Building a New York-based fintech startup’s corporate spending tool, Lamp has raised a fresh $200 million funding and boosted its valuation to $16 billion. The round is led by Peter Thiel’s venture company Founders Fund and has now supported the Lamp five times.
The new valuation is a $3 billion jump from the last round of the ramp in March, valued at $13 billion.
Founded in 2019 by Eric Griman, Jean Lee and Karim Atier, Lamp began with a mission to help businesses save money. What began as a corporate card platform has grown into a broader suite of financial automation, handling everything from bookkeeping and travel to procurement and vendor payments.
Today, RAMP says it processes hundreds of billions of dollars of purchases each year with more than 40,000 companies, including CBRE, Shopify, Anduril and concepts.
Over the past year, RAMP has been pushed deep into the enterprise market. The Ministry of Finance of Lamp was launched in January. This allows companies to earn 2.5% on Idol Cash. They also acquired venues, a procurement startup with AI capabilities, and used it to deploy vendor payment tools. The company was enrolled in the travel booking space through a partnership with Priceline last summer, CNBC reported.
So far, in 2025, RAMP said it shipped 270 product updates, many focusing on financial workflow automation and AI integration. However, the company still barely damages the surface, and believes it will only be 1.5% of the US potential market.
CEO Eric Grimann looked back at the funds in a blog post and shared that his inspiration comes from bold, mission-driven companies like Stripe, SpaceX and Amazon.
“We’re building a financial operations platform for your business. Corporate cards, spending, bill payments, procurement, travel, finance, department of finance, accounting automation. Yes, it all sounds boring!
“We can fit in post-it notes too,” he wrote. “Save your company time and money (without you realise).”
He continued, “Let the robot chase the receipt and close the book, and then you can use your brain to make things.”
In addition to the Founders Fund, the round attracted participation from Thrive Capital, D1 Capital Partners, General Catalyst, GIC, Iconiq Growth, Khosla Ventures, Sands Capital, 8vc, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital.
RAMP growth is because CFOs are looking for smarter tools to manage their spending. With this latest raise, the lamp appears to be set up to double the capabilities of automation and enterprise without losing sight of its original promises.
It covered the lamp three years ago after Unicorn startups shut down $750 million in funding to help businesses automate their financial operations and reduce spending.
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