With Ramp’s latest financing, the best investors in the world are betting on what our team already knows: the
@tryramp
team has barely gotten started.
Five years ago, Ramp began as a smart corporate card and we’ve evolved into a one-stop platform for financial operations. What…
Surprise– the world’s most innovative companies are investing more on Twitter than ever!
@tryramp
customers–which includes a cross-section of the US’s fastest growing startups–increased spend at
@twitter
by 18% in the 7 days post-acquisition (10/27)! Google grew 3.4%, FB fell 8%
It’s day 1001 at
@tryramp
. In 1000 days, Ramp became the fastest growing corporate card in America (and the first to try to help customers spend less), scaled to nearly 9 figures in revenue, and did so at sustained hypergrowth (20%+ MoM growth).
What was our playbook? 👇
Today, we’re thrilled to announce our $300M Series D at $5.8B post. The round was led by
@ThriveCapital
& Sands Capital, along with
@GeneralCatalyst
@FoundersFund
and more.
@tryramp
has never been in a stronger position to help our customers succeed. 🧵
As Ramp turns five, I want to share a little about my cofounder Karim Atiyeh.
To give you a quick sense: at 18, Karim was taken hostage at gunpoint by a group of armed militiamen at the border with Syria, when he was trying to leave Lebanon for his college exams. Ten other…
Ramp turns 5 today, and I want to share what we’ve learned about what it takes to build a great company.
In 1827 days, this team has built one of the fastest growing startups in history and assembled some of the most talented people in tech. More importantly, we’ve recovered…
Ramp turns 5 today, and I want to share what we’ve learned about what it takes to build a great company.
In 1827 days, this team has built one of the fastest growing startups in history and assembled some of the most talented people in tech. More importantly, we’ve recovered…
Last month was
@tryramp
’s fastest growth month (new business closed) ever. Most businesses are slowing down. How did we accelerate during what appears to be the early months of a recession?
Our playbook 👇 (1/8)
Today,
@tryramp
announced Ramp Flex, our biggest launch (so far!) this year. We’ll pay your vendors upfront, you pay us back later.
🧵on why we built Flex, Bill Pay (our fastest growing service, 0 -> $1B in ~6 mo) & what it all means for finance teams 👇
It’s launch day at
@tryramp
🚀 Today we launched Bill Pay, based on breakthrough automation that allows Ramp to enter a new (and massive) vertical. It’s the fastest bill pay experience on the market, and it's live & free for all customers 🧵 (1/7)
Devin is single most impressive demo I've seen in the past decade. Worth a few minutes of your day to watch and get a glimpse of the future, it is surreal and deeply exciting. Proud of the
@cognition_labs
team (
@ScottWu46
,
@tryramp
alum
@WuNeal
, and many more!)
Today we're excited to introduce Devin, the first AI software engineer.
Devin is the new state-of-the-art on the SWE-Bench coding benchmark, has successfully passed practical engineering interviews from leading AI companies, and has even completed real jobs on Upwork.
Devin is…
Ramp just turned 4 years old. I’m proud to share that in ’22,
@tryramp
’s revenue grew an industry leading 4X YoY. By obsessing over the value we deliver for customers we entered '23 as the industry’s fastest growing finance automation platform. Here’s how:
This week, I had one of the biggest days of my career.
@tryramp
, a company we started just 893 days ago, closed $300M led by Napoleon Ta and
@rabois
at
@foundersfund
I was also sick that day, and wanted to share a few thoughts now with a clear head 🧵(1/8)
A subtly profound line from Jiro Dreams of Sushi stuck with the
@tryramp
team: “To make delicious food, you must eat delicious food.”
@WuNeal
has the raw horsepower to make a profound impact anywhere, whether at a company like Ramp or now Cognition (Devin). But what made him…
i noticed something fun about
@WuNeal
, who just launched Devin, the first AI software engineer
he's an engineer by training. obviously
but at his last company, ramp, he joined sales
i don't know this, but i wonder if it was b/c he knew great founders sell. awesome.
