Ramp Raises $750M at a $44B Valuation Led by Iconiq, GIC, and Ontario Teachers

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Spend-management software provider Ramp secured $750M in financing led by Iconiq, GIC, and the Ontario Teachers' Pension Plan, setting a $44B valuation. While not a frontier-AI lab, Ramp is a heavy applied-AI adopter for finance automation, and the round underscores how mega-rounds are spreading from model builders to AI-native application companies. A data point on where enterprise-software capital is concentrating in mid-2026.