Funding round
Ramp Series D
Ramp, which works in corporate financial platform solutions in New York, raised $300M in a Series D round announced on 21 Aug 2023, at a $5.80B post-money valuation. 6 firms took part, 5 of them already investors. It is Ramp's sixth venture round on record; the one before was a Series C in Aug 2021.
$300M
Amount raised
$5.80B
Post-money valuation
$5.50B pre-money
6
Investors
no lead named
1.5x
Step-up from the Series C
$3.90B in Aug 2021
5.2%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Ramp at $5.80B after the new money, 1.5 times the $3.90B of its Series C (Aug 2021). The $300M bought investors about 5.2% of the company. It came 24 months after Ramp's Series C. It is 7.5% of the $4.01B Ramp has raised in the venture rounds on record. Ramp raised again 8 months later: a Growth round of $150M in Apr 2024, at $13.00B 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 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 this round 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
6 firms took part; no lead investor was named.
Investors
- Thrive Capital backs 130 venture-backed companies existing investor
- General Catalyst backs 574 venture-backed companies existing investor
- Founders Fund backs 368 venture-backed companies existing investor
- Lux Capital backs 194 venture-backed companies existing investor
- Definition Capital existing investor
- Sands Capital backs 71 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
89 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $90M, and this round was 3.3 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 24 Aug 2023 | $235M | $4.50B | Salesforce Ventures |
| Tech Companies | 23 Aug 2023 | $110M | not disclosed | Riverwood Capital |
| Tech Companies | 29 Aug 2023 | $100M | $1.60B | Bain Capital Ventures |
| Tech Companies | 7 Aug 2023 | $100M | not disclosed | Intact Ventures |
| Tech Companies | 8 Aug 2023 | $54M | not disclosed | Macquarie |
| Anthropic Tech Companies | 1 Sep 2023 | $8.00B | not disclosed | Amazon |
| Tech Companies | 10 Sep 2023 | $229M | $900M | Kedaara Capital |
| Tech Companies | 1 Jun 2023 | $229M | not disclosed | Kedaara Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Ramp raise in its Series D round?
Ramp raised $300M in its Series D round, announced in Aug 2023.
Which investors took part in Ramp's Series D round?
Thrive Capital, General Catalyst, Founders Fund, Lux Capital, Definition Capital and Sands Capital.
What was Ramp's valuation at the Series D round?
$5.80B post-money ($5.50B pre-money).
How does it compare with other Series D rounds in Tech Companies?
89 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $90M, and this round was 3.3 times the median.
Did Ramp raise again after this round?
Yes: a Growth round in Apr 2024 of $150M at $13.00B post-money.