Ramp

“I don’t yet believe in AI coworker capability, but I do believe in AI augmentation … I do think about products like Stack … to have AI embedded into workflows to speed up processes [people are] already doing.” - Ramp CEO Eric Glyman on CNBC Full interview: https://lnkd.in/gmT6p8T8

"What is Stack?" "How can my accounting firm set it up??" "Who am I and why am I here???" 2 of these questions will be answered in this 11:32 min demo, please enjoy ramp.com/stack

The reconciliations. The journal entries. The transaction coding. All of it. You decide where it runs on its own and where it stops for your review. This is Stack. Build it once, run it forever.

Most software is built for accounting teams. Stack is built with them.

It’s day 2635 at Ramp and we just raised $750M at a $44B valuation. Pretty wild for a finance platform that set out to save businesses time and money. We’re growing as fast today as we were 3 years ago, despite being 20x the size. Maybe it’s AI. Maybe it’s Brian Baumgartner. Maybe there’s something in the office Olipop. Whatever it is, the future of finance is bright and Rampy’s riding a skateboard straight into it. Grateful to our 70,000+ customers and investors ICONIQ, GIC, and Ontario Teachers' Pension Plan for leading this round, alongside new investors Goldman Sachs Growth Equity, Morgan Stanley Investment Management, The D. E. Shaw Group, Generation Investment Management, Insight Partners, and BroadLight Capital, and returning ones Founders Fund, Lightspeed, D1 Capital Partners L.P., T. Rowe Price, General Catalyst, Alpha Wave Global, 137 Ventures, Thrive Capital, Coatue Management, Sands Capital, Khosla Ventures, 1789 Capital, Avenir, BoxGroup, 8VC, Pinegrove Venture Partners, Definition, and Stripes.

Over the years I've partnered with thousands of accounting firms - having countless conversations around the challenges and opportunities that exist in the accounting profession. I've learned a lot from them, from a unique vantage point. In my role launching and leading Ramp's Accounting Channel, I spend my time advocating for these accountants - and ensuring we are building towards a vibrant future for them. To state the obvious, the accounting profession is changing at an unprecedented pace - talent shortages, evolving client demands, manual workflows spread across fragmented tooling, AI fatigue, pressure to scale advisory services, and compounding inefficiency that is restricting their ability to grow and capitalize on opportunity. We want to help. In a real and practical way. A year ago, we started working with a group of accounting partners to build something that could deliver for accountants in a way that makes their lives meaningfully better. Accountants need something that can be customized to their workflows, understands nuances across clients, showed its reasoning, and is highly accurate, auditable, and defensible. After all, their reputation as a trusted advisor is on the line with every new tool they adopt. This is not an AI assistant. This is not a close management tool. This is not another theoretical AI offering that generates more buzz than it does results. Today we launch Ramp Stack. An AI operating system built with accountants, for accountants. It will multiply your staff vs replace them. It will do the work, so you can review the work. The ultimate unlock for operational efficiency. 🙌 Our partners at Specialized Accounting have cut close time by 50% on some clients. Matt Tait at Decimal put it better than I could: "Every client wants their accounting firm to be a strategic partner. But you can't be an advisor when your team is buried in reconciliations and journal entries." Jordan Goldman, CPA & Jourdan Wilner are finding new workflows to automate at SAX. The team at airCFO is workshopping with our product managers in NYC, pushing us to iterate and improve. On the way to her sons basketball game, Dana McMillon at JColeman Consulting fed Stack a task that used to take her hours and it completed it in under 15 minutes. There are so many other stories to share, but even more to be made as we launch this to the 🌎 . To every firm who gave us your time, your workflows, your honest feedback - thank you. This launch belongs to you as much as it does to us. 🤝 The profession is evolving, and I genuinely believe the firms that move now will be the ones that define it's future. What will your firm look like in 6 months? What's in your Stack? https://lnkd.in/eE4tZQxs

Introducing Stack. The AI operating system that learns how your accounting firm works, then autonomously runs the routine work so your team only touches what needs a human. Since 2019, we’ve been building smart financial infrastructure for finance teams. Today, they’re joined by accounting teams across America. Ramp currently partners with more than 4,500 accounting firms, and 92 of the top 100 CPA firms already have clients on the platform, making us uniquely positioned to address the accounting industry’s needs.   Accounting firms were design partners for Stack from the start, surfacing use cases that go well beyond the monthly close, including client onboarding and cleaning up messy books. Now, you can deploy AI agents to do the repetitive work. You decide where it runs on its own and where it stops for your review. This is just the beginning. We can’t wait to better serve your firms and clients. The first 3 months are on us. Get started today: ramp.com/stack