Ramp Business Corporation
Company History
Ramp History: Founding, Growth & Key Milestones
Founded 2019 in New York City, New York, United States
When was Ramp founded?
Ramp was founded in 2019 in New York City, New York, United States by Eric Glyman, Karim Atiyeh and Gene Lee, making it 7 years old.
- Founded
- 2019
- Founding place
- New York City, New York, United States
- Founders
- Eric Glyman, Karim Atiyeh and Gene Lee
- Headquarters today
- New York, New York, United States
- Milestones documented
- 10 (2019–2026)
- Current CEO
- Eric Glyman
- Acquisitions
- 3
| Year | Event |
|---|---|
| 2019 | Ramp founded in New York |
| 2020 | Public launch and Series A |
| 2021 | Unicorn and $3.9B valuation |
| 2021 | Acquired Buyer |
| 2022 | $100M annualized revenue, $8.1B valuation |
| 2023 | Series D at $5.8B and procurement launch |
| 2023 | Acquired Cohere.io |
| 2024 | $7.65B valuation, ~$300M revenue run rate |
| 2025 | $1B annualized revenue and $32B valuation |
| 2026 | $750M Series F at $44B |
- Where was Ramp founded?
- Ramp was founded in New York City, New York, United States in 2019.
- Who founded Ramp?
- Ramp was founded by Eric Glyman, Karim Atiyeh and Gene Lee.
- When did Ramp start?
- Ramp was founded in 2019.
- How old is Ramp?
- Ramp is 7 years old as of 2026.
Founding Story
Eric Glyman and Karim Atiyeh met at Harvard and in 2014 co-founded Paribus, an app that got shoppers refunds when prices dropped. Capital One acquired Paribus in 2016, and the pair spent time inside the bank. After talking with roughly 100 finance leaders, they concluded that corporate cards and expense software rewarded spending rather than saving. In March 2019 they started Ramp with Gene Lee, launching publicly in February 2020 with a Series A led by Founders Fund.
Founders
Eric Glyman
Eric Glyman is co-founder and CEO of Ramp. After selling Paribus to Capital One, he co-founded Ramp in 2019 and has led it from its 2020 launch to more than $1 billion in annualized revenue and a $44 billion valuation in 2026. He has framed Ramp's mission around helping businesses spend less and, more recently, around automating finance work with AI. Eric Glyman was born in 1990.
Karim Atiyeh
Karim Atiyeh is co-founder and CTO of Ramp, responsible for the engineering behind its card platform, transaction processing and automation software. He previously co-founded Paribus with Eric Glyman and worked at Capital One after its 2016 acquisition. (Exact birth year remains publicly undisclosed).
Gene Lee
Gene Lee co-founded Ramp in 2019. Having previously founded (and sold) Paribus alongside Eric Glyman, Lee served as the absolutely critical technical architect during Ramp's inception. He built the incredibly robust, highly complex backend required to issue millions of corporate cards and track real-time transactions across massive enterprise accounting systems without failure. (Exact birth year remains publicly undisclosed).
Key Milestones
Ramp founded in New York
Eric Glyman, Karim Atiyeh and Gene Lee founded Ramp in March 2019.
Source: en.wikipedia.orgPublic launch and Series A
Ramp launched in February 2020 and raised about $15 million in a Series A led by Founders Fund.
Source: en.wikipedia.orgUnicorn and $3.9B valuation
A $115 million Series B in April 2021 valued Ramp at $1.6 billion; a $300 million Series C in August valued it at about $3.9 billion.
Source: cnbc.com$100M annualized revenue, $8.1B valuation
Ramp reached $100 million in annualized revenue by early 2022 and was valued at $8.1 billion.
Source: en.wikipedia.orgSeries D at $5.8B and procurement launch
Raised $300 million at a $5.8 billion valuation in August 2023 and expanded into procurement.
Source: en.wikipedia.org$7.65B valuation, ~$300M revenue run rate
Raised $150 million co-led by Khosla Ventures and Founders Fund at $7.65 billion; annualized revenue reached about $300 million.
Source: techcrunch.com$1B annualized revenue and $32B valuation
Valued at $13B (March), $16B (June), $22.5B (July) and $32B (November, Lightspeed-led); passed $1 billion in annualized revenue.
