Agents across the finance back office, plus a new line in managing AI spending itself: Ramp sells agents for expense review, bills, procurement and accounting, and since April 2026 tools to track and route companies' AI token spend.
How is Ramp using AI?
Ramp's AI strategy puts agents into each step of corporate spend, from expense review (July 2025) and bill pay to procurement and accounting, and adds products that manage AI spending itself: token spend management (April 2026) and the Router.com model router (August 2026). Ramp raised $750 million at a $44 billion valuation in June 2026 and $1.85 billion at $60 billion on October 15, 2026, when it reported annualized revenue above $2 billion and 85,000 customers. Weeks later co-founder Karim Atiyeh became co-CEO and applied-AI lead Rahul Sengottuvelu became CTO.
Category
Business finance & infrastructure
Founded
2019
Headquarters
New York, United States
Licence and supervision
No bank charter of its own. Ramp cards are issued by partner institutions: Celtic Bank, Fifth Third Bank, Sutton Bank and Lead Bank (all Members FDIC) in the US, Peoples Trust Company in Canada, Stripe Technology Europe in the EEA and Stripe Payments UK in the UK (per Ramp's issuing bank schedule, last updated April 22, 2026).
Scale
Over $2 billion in annualized revenue, 85,000 customers and over $275 billion in annualized purchase volume, per Ramp on October 15, 2026
Flagship platform
Ramp agents
AI leadership
Eric Glyman · Karim Atiyeh · Rahul Sengottuvelu · Hamid Dadkhah · Colin Kennedy
- Ramp raised $750 million at a $44 billion valuation on June 4, 2026, up from $32 billion in November 2025; it reported over $1 billion in annualized revenue with positive free cash flow, 70,000+ customers and $200 billion in annualized purchase volume as of June 1, 2026.
- On October 15, 2026 Ramp announced a $1.85 billion round at a $60 billion valuation, led by Dragoneer Investment Group and co-led by Thrive Capital, Founders Fund, Sands Capital and Avenir Growth, and reported more than $2 billion in annualized revenue, 85,000+ customers and over $275 billion in annualized purchase volume as of October 1, 2026 (Ramp's release).
- Ramp's first agents (July 2025) review expenses against policy; Ramp says they catch 15x more out-of-policy spend than non-AI alternatives and escalate only 10-15% of expenses to humans. Agents for AP (October 2025) code invoices and, Ramp says, identified more than $1 million in fraud before approval.
- Ramp says average monthly AI token spend across its customers rose 13x since January 2025; it launched token spend management in early access in April 2026 and opened Router.com, a model-routing API, in August 2026.
- Internally, Ramp says its Inspect coding agent writes more than two-thirds of its code and its Glass AI workspace helped it reach 99.5% AI adoption (June 2026); its OCA on-call agent assisted with 575 of 1,220 incident-fix pull requests in four weeks (September 2026). On October 13, 2026 Ramp began opening Glass -- previously an internal tool -- to outside businesses, saying 323 of its own employees had made over 6,500 edits to what it knows.
- On June 25, 2026 co-founder Karim Atiyeh moved from CTO to co-CEO alongside Eric Glyman, and Rahul Sengottuvelu, who led Applied AI at Ramp, became CTO; the founders tied the change to 'the AI exponential'.
- In March 2026 Ramp and Visa renewed a multi-year issuing agreement and said they are introducing AI agents for corporate bill pay using Visa Intelligent Commerce and the Visa Trusted Agent Protocol.
- Ramp's June 2026 CEO letter names tokens a 'third pillar' of business spend after people and vendors; CEO Eric Glyman told CNBC most CFOs had not planned for the growth in AI spending.
- In October 2026 Ramp disclosed Laminar, the in-house agent harness underlying its agentic products, and opened early access to Inspect, its coding agent, as a standalone product; Ramp says builders now ship six times as much code per person as a year earlier and that more than 85,000 businesses use Ramp.
What is Ramp agents?
Ramp's first AI agents, launched July 9, 2025 for Ramp Plus customers, review expenses against policy; Ramp says they catch 15x more out-of-policy spend than non-AI alternatives, enforce policy with 99% accuracy and escalate only the 10-15% of expenses that need human judgment. Agents for accounts payable followed in October 2025, procurement agents in April 2026, and Ramp Stack, an agent platform for accounting firms, in June 2026.[1][5][10][11]
What has Ramp done on AI, and when?
