Company:Ramp
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| Type | Private |
|---|---|
| Industry | Financial technology |
| Founded | March 2019 |
| Founders | Eric Glyman (CEO) Karim Atiyeh (CTO) Gene Lee |
| Headquarters | New York City , New York, United States |
| Products | Corporate expense management platform, corporate credit cards |
Number of employees | 600 (2023)[1] |
| Website | ramp.com |
Ramp is a U.S.-based financial technology company that offers corporate cards, expense management, and bill payment software.[2] As of late 2023, the company was projected to process over $13 billion in payments annually.[3]
As of August 2023, Ramp was valued at $5.8 billion, down from a high of $8.1 billion. Investors in the company include Thrive Capital, Goldman Sachs, and Redpoint Ventures, among others.[4]
The company's headquarters are in the Flatiron District of Manhattan, New York City.[5]
History
Ramp was founded in March 2019 by Eric Glyman, Karim Atiyeh, and Gene Lee. Glyman and Atiyeh met as classmates at Harvard University and had previously founded price tracking app Paribus, which was acquired by Capital One in 2016.[6]
Glyman and Atiyeh talked with approximately 100 finance experts before launching Ramp's corporate card, finding that potential clients were unhappy with the inefficiency of existing methods for collecting receipts and logging expenses.[7]
The company was formally launched in February 2020[8] and reached $100 million in annualized revenue by early 2022.[2]
References
- ↑ "About Us - Different By Design" (in en). https://ramp.com/about-us.
- ↑ 2.0 2.1 "CNBC Disruptor 50 — 29. Ramp" (in en). CNBC. 9 May 2023. https://www.cnbc.com/2023/05/09/ramp-disruptor-50.html.
- ↑ Clark, Kate (17 August 2023). "Ramp’s Down Round and Why Startups Should Let Employees Cash Out". The Information. https://www.theinformation.com/articles/ramps-down-round-and-why-startups-should-let-employees-cash-out.
- ↑ Biswas, Pritam (22 August 2023). "Fintech firm Ramp raises $300 mln at lowered valuation of $5.8 bln". Reuters. https://www.reuters.com/markets/deals/fintech-firm-ramp-raises-300-mln-lowered-valuation-58-bln-2023-08-22/.
- ↑ Nehrign, Abigail (27 September 2023). "Fintech Startup Ramp Doubles Footprint With Move to 28-40 West 23rd Street". Commercial Observer. https://commercialobserver.com/2023/09/fintech-ramp-moves-28-40-west-23rd-street/.
- ↑ Li, Steven. "They Built Ramp Into An $8 Billion Company In Under 3 Years: The Inside Story Of How They Did It" (in en). https://www.forbes.com/sites/stevenli1/2022/11/14/they-built-ramp-into-an-8-billion-company-in-under-4-years-the-inside-story-of-how-they-did-it/.
- ↑ "How Ramp’s Eric Glyman went from “a sheet of paper” to a 13,000+ customer fintech business in less than four years (Cornell Tech @ Bloomberg) | Bloomberg" (in en-US). Bloomberg L.P.. 2023-05-30. https://www.bloomberg.com/company/stories/how-eric-glyman-ramp-sheet-paper-fintech-business-four-years-cornell-tech-bloomberg/.
- ↑ Son, Hugh (24 August 2021). "Corporate card start-up Ramp more than doubles valuation in five months to $3.9 billion" (in en). CNBC. https://www.cnbc.com/2021/08/24/corporate-card-start-up-ramp-more-than-doubles-valuation-in-five-months-to-3point9-billion.html.
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