Corporate spend platform Ramp raises $1.85B Series G at $60B valuation on Oct 15, doubling down on AI agents
Dragoneer-led $1.85B round; Ramp ARR passes $2B with valuation doubling in 4 months; new AI agent cost control product Router.com cuts inference costs up to 40%.
On October 15, corporate spend management platform Ramp announced a $1.85B Series G at a $60B pre-money valuation, led by Dragoneer Investment Group, co-led by Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth, with Capital International, Fidelity, T. Rowe Price, GIC, and others participating. Total equity raised reaches approximately $5B.
Ramp also disclosed operational metrics: annualized revenue passed $2B, up from $1.5B four months ago; enterprise customers grew from 50,000 at the start of the year to 70,000 in June to 85,000 today; annualized purchase volume processed $275B, up 175% year-over-year. Ramp's valuation climbed from $16B in June 2025 to $32B in November, $44B in June, and $60B now.
The round announcement centers AI agent cost management, with Ramp upgrading its June Token Spend Management product and launching Router.com, which routes inference requests by performance and cost with claimed up to 40% inference cost reduction. Ramp also launched Ramp Accounts Receivable automating the contract-to-cash flow and Glass, a collaborative AI workspace. AngelList reports cutting monthly AI spend by 17.5% via Token Spend Management; Serval's CTO said Router cut coding agent inference costs nearly in half.