Extraordinary products are made by people who deeply care about developing a sense of great taste. This morning someone sent me this relatively unknown blog post, turns out
@karrisaarinen
and the eventual
@linear
team had been at it for over a decade. There is no secret here --…
A subtly profound line from Jiro Dreams of Sushi stuck with the
@tryramp
team: “To make delicious food, you must eat delicious food.”
@WuNeal
has the raw horsepower to make a profound impact anywhere, whether at a company like Ramp or now Cognition (Devin). But what made him…
Caught Covid last week, had second vaccine in April. One of the worse flus I’ve had — my sense of smell/taste is still gone but I’m recovering. Excited to get back to the land of the living, have a lot to catch up on (hope to send so many emails tom I get flagged as spam risk 💪)
@elonmusk
@tryramp
@Twitter
Thx
@elonmusk
.
@tryramp
specializes in cutting wasteful spend and redirecting time and money to growth (we cut spend by 3.5% on avg and block frivolous merchants) - would love to personally lead our A-team in automating savings + controls for
@twitter
!
Today at
@tryramp
, we’re excited to announce our acquisition of
@VenueHQ
Backed by
@Sequoia
, they successfully built intuitive Procurement, saving customers from manual processes and wasteful spend. We’re taking Procurement to the next level together 🧵
If you're wondering if businesses are trying to a) grow faster or b) get more profitable, the answer is clear -- average ad spend is up 40% year-over-year.
Growth is back.
12 yrs ago I worked the parking lot at the Venetian directing convention traffic. This week I came home for
@money2020
to share how reg changes opened the opportunity for
@tryramp
to build an $8B company within 3 yrs of incorporation. What a whirlwind! 1/7
People often ask me why we're fixated on cashback at
@tryramp
. Because the credit card industry wins by confusing its customers. Rewards programs are so complex that cardholders can’t maximize potential benefits, and card co's actively devalue points too. Let me explain 🧵 (1/7)
Today at
@tryramp
, we announced a powerful set of AI-based products for finance teams. It’s , a new suite of products powered by
@OpenAI
.
My favorite? Peace of mind that you can get the best price on everything you buy. It's been years in the making 🧵
I do think being nice, treating people right, and doing simple things well is underrated. The company is succeeding because of it, not in spite of it.
We’re going to double down on what worked. Come at us (if you please, and thank you)!
And thank you
@EdLudlow
and the…
My cofounder
@karimatiyeh
often says "
@tryramp
we hire for potential and growth trajectory, slope over intercept. We make bets on people. The goal is not zero defects, but 10x potential.”
@thetkkong
is why -- he helped Ramp 100x+. Stellar talent; keep 👀 out on what he does next
Some bittersweet personal news ~
After 2.5 years, this is my last week at
@tryramp
.
I joined Ramp as Employee
#20
in March 2020 and saw the company scale to over 400 employees and an $8.1B valuation.
Here are some of my takeaways and what's next for me 👇
It’s day 1575 at
@tryramp
. I'm proud to share that Ramp customers have now saved over $600M and over 8.5M hours. Ramp customers with intl operations have 2x’d in the last six months, with active Ramp cards in 74 countries. Quick 🧵 and fresh website
Today we’re thrilled to announce Ramp Plus, an even more powerful edition of our core platform
We built it in lockstep with our most financially complex customers, including
@Shopify
. We’re grateful to all of our customers who helped get us here– quick 🧵
Twitter usage is at an all-time high, and data shared by
@elonmusk
makes that clear for anyone to see publicly.
More users & engagement means more advertising inventory for Twitter to sell, and more attention on the platform broadly.
Banks and credit card companies could be doing SO much more for customers.
At
@tryramp
we aim to elevate what customers can expect. We’re doing our best to create real value and make running a business easier. Excited to show more in ‘22!
