Ramp, an expense management startup, announced that its valuation has surged to $13 billion following a $150 million secondary share sale. Backed by major investors, Ramp has expanded its customer base to over 30,000 and doubled its enterprise business. The company reported a dramatic increase in payment volumes from $10 billion to $55 billion within a year. CEO Glyman credits AI for operational efficiencies while avoiding disclosure of current revenue figures, although Ramp continues to innovate in corporate cards and expense management.
"AI is fundamentally changing how businesses operate, and we're ensuring our customers are at the forefront of this transformation," Glyman said.
Ramp has grown to over 30,000 customers and that it more than doubled its enterprise business in the last year.
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