Ramp reaches $60B valuation as it pushes deeper into AI

Expense management company Ramp said on Thursday that it had raised $1.85 billion in a new funding round that values it at $60 billion, just four months after raising $750 million at a $44 billion valuation.

The financing was co-led by Dragoneer Investment Group, Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth.

Ramp said its annualized revenue has crossed $2 billion, up from a reported $1.5 billion in June, and that its revenue growth is 25% faster than it…