(And thank you
@ShaneMac
for sharing!)
This is what VC is for -- big, audacious, and potentially world changing bets that can move humanity forward. Fired up for
@zebulgar
,
@WillBruey
, and the
@vardaspace
team!
Excited to announce that we've raised a $42m Series A to build the world's first space factories
Co-led by Khosla Ventures (
@SamirKaul1
) & Caffeinated Capital (
@tonsing
)
Varda will bring the benefits of space to a much wider population via our products we bring back to Earth!!
Proud to launch
@tryramp
's suite of global products– customers can now pay bills in 175+ countries & 80+ currencies, reimburse employees globally, & auto-track tax/VAT to capture rebates!
It's timely for US companies– the $ has never been stronger 🧵 1/8
Ramp's enterprise and midmarket practice grew really, really quickly last year. In fact,
@tryramp
was the
#1
fastest growing app on
@okta
across all categories
Today the
@tryramp
team launched Merchant Restrictions. Ramp now lets you completely block or limit spending on any vendor with one click. Here's a quick thread on why this is a milestone for the card industry and a release we're proud of (1/4)
After wrapping our 20th board meeting last week,
@rabois
and I joined
@HarryStebbings
to talk through our partnership in building
@tryramp
. Harry did a great job and I think this turned into one of the more info dense, useful podcasts for founders we've made. Hope it's useful!
Ramp famously has a day count on how many days they’ve been in business.
Today is day 1873 & they have:
💰$7.65 billion valuation
💵 Over $1 billion raised
💳 1% SMB spend on Ramp cards
“They are the fastest execution machine in the world.”
My top 6 takeaways with
@rabois
and…
Today at
@tryramp
, we announced a powerful set of features to make expenses effortless for finance teams.
My favorite? Our newest integration with
@MicrosoftTeams
. We’re one of their earliest partners building on Microsoft Copilot. Quick 🧵
THE FULL STORY OF RAMP
- how
@eglyman
and
@karimatiyeh
built their first company together.
- how they turned
@tryramp
into a hyper-growth company.
- surviving and thriving in wildly tumultuous markets.
- many more insights into the fascinating world of modern fintech.
Thank you
@Nasdaq
,
@Machiz
and
@loganbartlett
for an awesome morning!
✂️💳✂️ The time has come to cut up your mediocre corporate card -- we'd love to help your company upgrade to
@tryramp
Charlie is extraordinary -- he was
@tryramp
's inaugural Head of Growth and played a key part in getting the company successfully launched and finding PMF. Have very high conviction in him,
@MahdiRazaMR
and
@ExponentCap
Excited to finally share what
@MahdiRazaMR
and I have been building for the past few years!
We’re thrilled to debut
@exponentcap
and announce that we’ve closed $75M for fund 2.
TLDR - we write lead / co-lead checks from pre-seed to early A, NYC based, thematic generalists
This is a uniquely stressful situation for those who banked with SVB. We want to share what
@tryramp
is doing to support our customers through this challenge and provide options to those in need of immediate assistance. 🧵
27,603 contestants in the
@Meta
Hacker Cup Qualifier
🥇 1st place:
@WuNeal
of
@tryramp
🥈 2nd place: Kevin Sun of
@tryramp
Feel lucky to work with so many extraordinary people like Neal and Kevin, all working hard to help 10,000+ companies spend less.
BEAMING! Thank you
@packyM
for this wild (!) story. Grateful to customers who took a chance on
@tryramp
early, supportive investors (welcome
@stripe
,
@ThriveCapital
,
@redpointvc
!) and our restless team. We're doing everything we can to build stellar software for finance teams
This is a fun one.
Ramp just became the fastest unicorn in NYC history... twice, within a day.
@tryramp
's
@eglyman
&
@karimatiyeh
let me behind the scenes to share what it's like to raise at $1.1bn from D1 & a $1.6bn from Stripe, back-to-back.
