Ramp vs Tropic

AI Startup Minerva Launches Agentic CDP for Marketers

Minerva, an AI startup founded by finance veterans, has raised $20 million and built an 'agentic CDP' that uses AI agents to unify brand first-party data with an identity graph of 270 million consumers. The CEO Jackson Engles emphasizes the product is a specialized marketing platform rather than a general-purpose AI tool. Minerva's agents, built on OpenAI, map, unify, and supplement customer data, enabling use cases like extending direct mail campaigns and creating lookalike audiences for Meta. Client results include an 80% boost in marketing-qualified leads for Ramp and a 3.4x higher ROAS for Wander. The company is also developing an 'agentic data scientist' for predictive modeling. Minerva avoids marketing the CDP label, focusing on outcomes over infrastructure.

• Minerva raised $20 million (Axios, June 2026).
• Minerva uses an identity graph of 270 million consumers.
• Client Ramp saw an 80% increase in marketing-qualified leads.

Ramp Raises $1.85B at $60B Valuation

Ramp, a New York-based fintech specializing in corporate cards and expense management, is raising approximately $1.85 billion (€1.65 billion) at a pre-money valuation of $60 billion (€53 billion), as reported by Bloomberg. The round is led by Dragoneer and Thrive Capital, with participation from Founders Fund, Sands Capital, and Avenir Growth. This follows a $750 million Series F raised in June 2025 at a $44 billion valuation. Ramp's annualized revenue has surpassed $2 billion, up from $1.5 billion in early June, and the company now serves over 85,000 customers processing more than $100 billion annually, with payment volume growing 170% year-over-year. Ramp is expanding internationally (acquiring Billhop for European licenses) and into AI, launching Router.com for AI model routing, a corporate credit card for AI agents, and Glass, a workspace for AI automations. The company faces competition from Pleo, Moss, American Express, and Rippling. The high valuation (30x revenue) is notable given Brex's recent sale to Capital One for $5.15 billion.

• Ramp is raising $1.85 billion at a pre-money valuation of $60 billion, led by Dragoneer and Thrive Capital, with participation from Founders Fund, Sands Capital, and Avenir Growth.
• This follows a $750 million Series F at a $44 billion valuation in June 2025.
• Ramp's annualized revenue surpassed $2 billion, up from $1.5 billion in early June 2025.

Fintech Ramp Raises $1.85B at $60B Valuation

New York-based fintech Ramp has raised approximately $1.85 billion in a funding round led by Dragoneer and Thrive Capital, with participation from Founders Fund, valuing the company at $60 billion pre-money. This round follows a $750 million Series F in June at a $44 billion valuation. Ramp's annualized revenue exceeded $1.5 billion in early June, and the company processes over $100 billion in annual payments. Founded in 2019 by Eric Glyman and Karim Atiyeh, Ramp offers corporate cards, spend management, and AI-powered fraud detection. The company recently expanded into Europe with a London and Stockholm presence and launched Router.com for AI model routing. The valuation, roughly 40x revenue, highlights intense competition with rivals like Pleo, Moss, and American Express.

• Ramp raised approximately $1.85 billion in a funding round led by Dragoneer and Thrive Capital, with participation from Founders Fund.
• The funding round values Ramp at $60 billion pre-money.
• Ramp's annualized revenue exceeded $1.5 billion in early June 2026.

New at Tropic: AI Consumption, Redundancy Analysis & More

Tropic announces new capabilities including AI cost optimization and redundancy analysis, highlighted in a banner linking to a blog post.