- Oct 27, 2026
Inspect opens to early access; builders ship 6x more code[26]
Ramp opened early access to Inspect, its collaborative coding agent, as a standalone product: given a task from Slack, GitHub, Linear or the web, it produces a visually validated, reviewed pull request, with teammates able to join a session before review. Ramp said its builders now ship six times as much code per person as a year earlier and that more than 85,000 businesses use Ramp.
- Oct 20, 2026
Laminar, Ramp's in-house agent platform, described[25]
Ramp's engineering blog describes Laminar, the agent harness it built in house (rather than on a third-party agent platform) to run Ramp's agentic products, used internally since its first day by products that automate month-end close for accounting firms, track and route AI token spend, and put 'a powerful personal AI assistant in the pocket of every Ramp cardholder via SMS'.
- Oct 15, 2026
$1.85 billion at a $60 billion valuation[2][22]
Led by Dragoneer Investment Group and co-led by Thrive Capital, Founders Fund, Sands Capital and Avenir Growth, per Ramp's release, four months after the $44 billion round; Ramp said annualized revenue had crossed $2 billion, customers reached 85,000 (from 70,000 in June) and annualized purchase volume over $275 billion, up 175% year on year.
- Oct 13, 2026
Glass, an internal AI workspace, opens to outside companies[23]
CEO Eric Glyman said Ramp built Glass after a week in which the company burned $1.5 million on AI tokens; it is a shared AI workspace holding a company's accumulated prompts, workflows and institutional knowledge (pulled from Linear, Notion, Google, Slack, Gong and other tools), usable with any model and routed through Router.com, with a running cost meter per project. Ramp says 323 of its own employees made more than 6,500 edits to what Glass knows and that moving Ramp's own AI workloads onto Router cut its model bill 30% overnight; Ramp is now onboarding the first outside businesses to Glass, rather than keeping it an internal tool.
- Sep 22, 2026
Accounts Receivable launches with three AI agents[20]
Ramp introduced an Accounts Receivable product built on three AI agents: one drafts an invoice from an uploaded contract or purchase order for Finance to review; one prepares the next collections reminder from payment status, customer history and the company's collections policy, which Finance reviews and sends; and one matches incoming payments to open invoices and flags exceptions. Ramp reported a median time to payment of 36 hours from invoice sent to fully paid, and said internal testing showed billing schedules created up to 2.3x faster than with legacy software, both as of September 2026.
- Sep 9, 2026
OCA, an AI on-call assistant[19]
An incident-response agent that investigates causes, posts findings in Slack and prepares code fixes; Ramp says it assisted with 575 of 1,220 incident-fix pull requests in four weeks and responders rate it helpful 90% of the time.
- Aug 19, 2026
Router.com opens to all developers[18]
One API to access, evaluate and route traffic across AI models, based on routing infrastructure Ramp has run on its own production workloads for three years; Ramp says it saved customers 40% on cost.
- Jun 25, 2026
- Jun 10, 2026
Applied AI Solutions[15]
A service for large enterprises built on the 'Finance Intelligence' semantic layer that powers the agents used by Ramp's own finance team.
- Jun 4, 2026
- Jun 3, 2026
Ramp Stack for accounting firms[11]
An AI-native platform on which accountants deploy agents for reconciliations, schedules, journal entries and flux analyses; Ramp says it works with more than 4,500 accounting firms, including 92 of the top 100 CPA firms.
- Apr 29, 2026
Procurement agents[10]
A suite of AI agents covering vendor sourcing, compliance checks and negotiation prep; Ramp says customers save an average 16% annually on vendor spend and agents eliminate 46 hours a month of manual purchasing work.
- Apr 22, 2026
Issuing bank schedule updated[9]
Ramp's issuing bank schedule, last updated April 22, 2026, lists Celtic Bank, Fifth Third Bank, Sutton Bank and Lead Bank (all Members FDIC) as US card issuers, Peoples Trust Company in Canada, Stripe Technology Europe in the European Economic Area and Stripe Payments UK in the United Kingdom; Ramp holds no bank charter of its own.
- Apr 9, 2026
- Mar 31, 2026
Visa partnership extended to agentic bill pay[7]
A renewed multi-year issuing agreement and work with Visa Intelligent Commerce and the Visa Trusted Agent Protocol to introduce AI agents that automate corporate bill pay.
- Jan 12, 2026
Inspect, Ramp's own background coding agent[6]
Ramp said about 30% of pull requests merged to its frontend and backend repositories were written by Inspect, a few months after launch.
- Oct 7, 2025
Agents for accounts payable[5]
Agents that code invoice line items, check for fraud, recommend approvals and complete card payments; Ramp says they got 85% of accounting fields right the first time, identified $1M+ in fraud before approval and issued 90,000 approval recommendations with a 90% acceptance rate.
