July 30, 2025
5 min read
PYMNTS
Ramp raises 00M to expand AI agents that automate corporate finance tasks like expense compliance and bookkeeping.
Ramp, a leading expense management startup, has secured a significant $500 million in its latest funding round, propelling its valuation to an impressive $22.5 billion. The Wall Street Journal reported this development on July 30, 2025. This new capital infusion is earmarked for expanding Ramp's engineering, product, marketing, and sales teams, with a strategic focus on developing and promoting its AI agents. These AI agents are designed to revolutionize corporate finance by automating tasks like expense report compliance, with future plans to extend their capabilities into procurement and bookkeeping.
Eric Glyman, co-founder and CEO of Ramp, articulated the vision behind this technology, likening it to teaching software to "think like people," and foreseeing a future where automation plays an even more substantial role in corporate finance. The company has already launched its initial AI agent, which has garnered substantial interest, with thousands of customers actively using it. Richard Gobea, a finance manager at Quora, highlighted the AI agent's efficiency in automating the manual verification of worker expenses against company policies, freeing up his time for more critical tasks like reviewing flagged expenses.
Despite the clear benefits, the integration of AI agents in financial operations presents notable risks. Kathryn McCall, Chief Legal and Compliance Officer at Trustly, emphasized the critical need for caution when deploying AI for financial transactions, distinguishing it from more casual AI applications. PYMNTS Intelligence research corroborates these concerns, indicating that trust issues, particularly around data security and privacy, remain a significant hurdle for widespread agentic AI adoption. The dynamic decision-making capabilities of agentic AI, which often require broad system permissions, heighten the risk of data breaches or policy violations if not meticulously configured.
Ramp's Series E-2 funding round was notably led by Iconiq Growth, a firm also involved in the substantial funding rounds for AI startup Anthropic.
Frequently Asked Questions (FAQ)
About Ramp's Funding and AI Agents
Q: What is the new valuation of Ramp? A: Ramp's valuation has reached $22.5 billion following its latest funding round. Q: How much funding did Ramp raise? A: Ramp raised $500 million in its latest funding round. Q: What is the primary use of the new capital raised by Ramp? A: The capital will be used to hire engineers, product experts, and marketing and sales staff to develop and promote Ramp's AI agents. Q: What do Ramp's AI agents do? A: These AI agents assist corporate finance teams by automating tasks such as expense report compliance, with plans to expand into procurement and bookkeeping. Q: How does Ramp describe its AI technology? A: Ramp's co-founder and CEO, Eric Glyman, described the technology as teaching software to "think like people." Q: What benefits have customers experienced with Ramp's AI agents? A: Customers like Richard Gobea from Quora have reported that the AI agent automates the work of verifying expenses against company policy, allowing finance managers to focus on reviewing flagged expenses.Risks and Concerns with AI in Finance
Q: What are the significant risks associated with deploying AI agents in finance? A: Handling people's money with AI agents requires extreme care, as misconfigurations can increase the risk of data breaches or policy violations due to the broad permissions often required by agentic AI. Q: What are the main challenges to widespread adoption of agentic AI? A: Research indicates that trust issues, particularly data security and privacy concerns, are major barriers, with approximately 80% of highly automated enterprises citing these as top challenges.Crypto Market AI's Take
The significant funding round for Ramp underscores the growing trend of AI integration within the financial sector. As companies like Ramp leverage AI agents to automate and streamline complex financial operations, the potential for increased efficiency and accuracy is immense. This development aligns with our broader vision at Crypto Market AI, where we explore the transformative impact of AI on finance and investment. Our platform offers insights into how AI is reshaping market analysis, trading strategies, and even personal finance, aiming to democratize access to sophisticated financial tools and intelligence. The challenges of trust and security in AI deployment, as highlighted by the PYMNTS Intelligence research, are critical considerations that we also address by emphasizing robust security protocols and transparent operational frameworks.More to Read:
- AI Agents: Capabilities, Risks, and Their Growing Role
- The Future of Crypto Trading: AI-Powered Strategies
- Understanding AI's Impact on Personal Finance