Ramp, a New York-Based Startup, Unveils AI Tools for Business Cost Tracking
- ByStartupStory | May 19, 2023
Ramp, a provider of financial management software, unveils AI-powered tools, including a new feature to identify potential software contract overpayments, starting from Thursday.
Since its establishment in 2019, Ramp, a New York-based startup providing a corporate card platform utilized by more than 15,000 businesses, has successfully secured $1.4 billion in funding from various investors. Among these investors are notable names such as Satya Nadella, the CEO of Microsoft Corp, as well as Goldman Sachs, Redpoint Ventures, and Thrive Capital.
According to Reuters, Ramp CEO Eric Glyman stated that the introduction of advanced AI features will empower corporate finance teams with enhanced oversight capabilities.
Redpoint Ventures investor Logan Bartlett highlighted that with the implementation of Ramp’s new AI tools, companies will have the capability to effectively identify and address unusual employee spending in real time. Additionally, the recently introduced features incorporate an accounting co-pilot that significantly speeds up manual tasks.
Ramp has collaborated with OpenAI, the provider of the renowned ChatGPT chatbot, to develop AI advancements leveraging the power of generative AI. These enhancements enable the synthesis of vast quantities of data and enable interactions using humanlike language.
Course5 Intelligence, a burgeoning startup specializing in data analytics and artificial intelligence, has recently secured a substantial funding amount of $28 million from 360 ONE Asset Management. “This funding will enable us to continue to invest in augmenting our value proposition for our clients,” Ashwin Mittal, MD & CEO, Course5 Intelligence told DTNext.
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