Our Partnership with Ramp

When we first partnered with Ramp in 2020, Eric and Karim were building a corporate card around a counterintuitive premise: helping businesses spend less. What drew us in was the ambition behind it. The card was a wedge; the real product was software that could give finance teams control over how money moves through a company.

From a card to the platform for the office of the CFO

Nearly 6 years later, that vision has materialized. Ramp has earned its place as the go-to platform for the office of the CFO, expanding beyond cards and expense management into bill pay, procurement, travel, banking, accounting, accounts receivable, and more. Each product solves a problem on its own, but the bigger opportunity is what happens when they work together. Their customers realize this, and that’s why they continue to adopt more products over time.

We hear it directly as well. In our conversations with CFOs across industries, the same desire came up again and again: “we want to consolidate our work onto Ramp.” Finance leaders tell us their employees love using Ramp and that it has let them scale the business while barely growing the finance team. Customers are increasingly asking Ramp to solve the next problem, not just the one they first signed up for.

Why the platform matters more in an AI world

The case for a single platform gets stronger as AI takes over more of the work. As agents start to take on more of our daily workflows, Ramp has the context, permission, and trust of their customers to deliver these new capabilities. A few examples:

• Ramp’s policy agents now automate 85% of expense reviews

• Ramp’s AI coding increase fully automated transaction coding by 67% (vs. a rules-only approach)

• 44% of bill pay transactions are no zero touch (!) (vs. 10% in January 2025)

While the AI automation that Ramp is infusing within its product works to save people time, it also costs money. Finance teams now have to contend with a whole new category of spend: tokens. Eric has described this as the third pillar of spend, and Ramp has moved quickly to manage it, launching a host of new, high-quality products at a rapid pace: Token Spend Management, Router, Glass and, now Inspect.

The team's product velocity, scaling ambition and incredible talent have combined to create a company that can take full advantage of this AI moment and turn ideas into products its customers love. That is why we are incredibly proud to deepen our partnership with Ramp in this latest financing. As the team puts it, their mission hasn't changed; it's just gotten bigger.

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