Hey tech lovers, Nuked here with some exciting news about ramping up your knowledge! Today, let’s dive into how a simple spend management startup, Ramp, has skyrocketed in value over just a few months.

In a crazy short period of just three months, Ramp’s valuation jumped from $13 billion to an astonishing $16 billion. This leap came after Ramp secured a $200 million Series E funding round led by its major investor, Founders Fund. The post-money valuation now stands at $16 billion, smashing previous records.

The company’s growth isn’t just a blip; it’s a clear sign of momentum. Just a few months ago, Ramp was valued at $13 billion following a secondary share sale, and a year earlier, it hit $7.65 billion during a funding round. Despite not sharing exact revenue figures, CEO Eric Glyman mentioned that revenue has been growing insanely fast, with reports indicating over $300 million in annualized revenue by summer 2023.

Investors such as Thrive Capital, D1 Capital Partners, General Catalyst, and others continue to back Ramp, showing strong confidence in its future. The company’s rapid valuation boost highlights an exciting trend in venture capital and fintech, making Ramp a startup to watch.

Want to see more about startups making waves? Keep your eyes peeled for updates and market changes in the tech scene!