Proofpoint agrees to acquire Varonis for about $6.3 billion
Varonis shareholders are to receive $49.75 a share in cash, a 52% premium to the stock's June 22 closing price, the companies said.
Ramp raises $1.85 billion at a $60 billion valuation
Dragoneer Investment Group led the financing as the fintech expands its AI tools. Ramp was valued at $44 billion in June.
Ramp said on October 15 that it raised $1.85 billion through a primary financing round, putting its valuation at $60 billion. Dragoneer Investment Group led the round for the New York-based financial technology startup.
The financing follows a $750 million round in June that valued Ramp at $44 billion. With the latest investment included, the company said its total equity financing amounts to approximately $5 billion.
Ramp offers corporate cards and software for managing expenses. It said annualized revenue exceeds $2 billion and that its cash flow is positive.
Founded in 2019, the company said it serves more than 85,000 companies. Those customers represent annualized purchase volume exceeding $275 billion, an increase of 175% from a year earlier.
Ramp is also broadening its artificial intelligence offerings, including tools that track AI spending and help optimize the costs of operating AI models.
Thrive Capital, Founders Fund, Sands Capital and Avenir Growth co-led the financing. Ramp said additional participants included GIC, Coatue, T. Rowe Price and Fidelity Management & Research Company.