Ramp has announced a US$1.85 billion primary financing round led by Dragoneer Investment Group, valuing the company at US$60 billion. Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth co-led the round, with participation from additional investors including Capital International, Fidelity Management & Research Company, T. Rowe Price, D1 Capital Partners, Greenoaks, ICONIQ, GIC, 8VC, 1789 Capital, Alpha Wave Global, Ontario Teachers’ Pension Plan, Coatue, D.E. Shaw, Definition Capital, FirstMark, General Catalyst, Generation Investment Management, Glade Brook Capital Partners, Khosla Ventures, Lightspeed Venture Partners, Pinegrove Opportunity Partners, Soma Capital, and Stripes.
Latham & Watkins LLP advised Ramp in the transaction with a team led by Bay Area partner Seth Gottlieb and counsel Zuzanna Gruca, with associates Katie Weeks and Rachel Oh, with assistance from Clyden Pirouzi.
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