- Sep 9, 2025
$1 billion in annualized revenue[4]
Up from $700 million in March 2025, according to Ramp; TechCrunch noted Ramp had recently launched its first AI agent and planned more.
- Jul 30, 2025
$500 million at a $22.5 billion valuation[3]
Raised 45 days after a $16 billion round; Glyman laid out a vision of agent-led 'autonomous finance' he predicts will be the norm by 2028.
- Jul 9, 2025
Ramp launches its first AI agents[1]
Policy agents for Ramp Plus customers that review expenses; Ramp says they catch 15x more out-of-policy spend than non-AI alternatives, enforce policy with 99% accuracy and escalate only 10-15% of expenses to humans.
Where does Ramp use AI today?
| System | What it does | Status | Use case |
|---|---|---|---|
| Policy agents for expense review[1] | Agents that review expenses against company policy and escalate 10-15% to humans; available to Ramp Plus customers through the Early Access tab at launch. | Rolling out | Generative & agentic AI |
| Agents for accounts payable[5] | Invoice coding, approval recommendations and card payments; customers enable them or join a waitlist in the Early Access tab. | Rolling out | Generative & agentic AI |
| Invoice fraud checks by AP agents[5] | AP agents check invoices for fraud before approval; Ramp says they identified more than $1 million in fraud over their first few months. | Rolling out | Fraud detection |
| Procurement agents[10] | Agents in Ramp Procurement that handle vendor sourcing, compliance checks and negotiation prep to run purchasing end to end. | In production | Generative & agentic AI |
| Ramp Stack accounting agents[11] | Agents that run reconciliations, update schedules, post journal entries and build flux analyses for accounting firms, with human checkpoints the firm defines. | In production | Generative & agentic AI |
| Agentic bill pay with Visa[7] | AI agents to automate corporate bill pay using Visa Intelligent Commerce and the Trusted Agent Protocol, announced March 2026. | Announced | Generative & agentic AI |
| AI token spend management and Router.com[14][18] | Tools that show companies what they spend on AI models and route tasks to cheaper models; token spend management launched in early access in April 2026 and Router.com opened to all developers in August 2026. | Rolling out | Third-party & vendor AI |
| Inspect coding agent[6][12] | Ramp's own background coding agent, which runs tests and verifies its work before proposing pull requests; Ramp says it writes more than two-thirds of Ramp's code. | In production | AI-generated code & coding agents |
| OCA on-call assistant[19] | Incident-response agent that joins incident channels, reports likely causes within about 13 minutes and asks Inspect to prepare fixes for human review. | In production | AI-generated code & coding agents |
| Accounts Receivable agents[20] | Three AI agents handle invoice creation, collections follow-up and cash application/payment matching in Ramp's Accounts Receivable product; Finance reviews and sends every collections email. Ramp reports a median 36-hour time to payment among early customers. | In production | Generative & agentic AI |
| Glass AI workspace[23] | A shared AI workspace that captures a company's prompts, workflows and institutional knowledge across its tools and makes them available to every employee with any AI model, routed through Router.com with a per-project cost meter; built for Ramp's own use and opened to outside businesses on October 13, 2026. | Rolling out | Generative & agentic AI |
| Laminar agent platform[25] | Ramp's in-house agent harness underlying its agentic products, including month-end-close automation for accounting firms, token-spend tracking and an SMS-based personal AI assistant for Ramp cardholders; Ramp says it chose to build in house rather than on third-party agent frameworks or vendor platforms. | In production | Generative & agentic AI |
| Inspect (public early access)[26] | Ramp's collaborative coding agent, previously an internal tool, opened to early access as a standalone product that turns a Slack, GitHub, Linear or web request into a reviewed pull request; Ramp says builders now ship six times as much code per person as a year earlier. | Rolling out | AI-generated code & coding agents |
Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.
