Ramp, a corporate expense management platform that has almost tripled its valuation within a year to hit a staggering $44 billion, has raised an impressive $750 million. The funding round was led by giants like ICONIQ and GIC, with participation from a host of other heavyweight firms.

The company boasts over 70,000 customers including tech heavyweights such as Visa and Figma, and is now expanding its services to include payments, fraud detection, procurement, vendor management, and even accounting. Ramp’s CEO Eric Glyman has also been vocal about integrating AI into their suite of products, with a particular focus on monitoring AI token usage and enabling AI agents to make payments.

Uber, another tech giant, recently capped its AI spending per employee at $1,500 after burning through the entire 2026 budget in just four months. This signals a growing interest from businesses in managing their AI costs effectively. Ramp sees this as an opportunity to carve out a new revenue stream by helping companies measure and control these expenses.

The company’s ultimate goal is to eventually go public, though details on when remain vague. With over $3 billion raised so far, the path looks promising. However, competition from other tech giants like Brex and Rippling will be fierce as they vie for their share of the fast-growing market.