Eric Glyman says Ramp passed $1 billion in annual revenue about six years after its founding.
“I think by the time we were six years and change, the company had passed over a billion a year in revenue.”
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Eric Glyman
1 episodes · 17 quoted claims
Eric Glyman says Ramp's software line is just over two years old and already brings in more than $100 million a year.
“Software, it's a two-something year old business line, just about two years and some months. That's over 100 million a year business line in and of itself”
Eric Glyman says Ramp's Treasury product is about a year old and holds several billion dollars of deposits.
“Treasury, that's a product that is about a year old, several $1 billion of deposits.”
Eric Glyman says Ramp helps the average company cut its expenses by about 5% a year.
“I think people know RAMP for, you know, we help the average company cut their expenses by about 5 % per year.”
Eric Glyman says Ramp's AI agents review more than 100,000 expenses a day.
“I think that we're processing over 100 ,000 expenses a day that are being reviewed agentically.”
Eric Glyman says Ramp's expense-review agent is over 99% accurate and more accurate than human reviewers.
“And today it's over 99 % accurate, which turns out it's much more accurate than people are.”
Eric Glyman says the Census Bureau runs periodic surveys asking businesses how much they use AI to produce goods or services.
“the Census Bureau would do this periodic surveys where they'd go out and ask, like, how much is your business using AI to produce goods or services?”
Eric Glyman says Ramp supports over 55,000 businesses, with a customer mix that leans only slightly toward tech.
“we looked at our data and, you know, we support over 55 ,000 businesses. We lean a little bit towards tech, but not heavily.”
Eric Glyman says Census Bureau surveys reported that only a single-digit percentage of US businesses had adopted AI, which conflicts with Ramp's customer data.
“they would come back with these pronouncements saying a single digit percent of businesses in the U .S. have adopted AI.”
Eric Glyman says the average American business has an 8% profit margin, so a penny saved equals about 12 pennies of revenue earned.
“average American business has an 8 % profit margin. And so mathematically speaking, a penny saved is equivalent to 12 pennies of revenue earned.”
Eric Glyman says some businesses with very loose spending controls save about 10% by adopting Ramp's controls.
“Some of these very laissez-faire businesses are saving just 10 % just through these types of things.”
Eric Glyman says Ramp powers more than 2% of all corporate and small-business card transactions in the United States.
“I believe today, Ramp powers more than 2 % of all corporate and small business card transactions in the United States”
Eric Glyman says Capital One was legally incorporated in 1994, though its origins trace back to the 1980s.
“I think that legally the incorporation in some sense for Capital One, I think it was in 1994, but the actual start traces back to the 80s.”
Eric Glyman says Signet Bank in Virginia finally let Rich Fairbank and Nigel Morris run their credit-testing experiment after other banks declined.
“finally, there was a bank in Virginia, Signet Bank, that said, fine, we'll let you run it.”
Eric Glyman says Capital One once sent so many mailed offers that it was the largest customer of the US Postal Service.
“where I think at one point they were the largest customer of the US Postal Service.”
Eric Glyman says Capital One bought Hibernia Bank in Louisiana around the time of Hurricane Katrina to gain a stable deposit base.
“And I think it was Hibernia Bank in Louisiana. And this was after Hurricane Katrina.”
Eric Glyman says the national average interest rate on business checking accounts in the US is 0.07%.
“I think the national average, you know, on checking accounts is 0 .07 % in the U .S.”