This data comprises $10B in anonymized, aggregated business transaction volume each year by Ramp customers. These businesses tend to grow faster than the US average and optimize towards efficient channels. In November
@twitter
is emerging as a winner.
@shaig
Putting in place a revenue share with a third party referrer, then measuring the share of the referrer’s customers that use your product, and then highlighting the data as “market data” isn’t exactly transparent.
1. Count the days.
In our first board mtg w/
@rabois
, we put the day since founding. It became core to our culture. It’s scary to measure days, but when you ask hard questions ("How will we do more these next 60 days than the last?"), you grow. Time moves, make each day count.
Behind Ramp's velocity are incredible people like
@geoffintech
. For the first time, he's publicly sharing how the
@tryramp
team actually builds product - thank you
@lennysan
for challenging us to put it on paper. Hope this is useful for builders out there
9 out of 10
@tryramp
customers have stopped paying for Concur and Expensify.
We want the last holdouts to save too! So Ramp shipped multi-step approvals. Other corporate cards lack controls needed to scale your company efficiently. Try Ramp free today :)
Companies can now earn much higher yield from their balance sheet (5%+ APY) while being prudent.
@alexsongis
& the
@tryramp
finance team wrote an in-depth how to on our process. Highly recommend founders / CFOs take a few minutes, genuinely worth the read
Excited to be sharing with the public a little bit of what we've been working on for the last couple of months at
@tryramp
!
It was a ton of work but thrilled to be able to collaborate with the team at
@circlepay
,
@GenesisTrading
,
@BitGo
, and others!
Losing my mind right now with excitement!! (and plz don't tell
@packyM
but I think he tells our story better than I can, might put me out of a job at
@tryramp
)
Today,
@tryramp
announced a $30 million raise & hit $100mm in TV in record time.
Perfect time to learn about:
- Ramp's Sweet Spot
- Counter-Positioning against competitors
- Why the Corporate Card is a Trojan Horse
- Killing Expensify
- Ramp's Vision
Welcome to
@tryramp
,
@CohereHQ
! The Cohere team has a proven track record of applying generative AI to reduce the manual work of customer support teams. We’re excited to apply their deep expertise to financial operations in fresh and interesting ways!
The convergence of business payments has officially reached a fever pitch, with , Divvy, Brex and, of course,
@tryramp
. Here’s a thread explaining 👇 (1/9)
@ChenaultKen
@generalcatalyst
There’s an old VC adage: "Give me a valuation & I’ll give you the terms"
This round was straightforward. No ratchets. No participating preferred. No kickbacks that artificially inflate valuation or misalign incentives of investors, management, employees & customers. Preferred…
2. Hire for potential.
My cofounder
@karimatiyeh
says “We hire for potential and growth trajectory, slope over intercept. We make bets on people. The goal is not zero defects, but 10x potential.” Find up & comers like Samay & Pavel
Pretty grateful today that
@tryramp
took a bet on a 19 yr old college drop out. It's been an incredible journey and I'm grateful to be a part of it.
@karimatiyeh
and
@eglyman
take young people seriously the way every start up claims to but they seriously follow through with it
Without America's immigration policies,
@tryramp
simply wouldn't exist. My cofounders
@karimatiyeh
&
@genejaelee
both moved to the US as kids, and my grandfather came because of America's love of innovation (then, to help build the Saturn V, but that's a story for another day)
In 2007
@karimatiyeh
immigrated to the US from Lebanon to study at Harvard
14 years later, he's the co-founder & CTO of Ramp, the fastest growing NYC startup ever, valued at $1.6b
America is fucking amazing because immigrants are able to achieve at the highest levels
🇺🇸🇺🇸🇺🇸
As 2023 comes to a close, I want to thank you – our customers & community – for your partnership.
