Introduction
Ramp is a financial operations platform offering corporate cards, expense management, procurement, travel booking, and automated bookkeeping, positioned around the idea that a company’s spending infrastructure should actively help it save money rather than just record transactions. Founded in March 2019 by Eric Glyman, Karim Atiyeh, and Gene Lee — who previously built and sold the price-tracking app Paribus to Capital One — Ramp has grown into one of the fastest-scaling finance platforms in the U.S.
Ramp’s more recent pitch centers on AI agents that source vendors, run compliance checks, and reconcile expenses automatically, and on a specific new problem for finance teams: tracking and controlling spend on AI tools and API tokens, a category co-founder and CEO Eric Glyman has described as a “third pillar” of business spend alongside people and vendors.
What the company does
Ramp’s platform combines corporate charge cards with software for expense management, bill payment, procurement, and travel booking, and automates much of the reconciliation and bookkeeping that would otherwise require manual finance-team work. Its Procurement product uses AI agents to source vendors from a plain-language request, run security and compliance reviews on those vendors, pre-fill and flag purchase requests for policy violations, and track contract renewals with pricing benchmarks — work the company says previously required dedicated headcount.
Who it serves
Ramp serves finance and operations teams across a wide range of company sizes, from small businesses and startups to large enterprises; the company states that more than 70,000 organizations use its platform, ranging from family farms to Fortune 100 companies. Its 2026 Series F announcement noted that median customers see roughly 5% savings on expenses and 16% revenue growth in their first year on the platform, according to Ramp’s own figures.
Company background
Eric Glyman and Karim Atiyeh met as computer science classmates at Harvard University and, together with engineer Gene Lee, built Paribus, a price-tracking app acquired by Capital One in 2016; all three worked at Capital One before leaving together to found Ramp in March 2019. The company is headquartered in New York City, with additional offices in Miami and San Francisco. Ramp’s valuation rose rapidly through 2025 and into 2026: from roughly $13 billion in March 2025 to $16 billion after a June 2025 Series E round, to $22.5 billion the following month, and ultimately to $44 billion after a $750 million Series F round in June 2026 led by ICONIQ, GIC, and Ontario Teachers’ Pension Plan, per the company’s own funding announcement. That round brought Ramp’s total equity financing to more than $3 billion.
Product and AI capabilities
Ramp has built AI into most of its recent product launches: its AI Policy Agent, introduced in 2025, applies a company’s expense policies to transactions automatically to flag or approve spend without manual review, while its 2026 Procurement Agents research vendors from a plain-language description, generate RFx documents, score vendor responses, and run parallel compliance, security, and legal reviews before a purchase request reaches a human approver. Ramp has also emphasized automated bill-pay features that learn from an accounting team’s past invoice corrections and apply those patterns to future invoices from the same vendor. CEO Eric Glyman has framed a portion of this AI investment around helping finance teams manage a newer, harder-to-budget spending category: the cost of AI models and tokens used across a business.
Key developments
Ramp was founded in March 2019 by Eric Glyman, Karim Atiyeh, and Gene Lee. The company introduced its AI Policy Agent in 2025 and crossed $1 billion in annualized revenue by August of that year, according to Wikipedia’s sourced account of the company’s growth. In early 2026, Ramp launched a suite of AI Procurement Agents automating vendor sourcing, compliance checks, and contract renewals. On June 4, 2026, Ramp announced a $750 million Series F round led by ICONIQ, GIC, and Ontario Teachers’ Pension Plan at a $44 billion valuation — roughly a 38% step up from its prior round — with total purchase volume on the platform reported to have grown 170% year over year that March.
Why it matters
Ramp is a useful example of how AI is being applied not just to fraud detection or underwriting — the more common finance-AI use cases — but to internal spend control and procurement, areas that have historically depended on manual review by finance staff. Its framing of AI token spend as a new, largely unbudgeted cost category is also a relevant signal for how quickly enterprise AI adoption is changing what corporate finance teams need to track, independent of any single vendor’s technology.
Sector context
Within Brel’s AI in finance coverage, Ramp sits alongside other spend and payments infrastructure companies such as Stripe, though its focus on internal corporate spend control — rather than customer-facing payments or lending — sets it apart from underwriting-focused peers like Upstart and identity-verification vendors like Socure.
Sources and references
This profile draws on Ramp’s own Series F funding announcement, CNBC’s coverage of that announcement, and Wikipedia’s sourced company history.
- PR Newswire (Ramp) — “Ramp Raises Series F at $44 Billion Valuation” (2026)
- CNBC — “Ramp hits $44 billion valuation as companies look to rein in AI spend” (2026)
- Wikipedia — “Ramp (company)”