Palo Alto – April 16, 2021 – Cooley advised Ramp, a fintech company with a corporate card and spend management platform designed to help businesses spend less, on its $115 million Series B financing round, which brings the company’s valuation to more than $1 billion. Ramp has become the fastest growing New York-based startup in history and is the first to surpass a $1 billion valuation in under two years from incorporation. Lawyers Seth Gottlieb and Sepideh Mousakhani led the Cooley team advising Ramp.
D1 Capital and Stripe co-led the round, which also included participation from Goldman Sachs, Founders Fund, Coatue Management, Thrive Capital, Redpoint Ventures, Box Group, Neo and Contrary Capital. Ramp will use the new capital for product development and to support its rapid employee growth. The company also plans to add novel features and new payments capabilities, including card controls, automated savings and accounting automation.
“Ramp has become the card of choice for high-growth companies that want to remove any operational barriers that could get in the way of their ambitious goals,” Eric Glyman, co-founder and CEO of Ramp, said in a news release. “We feel lucky to go to work for our customers and deliver software that helps companies operate higher performing businesses.”
Founded in 2019, Ramp is on a mission to increase the lifespan of businesses with intelligence and automation. To date, Ramp has helped 1,000+ customers identify more than $10 million in wasteful spend, eliminate expense reports and streamline financial operations to close their books 86% faster.
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