Today, the average business on
@tryramp
saves 5% per year on their expenses – we’re just getting started. 🧵
Today for my 31st birthday, the
@tryramp
team meme'd me
(also, can anyone recommend a talented barber, burn specialist or place where I can find a spaceship)?
Talent is everything.
At
@tryramp
we value the opportunity to work with people who aim to start companies one day, launch new products often to teach PMF (eg ), and support alums when they make the leap to start (
@CohereHQ
and
@secureframe
are two we love)
Underrated startup strategy move: become a landing spot for entrepreneurial young talent before they start something.
Of the current crop of scale ups, Ramp anecdotally seems to have done the best job of this.
Thrilled to share that
@tryramp
just launched Reimbursements – the easiest way to pay back your employees for expenses that don't fit on corp cards.
If your company is still paying for expense software you hate - don't! We'd love to welcome you free today
When your mission is to save your customers time and money, you spend your time asking what you've delivered for them each and every week. You spend your time making this kind of thing. X-ray vision for pricing pages.
@tryramp
is a place that strives to obsess over customers.
If you're like me and dislike obscure SaaS pricing pages, the price intelligence chrome extension from
@tryramp
is a game changer 🤯
◆ No more booking demos just to get a quote
◆ More data for price negotiations
◆ Know what "enterprise" pricing means
This is the most thorough and interesting Spending Report we’ve released so far at
@tryramp
– 59 pages of real-time insights informed by proprietary spending data.
The full report is available for free, right here 👇
Today we announced that
@tryramp
is co-leading a $2.6M seed round alongside
@foundersfund
in
@choose_tactic
, a crypto accounting startup emerging from stealth. Here’s why we’re making our biggest venture investment to date on another startup (1/7)
Especially in lean times, companies will chase profitable advertising spend wherever it exists – Facebook and Google Ad spend is down in Q3 compared to Q2.
5. Facebook vs. Google 🔍
Facebook Ad spend cut by 22.6% between Q2 & Q3 of this year, while Google only dropped by 7.6%.
Could speak to the relative performance of each platform – performance marketers typically cut their least efficient spend first. 📉
Last year,
@doctor__romeo
won over the team
@tryramp
and started our data science team. Tonight at 7p,
@doctor__romeo
steals America’s hearts on The Bachelorette. See you there!
BA in Math from Harvard, PhD from NYU, Data Scientist at
@tryramp
, great insta and incredible person too . MIGHT be biased but I think
@doctor__romeo
is a frontrunner for this next season of
@BacheloretteABC
!
Return to the office is happening MUCH faster than people realize. How much faster? Look at the exponential chart (it's office catering spend on places like
@DoorDash
@ZeroCater
@ezCater
and more). More anonymized
@tryramp
spend patterns on the blog
🚨🚢🚨 New release -
@tryramp
integrates with the most 20+ of the most popular HR providers like Rippling, Justworks, BambooHR, and more to help companies simplify onboarding, issue employee benefits, and keep control spend at scale. This is the team that ships.
Definition of great onboarding:
✅ Enabling employees to do great work
❌ Issuing cards and benefits one by one
Announcing Ramp for HR, a suite of integrations with top HR providers like
@JustWorksHR
@bamboohr
@Hibob_hr
@TriNet
🎉
Proud to see
@tryramp
named by
@TIME
as one of the 100 Most Influential Companies. Businesses deserve more from their financial software, and we’re working hard to deliver (also, even cooler spotting so many Ramp customers on the list too!)
Scoop: is in talks to acquire Utah-based startup Divvy, sources tell
@ElizaHaverstock
and me at
@forbes
.
Divvy raised funding at a $1.6B valuation in January, and had previously received a sale offer at more than $2B.