What has Ramp disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Valuation | $60 billion after a $1.85 billion round, up from $44 billion in June 2026 and $32 billion in November 2025[2][12] | Oct 15, 2026 |
| Annualized revenue | Over $2 billion as of October 1, 2026, per Ramp, against over $1 billion as of June 1, 2026; TechCrunch, citing a Bloomberg report, put the June figure at $1.5 billion[22][12][2] | Oct 1, 2026 |
| Customers | 85,000, up from 70,000 in June 2026[2] | Oct 15, 2026 |
| Annualized purchase volume | Over $275 billion, up 175% year over year (85,000+ companies); $200 billion as of June 1, 2026[22][12] | Oct 1, 2026 |
| Annualized revenue | over $1 billion, with positive free cash flow[12] | Jun 1, 2026 |
| Customers and purchase volume | 70,000+ customers; $200 billion annualized purchase volume[12] | Jun 1, 2026 |
| AI token spend across Ramp customers | average monthly spend up 13x since January 2025[8] | Apr 9, 2026 |
| Code written by the Inspect agent | more than two-thirds of Ramp's code; 99.5% internal AI adoption[12] | Jun 4, 2026 |
| Policy agent performance (Ramp's claim) | 15x more out-of-policy spend caught than non-AI alternatives; 99% policy accuracy; 10-15% escalated to humans[1] | Jul 9, 2025 |
| OCA incident assistance | 575 of 1,220 incident-fix pull requests in four weeks; rated helpful 90% of the time[19] | Sep 9, 2026 |
| Accounts Receivable performance (Ramp's claim) | median time to payment of 36 hours from invoice sent to fully paid; billing schedules created up to 2.3x faster than legacy software in internal testing[20] | Sep 22, 2026 |
| AI management system certification | ISO/IEC 42001:2023, which Ramp says governs AI embedded across all products and services of the Ramp.com platform[21] | Oct 8, 2026 |
| Glass adoption inside Ramp | 323 employees made 6,500+ edits to what Glass knows; moving Ramp's own AI workloads onto Router cut its model bill 30% overnight (both Ramp's own figures)[23] | Oct 13, 2026 |
| US business AI adoption (Ramp AI Index) | 55.9% of businesses paid for AI in September 2026 (Anthropic 43.8%, OpenAI 40.6%); Ramp's lead economist said growth in new AI customers has slowed sharply, consistent with 'the top of the S-curve'[24] | Oct 14, 2026 |
| Code shipped per builder with Inspect | 6x as much code per person as a year earlier[26] | Oct 27, 2026 |
| Businesses using Ramp | more than 85,000[26] | Oct 27, 2026 |
“For 500 years, business ran on two pillars of spend: people and vendors. In the last 24 months, a third arrived – intelligence, paid by the token and invisible to every system we've built to manage cost.”[12]
Eric Glyman · Co-founder and CEO · Jun 4, 2026
“I think that era of tokenmaxxing is nearing its end.”[13]
Eric Glyman · Co-founder and CEO · Jun 4, 2026
“If we fail to operate this way we will ultimately be outcompeted by a new company that does”[17]
Eric Glyman · Co-founder and Co-CEO · Jun 25, 2026
“Strategy decisions are increasingly technology and systems-design decisions, and we want the company built around that reality”[17]
Karim Atiyeh · Co-founder and Co-CEO · Jun 25, 2026
“Most companies slow down as they grow. Glass is our promise that yours won't.”[23]
Eric Glyman · Co-founder and Co-CEO · Oct 13, 2026
Who runs AI at Ramp?
Which regulators govern Ramp's AI?
| Authority | Why it matters here | Documents |
|---|---|---|
| FDIC | Ramp's US cards are issued by FDIC-member partner banks (Celtic Bank, Sutton Bank, Lead Bank and Fifth Third Bank), so its agent-driven card and bill-pay flows run through bank-fintech partnerships those banks must manage as third-party relationships. | |
| CFPB | Ramp's corporate charge cards are business credit, and the Equal Credit Opportunity Act and Regulation B, including adverse-action notice rules, apply to business as well as consumer credit decisions. | ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) |
| UK (BoE / PRA / FCA) | Ramp's UK cards are issued by Stripe Payments UK, and Ramp said in June 2026 it would start serving UK- and Europe-headquartered companies, having closed its acquisition of UK/EU payments firm Billhop. |
Linked authorities have a page in the Regulation tracker; the others are named for completeness and not yet tracked.
What does the public record suggest about Ramp's AI strategy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.
01
AI spending has become a Ramp product line
Token spend management, Router.com and Applied AI Solutions sell help with the AI bill itself; Ramp's funding release credits part of its 2026 growth to token spend management.
02
Most agent performance figures are Ramp's own
The 15x out-of-policy catch rate, 99% accuracy, $1M+ in fraud flagged and 40% routing savings come from Ramp's product announcements, not independent measurement.
03
Several agents launched as early access
The expense-policy and AP agents were released through an Early Access tab or waitlist, and the Visa agentic bill-pay work was announced rather than shown live, so launch dates overstate how widely each is in use.
