Ramp co-founders Karim Atiyeh (left) and Eric Glyman. Photo courtesy of Ramp.
Exclusive
Venture Capital Startups

Founders Fund, Iconiq Value Ramp at $3.8 Billion in New Funding Round

Photo: Ramp co-founders Karim Atiyeh (left) and Eric Glyman. Photo courtesy of Ramp.

Corporate credit card startup Ramp is raising its fourth round of venture funding in under eight months, underscoring how back-to-back fundraising rounds—with relatively little business progress in between—is becoming the norm for startups in hot fields such as financial services.

Founders Fund is leading a new funding round that also includes Iconiq Capital, a firm that invests the money of high net worth individuals such as Mark Zuckerberg and Jack Dorsey, according to a person with direct knowledge of the matter. The deal values the two-year-old Ramp at about $3.8 billion—more than double its paper valuation in March, according to another person.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
My Life's Work Startups
As a Kid, Samantha John Recoiled From Videogames. Now She’s Teaching Kids to Code Them
Art by Clark Miller.
This is “My Life’s Work,” a series about the unique life experiences that influenced the careers of tech founders and executives. Interviews have been edited and condensed for clarity. For the past decade, Samantha John, 35, and her co-founder, Jocelyn Leavitt, have been helping kids learn to code. Their app, Hopscotch, teaches children programming as they create their own...
Latest Briefs
 
Congressional Report Says Robinhood Understated Liquidity Problems During Meme Stock Craze
Zendesk Agrees to $10.2 billion Buyout Months After Rejecting Higher Bid
Meta Plans To Shut Down CrowdTangle Tool
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Jerry Seinfeld (left) and Ted Sarandos. Photo by Getty. Art by Mike Sullivan
Exclusive Media/Telecom Amazon
A Netflix Slump Tests Sarandos’ Talent Savvy
In 2019, when comedian Mike Myers was pitching a new comedy series to Netflix, program executives at the company were skeptical.
Amazon's logo on a tent at Cannes this week. Photo by Reuters.
Amazon
Amazon’s Ad Staffers Flee Amid Complaints of Bloat, Bureaucracy
In the years immediately before Covid-19 sidelined the global advertising festival in Cannes, Amazon kept a low-key presence at the annual gathering of ad and tech people.
Crypto Markets
Tech’s Worst-Timed Deals: Six Acquisitions That Have Not Improved With Age
As tech valuations collapse to a fraction of where they were last year, executives likely have a few regrets.
Signage at VidCon 2016. Photo by Shutterstock
VidCon Returns as Chill Falls on Creator Economy
VidCon, the annual gathering of social media creators, fans and industry representatives, will descend on Anaheim, Calif., Wednesday for the first time since 2019.
Illustration by Josh Brill
Opinion Venture Capital
What Venture Investors Get Wrong About China
For two decades, investors in China’s venture capital firms have looked for partners with an instinct for the “new economy.” And for two decades, the firms have posted high-flying returns primarily driven by winners in this fiercely competitive arena—including upstarts in budget appliances (Xiaomi), social media (ByteDance), ride hailing (Didi) and food delivery (Meituan)—that seemed to validate that approach.
Art: Mike Sullivan
Creator Economy Crypto Startups
NFT Lovers Buck the Crypto Crash
If you attended this year’s NFT NYC conference, you wouldn’t think we’re knee-deep in a crypto crash .