London, UK-based forecasting analytics startup Ramp raised USD 5 million in seed funding. The seed round took place on March 3, 2023. AlbionVC and Eurazeo led the financing for the firm. Meanwhile, Triple Point Ventures and angel investors such as Barnaby Hussey-Yeo, CEO at Cleo, and Stephane Kurgan joined the funding.
Purpose of investment for Ramp
With the latest capital injection, Ramp seeks to expand operations and its business reach. It also has plans to accelerate its development efforts.
What the co-founders have to add
Chief Strategy Officer and co-founder Angus Lovitt said, “Our platform dramatically increases the accuracy of revenue forecasting in a fraction of the time it would take in spreadsheets.”
Angus Lovitt further added, “What took us all a day in terms of number crunching, we can now do in minutes. Yet what excites me about the platform are the strategic decisions we empower businesses to make. Our platform has given some businesses the confidence to invest in growth through marketing, while others have the evidence to cutting costs or shuddering services. The insight we deliver can be game-changing.”
In addition, Dan Marcus, Chief Executive Officer and Co-founder of Ramp, said, “Our long-term goal is to position Ramp as a single source of truth for the future of businesses, from which prescriptive and proactive analytics services can stem. We’re at the forefront of this new product category, and it’s great to have such renowned investors believe in this vision and join us on this journey.”
What the investors have to add
Paul Lehair, Investment Director at AlbionVC, further said, “We are very excited to support Ramp in this next phase of growth by co-leading their seed round. As an ex-CFO of a B2C startup, I was blown away by Ramp’s unique approach to solving the business-critical problem that is forecasting. We are thrilled to back the team and their ambition to create a new category leader in this space.”
Besides, Tara Reeves, Managing Director – of Venture at Eurazeo, said, “As a former product manager, I was impressed by Ramp’s innovative solution for forecasting, which is a crucial aspect for any business. I believe its product will be of great value for teams in product, finance, and marketing.”
Moreover, Space Ape Games CFO Hong Nguyen said, “We immediately saw the benefit of receiving sophisticated forecasts in minutes, so we are deploying Ramp on new and existing titles.”
About Ramp
Angus Lovitt, Daniel Marcus, and Jan Pickard launched the company in 2018. The forecasting analytics company’s platform runs scenarios to make forecast predictions in minutes. It predicts customer behaviour, future revenue and the annual growth of a firm.
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