Ramp raised $750M at a $44B valuation in a round led by ICONIQ, GIC, and Ontario Teachers' Pension Plan, bringing its total equity raised past $3B. The corporate spend-management company is pushing beyond tracking money spent on people and vendors into a fast-growing third category: the cost of AI itself, with new tools that give businesses visibility into their “token spend.” That expansion, along with a first-time move into serving accounting firms, helped drive total payment volume up about 170% year over year in March, Ramp's fastest growth in three years despite the company now being roughly 20 times larger than it was then.