Source: en.wikipedia.org$750M Series F at $44B
Raised $750 million in June 2026 led by ICONIQ Growth, GIC and Ontario Teachers'; reported in September to be in talks at about $60 billion.
Source: cnbc.comMajor Acquisitions
Buyer
2021Negotiation-as-a-service startup that helped companies negotiate software contracts.
Cohere.io
2023AI customer-support automation startup (unrelated to the LLM company Cohere).
Venue
2024AI procurement and vendor-management startup.
Keep researching Ramp
Ramp Company History FAQ
What are the major historical milestones in the evolution of Ramp?
Key milestones: founded March 2019; launched February 2020; $3.9B valuation in August 2021; $100M annualized revenue by early 2022; procurement launch and $5.8B Series D in 2023; $7.65B valuation in 2024; $1B annualized revenue and $32B valuation in 2025; $44B valuation in June 2026.
How did Ramp launch its public corporate card in February 2020 on the eve of the pandemic?
Ramp launched publicly in February 2020, offering the first corporate card with automated spend controls. When COVID-19 hit weeks later and businesses desperately needed to slash operating expenses, Ramp's automated duplicate-subscription finder and 1.5% cashback card experienced viral adoption.
How did Ramp become the fastest fintech in history to reach $100M in ARR?
Through exceptional product-led growth, word-of-mouth recommendations among finance leaders, and launching adjacent products (Bill Pay, Reimbursements, Vendor Management), Ramp reached $100 million in Annualized Recurring Revenue (ARR) faster than almost any SaaS or fintech company in Silicon Valley history.
How did the launch of Ramp Bill Pay in 2021 transform the accounts payable market?
In October 2021, Ramp introduced Bill Pay, allowing finance teams to upload invoices, use AI OCR to extract line items, route approvals with custom rules, and issue payments via ACH or check in one click, directly challenging legacy accounts payable giant Bill.com.
What is Ramp's strategic vision for the future of enterprise finance?
Ramp is pioneering 'Autonomous Finance', a future where finance software operates smoothly in the background, autonomously eliminating wasteful spending, optimizing working capital, paying vendor invoices instantly, and allowing finance executives to focus 100% on strategic growth.
When and where was Ramp founded?
Ramp was founded in March 2019 in New York City by serial entrepreneurs Eric Glyman and Karim Atiyeh, alongside founding engineer Gene Lee.
What company did the founders build prior to Ramp?
Before Ramp, Eric Glyman and Karim Atiyeh founded Paribus, an automated price-tracking and price-drop refund startup that was acquired by Capital One in 2016, giving the founders deep insights into legacy credit card economics.
What counterintuitive thesis did Ramp launch with in 2020?
While traditional credit cards encouraged businesses to spend more to earn reward points, Ramp launched in February 2020 with the explicit mission to help companies "spend less", using software to identify wasted recurring software subscriptions and duplicate vendor contracts.
How fast did Ramp reach $100 million in Annual Recurring Revenue (ARR)?
Ramp reached $100 million in annualized revenue in less than three years from commercial launch, making it one of the fastest-growing enterprise SaaS and fintech companies in history.
What was Ramp’s landmark valuation progression?
Ramp raised venture funding from Founders Fund, D1 Capital Partners, Stripe, and Thrive Capital, growing from a $1.6 billion valuation in April 2021 to $8.1 billion in March 2022, and securing $150M at a $7.65B valuation in 2024.
How did Ramp expand beyond corporate cards into spend management?
Ramp quickly built out Ramp Bill Pay (accounts payable automation), vendor contract management, travel booking, employee expense reimbursements, and automated accounting sync with ERPs like NetSuite and QuickBooks.
What acquisitions has Ramp completed to enhance its platform?
Ramp acquired buyer-intelligence startup Buyer in 2021 to launch automated vendor contract negotiations, customer-support AI startup Cohere.io in 2023, and procurement platform Venue in 2024.
How did the regional banking crisis of 2023 impact Ramp?
During the collapse of Silicon Valley Bank (SVB) in March 2023, thousands of venture-backed startups rushed to Ramp to establish immediate treasury redundancy and access working capital, driving record customer acquisition.
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