Eric Gleiman

Oh my gosh.

Well, a couple of things.

First, thank you so much for having me today.

It was a joy.

We were incredibly excited to raise this fund for a couple of reasons.

First, the business is growing even faster at scale.

Ramp's customer base and the revenue we're doing has more than doubled over the past year.

And we find in the times we're living in right now, the opportunity to invest in bringing AI to businesses around the world to automate expense reports, make it easier to run a business, and also invest further in this growth made it an easy choice to invest and serve more customers faster.

Something that's so unique about Ramp is we measure our own success by how much less money we've helped customers spend.

And what we find is that the average customer that adopts Ramp is able to reduce their spend by about 5% per year.

And the median customer using Ramp is growing their revenue by about 12% per year, which is more than double the US national average.

I think that uniqueness on ROI, on actually showing companies where they can cut out spend, how they can automate expenses, separate us, and I would argue makes us part of that 5% in that study where people are finding AI is actually very, very useful.

Yes, it is.

Because I think for a lot of companies, really they're looking to understand, okay, I know that time is money.

If you're a company, every hour that you're paying someone, let's say to do their expense reports, it's an hour that they're not selling the next customer, reporting on the news.

whatever really drives value to that business and RAMP being able to show this was attempted spend that on a different type of program would have gone through.

This is time your people would have been doing these low value tasks.

Instead, that's automated.

The spend didn't occur in the first place.

The categorization is done for you.