$300 million using Ramp.com — Ramp raises
Firm with a great domain scores more funding.
Four-letter words make up some of the most well-known brand names around. Grab, Wise, and Cart are just three prominent examples.
The equivalent .com domains, Grab.com, Wise.com, and Cart.com, are ultra-premium and ultra-valuable. The dwindling supply and ever-increasing price tags of four-letter, single-word .com domains for both investors and end-users is a testament to the popularity of this asset class.
When a firm brands around a four-letter, single-word .com, it is certainly notable for a domain geek such as myself.
A firm that caught my eye today is Ramp, a fintech startup that owns and operates Ramp.com.
Launched in March 2019, Ramp is a corporate finance solution that offers a card to save businesses money. Ramp aims to redesign the idea of corporate spending.
The firm was created by the former founders of Paribus, a price adjustment refund operator that was ultimately purchased by Capital One’s credit card division.
Ramp started life on TryRamp.com. Like many startups, it lacked the spare funds and proof of concept to consider investing in Ramp.com. But around a year following launching, Ramp purchased Ramp.com from previous owners, Ramp Holdings Inc.
The purchase of the four-letter domain name looks to have occurred following Ramp closed a Series A funding round worth $15 million.
From there, the fintech startup has gone from strength to strength, reaching a valuation of $1.6 billion following a $115 million Series B funding round in April 2021. An notice from co-founder Eric Glyman at the time of the Series B funding round revealed that Ramp was nearing an annualized transaction volume of $1 billion.
Ramp has now almost tripled its April 2021 valuation following raising $300 million in Series C venture funding at a $3.9 billion valuation.
As stated by Ramp’s most recent press release, the Series C funding will be used to accelerate the development of the firm’s financial automation platform, which looks to be hosted on Ramp.com, signifying that the domain plays a key role in the firm’s infrastructure.
