Svmuu News: Enterprise-level AI payment and financial management platform Ramp announced the completion of a new $750 million funding round, achieving a post-investment valuation of $44 billion. The round was led by ICONIQ, GIC, and Ontario Teachers' Pension Plan, with participation from Goldman Sachs Alternatives, D.E. Shaw, Morgan Stanley Investment Management, Generation Investment Management, Insight Partners, and others.
Ramp stated that the company is expanding its business into the field of AI cost management, launching an AI Token expenditure management tool to help enterprises monitor and control spending related to large models and AI services. Over the past few months, Ramp has completed two acquisitions: Billhop, a UK and European payment platform, and Juno, a business travel platform. Additionally, it has deepened its long-term partnership with Visa to enable AI agents to autonomously execute corporate payments within a real-time risk control framework.
Ramp revealed that its internal AI tools have achieved a 99.5% employee adoption rate, and its internal development platform, Inspect, now generates over two-thirds of the company's code. The company plans to use this funding round to further expand its product lineup and accelerate its expansion into the UK and European markets. (PRNewswire)