04
The leadership change is framed around AI
Moving the CTO to co-CEO and handing the CTO role to the head of Applied AI was explained by the founders as positioning the company for the 'AI exponential', making AI leadership part of the top of the org chart.
05
Heavy internal AI use is part of the pitch
Inspect writing more than two-thirds of Ramp's code, 99.5% AI adoption and the OCA incident agent are cited in funding materials, alongside customer-facing agents.
Where does the Ramp record go deeper?
5 topic pages under this profile, each answering one question from the same sourced record.
How does Ramp use AI?
Ramp runs AI agents across corporate spend: policy agents for expense review (July 2025), agents for accounts payable (October 2025), procurement agents (April 2026) and Ramp Stack agents for accounting firms (June 2026). It also sells tools to manage AI costs, including token spend management and the Router.com model router. Ramp reported over $2 billion in annualized revenue and 85,000+ customers as of October 1, 2026.
What is Ramp's valuation?
Ramp's latest valuation is $60 billion: on October 15, 2026 it raised $1.85 billion in a round led by Dragoneer Investment Group and co-led by Thrive Capital, Founders Fund, Sands Capital and Avenir Growth, four months after the $750 million Series F at $44 billion (June 4, 2026, led by ICONIQ, GIC and Ontario Teachers'), which followed $32 billion in November 2025 and $22.5 billion in July 2025. Ramp remains private.
Who runs Ramp?
Co-founders Eric Glyman and Karim Atiyeh have been co-CEOs since June 25, 2026; Atiyeh was previously CTO. Rahul Sengottuvelu, who led Applied AI at Ramp after joining through the acquisition of his company, became CTO. The founders said the change reflected how the AI exponential is reshaping what Ramp can be.
Is Ramp a bank?
No. Ramp does not hold a bank charter. Its cards are issued by partner institutions: Celtic Bank, Fifth Third Bank, Sutton Bank and Lead Bank in the US, Peoples Trust Company in Canada, and Stripe entities in the UK and EEA. Ramp said on October 15, 2026 that more than 85,000 companies manage over $275 billion in annualized purchase volume on it, up from $200 billion as of June 1, 2026.
What is Ramp's AI token spend management?
A product that tracks what companies spend on AI models across providers, launched in early access in April 2026. Ramp says average monthly AI token spend across its customers rose 13x since January 2025. In August 2026 Ramp also opened Router.com, which routes requests across models and, Ramp says, saved customers 40% on cost.
How much of Ramp's code is written by AI?
Ramp says its internal background coding agent, Inspect, writes more than two-thirds of its code (June 2026), up from about 30% of merged pull requests in January 2026. Its OCA on-call agent assisted with 575 of 1,220 incident-fix pull requests over four weeks in 2026, with fixes going through human review.
- Ramp agents: Let finance teams do finance
- Ramp reaches $60B valuation as it pushes deeper into AI
- Ramp hits $22.5B valuation just 45 days after reaching $16B
- Ramp says it has hit $1B in annualized revenue
- AP just became autonomous
- Why We Built Our Own Background Agent
- Ramp and Visa Deepen Partnership to Power the Next Era of Autonomous Finance
- The trillion-dollar blindspot you're missing
- Issuing Bank Schedule (last updated April 22, 2026)
- Buy at the speed of AI
- The question every accountant should ask: What's in your stack?
- Ramp Raises Series F at $44 Billion Valuation
- Ramp hits $44 billion valuation as companies look to rein in AI spending
- Ramp raises $750 million, plans AI spending software
- Introducing Ramp Applied AI Solutions
- Welcoming my Co-Founder Karim as Co-CEO of Ramp
- Ramp elevates CTO to co-CEO
- Introducing Router.com: The best model changes. Your application shouldn't.
- How we built OCA, our AI on-call assistant
- Close the Gap Between Signed and Paid
- Ramp Trust Center (undated page, retrieved 2026-10-08)
- Ramp Reaches $60 Billion Valuation as Annualized Revenue Tops $2 Billion
- Introducing Glass: Learn Things Once.
- Cracks in the AI Thesis Part 3
- Building Laminar: Ramp's Managed Agents Platform
- Introducing Inspect by Ramp: The Collaborative Coding Agent
Neobank
BNPL & lending
Payments
Card network
Brokerage
Business finance & infrastructure
When Ramp moves on AI, you'll read it here first.
when a bank, fintech or regulator moves on AI, it is in the next morning's brief · six sourced stories · 7 am PT · free
plus every regulation, bank and agent page update, the morning after · leave any morning