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In Brief Posted:

On Tuesday, Ramp answered any lingering questions as to why investors recently valued the expense management startup at $22.5 billion, just 45 days after a previous funding round valued it at $16 billion: the company says it has achieved $1 billion in annualized revenue.

Annualized revenue refers to a company’s current revenue rate projected over a full year. In March, co-founder and CEO Eric Glyman told TechCrunch that Ramp had hit annualized revenue of $700 million. That’s $300 million of revenue growth in about six months.

Ramp, which provides corporate expense management and financial software tools, raised $500 million in the $22.5 billion-valuation round in July, led

Next up, Ramp is working on AI agent-led “autonomous finance” — automated financial management systems — that Glyman predicts will be the norm

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