-backed companies existing investor
- D1 Capital Partners existing investor
- Spark Capital backs 234 venture-backed companies existing investor
- Coatue backs 229 venture-backed companies existing investor
- Iconiq existing investor
- Altimeter backs 67 venture-backed companies existing investor
- Stripes backs 101 venture-backed companies existing investor
- Vista Equity Partners backs 43 venture-backed companies existing investor
- Lux Capital backs 194 venture-backed companies existing investor
- backs 4 venture-backed companies existing investor
- Definition Capital existing investor
- Honeycomb existing investor
- backs 3 venture-backed companies existing investor
Comparable rounds
How it compares
494 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 4.8 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Grafana Labs Tech Companies | 24 Aug 2021 | $220M | $3.00B | Sequoia Capital and Coatue |
| OneStudyTeam Tech Companies | 11 Aug 2021 | $220M | $2.20B | Coatue |
| Cribl Tech Companies | 25 Aug 2021 | $200M | $1.50B | Greylock Partners and Redpoint Ventures |
| Tech Companies | 26 Aug 2021 | $100M | $1.00B | Headline |
| Tech Companies | 25 Aug 2021 | $100M | not disclosed | Honor Ventures |
| Tech Companies | 24 Aug 2021 | $100M | not disclosed | Highland Europe and Brookfield Technology Partners |
| Tech Companies | 10 Aug 2021 | $100M | $1.00B | Insight Partners |
| Tech Companies | 31 Aug 2021 | $75M | not disclosed | SoftBank Vision Fund |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Ramp raise in its Series C round?
Ramp raised $300M in its Series C round, announced in Aug 2021.
Who led Ramp's Series C round?
Founders Fund led it, with Redpoint Ventures, Thrive Capital, D1 Capital Partners, Spark Capital and Coatue and 9 more.
What was Ramp's valuation at the Series C round?
$3.90B post-money ($3.60B pre-money).
How does it compare with other Series C rounds in Tech Companies?
494 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 4.8 times the median.
Did Ramp raise again after this round?
Yes: a Series D round in Aug 2023 of $300M at $5.80B post-money.