Incumbent corporate cards are guided by incentives that are misaligned with their customers' best interest. Dominant financial institutions want customers to spend more, while businesses set goals around spending less and eliminating waste. (1/5)
People often ask me about
@tryramp
’s velocity, e.g. how we went from incorporation to first swipe in <60 days. Many factors contribute to our speed, but recently I went back in time with
@loganbartlett
&
@emily__man
to dissect how modern fintech came about
5. Dashboarding and data analysis needs to be a core competency of leaders.
The playing field evolves so rapidly that it is impossible to steer the ship without a working compass. Qualitative hunches are often wrong. Follow the data.
Over the last 15 months I've watched
@tryramp
scale from 45 → 225 employees while sustaining hypergrowth
Here are a few things I've learned about maintaining velocity at a startup 👇
Twitter Ad’s success is coming amidst a large pullback in ad spend across our portfolio – down 15% in Q3.
Fees & financial institution spending (think interest & financing charges) jumped by 13%.
Best secret weapon for a fast scaling startup in 2020 --
@BoxGroup
. Unbelievable ally for an early company to punch way above weight in building a top-notch team, product, and roadmap.
@nkatragadda
is a star
Beyond impressed by the culture the Ramp team is building here in NYC with a best in class product. Check out their corporate credit card offering!
@tryramp
This podcast on
@twentyminutevc
is one of my favorite interviews ever: . If you’re interested in the early
@tryramp
story and curious about the operating decisions that helped Ramp become NY's fastest unicorn, this one is excellent. Quick thread: (1/11)
3. Seek rising stars.
Today
@packyM
is one of the internet’s favorite writers. But did you know that
@tryramp
was one of the first to sponsor
@notboringclub
? When you find someone great, try to partner. They might blow you away: , .
I couldn’t be more proud of our performance since our last raise. We’ve grown our customer base by 4X and annual purchase volume by over 6X. Ramp launched our first product 3.5 years ago – and we’ve already crossed $300M in annualized revenue. Ramp customers today have saved over…
10. Have fun.
We're a hybrid company. At the start of the pandemic, we were 16 people. Today we’re 225. Work happens online and we invest in community, friendships, and offsites to make this an incredible shared experience. I can't wait for the next 1000 days with this team.
Part of my job is to study the strategies and people driving companies in our industry. Over the past half decade,
@samdblond
was unequivocally one of the industry's most influential and talented leaders. Excited for what Sam,
@rabois
and the
@foundersfund
team get up to next!
Blond is a veteran of EchoSign, Zenefits and
@brexHQ
, where he helped build out sales from "dozens" of dollars to annualized revenue in the hundreds of millions.
He also competed there with
@foundersfund
portfolio co Ramp and
@eglyman
🍿
tip
@Techmeme
Longtime fan of
@Rippling
& the way
@parkerconrad
and team have delivered, thrilled to launch our integrated experience “
@tryramp
, the buzzy corporate card and finance automation platform, wants to be your HR department and accounting team’s missing link."
Nice as it is to sit in a free airport lounge once every six months, businesses should expect a hell of a lot more from their credit card.
@tryramp
actually measures and shares how much less we help businesses spend. $135M in waste prevented and counting!
I can't make a play on its growth of valuation, but
@ramp
@eglyman
are about to take a lot of market share during this downturn.
The counter-positioning of a corporate card that encourages less spending will be very useful to all CFO's that just got their belt tightened 5 loops
9. Send updates to investors and customers regularly.
They put trust in you, empower them with information. Take time to help others feel connected and many may try to help you succeed. A group empowered with context, real asks and consistency can snowball. Here’s an example.
Proud of
@m_franceschetti
,
@a_zatarain
and the
@eightsleep
team — we first met as batchmates in YC S15, unreal how much they’ve woken up the sleep industry in just a few short years. If you haven’t tried the pod pro yet, I highly recommend it, it’s made me much more productive
BREAKING NEWS
We are proud to announce that
@eightsleep
has raised a $86M Series C.
Sleep hasn't changed for 1000s of years, until the Pod. This funding will unlock development of cutting-edge tech that tracks more bio signals & maximizes recovery & rest