Key Takeaways
- Karim Atiyeh moves from CTO to co-CEO, formalizing a 12-year working partnership with Eric Glyman
- Rahul Sengottuvelu, who led Ramp's AI division, becomes the new CTO
- The leadership shift follows Ramp's $750M funding round at a $44B valuation
Ramp has elevated co-founder Karim Atiyeh from CTO to co-CEO, placing him alongside Eric Glyman at the top of the corporate spend management company. The move, announced last week, follows Ramp's $750 million funding round that valued the fintech at $44 billion.
"If you know us, this won't feel like a change," Glyman wrote in a blog post. "On decision-making, we trust each other completely to make critical calls for the company across every function."
Atiyeh framed the announcement as paperwork catching up to reality. "Eric and I have worked as a team for the past 12 years. This only makes it formal," he wrote on LinkedIn.
Why elevate the CTO now?
Glyman's explanation was direct: "Technology is not a distinct part of the company. It is the entirety of it." Strategy decisions at Ramp increasingly depend on systems design, and the company wants its structure to reflect that.
The timing ties to Ramp's AI ambitions. "We made this announcement now because of how we see the AI exponential reshaping what Ramp can be," Glyman wrote. The goal is to position every part of the company to compound gains as AI models improve, rather than scramble to rebuild later.
"If we fail to operate this way we will ultimately be outcompeted by a new company that does," Glyman added. Not a hypothetical concern for a company whose competitors include established players like American Express and Brex.
Who's the new CTO?
Rahul Sengottuvelu steps into the CTO role after running Ramp's applied AI division. He co-founded Cohere, a startup Ramp acquired in 2023, and served as its CTO before the deal.
"Rahul's superpower is being right early," Atiyeh wrote. "He spots the bet worth making while everyone else is still forming an opinion."
Glyman offered specifics: Sengottuvelu "was building customer-service agents on GPT-3 at a time when almost no one knew what a large language model was." That head start matters when execution speed compounds. Atiyeh noted that work which once took a year now takes less than a month.
Ramp also named Hamid Dadkhah as head of engineering. "Speed compounds," Atiyeh wrote. "Glad to have these two running it."
What Ramp has been building
The leadership changes cap a busy stretch. In April, Ramp launched a platform giving companies visibility into their AI spending. In June, it debuted Stack, an AI operating system for accounting firms that handles client onboarding and bookkeeping optimization.
Both products sit at the intersection of spend management and AI infrastructure, exactly where Ramp says it wants to compete. The co-CEO structure signals that technical architecture will drive product strategy, not the reverse.
The backstory
Glyman and Atiyeh have worked together since 2014, when they co-founded Paribus, an app that secured retroactive refunds for consumers. Capital One acquired Paribus two years later. The pair launched Ramp in 2019.
Seven years in, Ramp processes over $30 billion in transaction volume and serves more than 25,000 businesses. The $44 billion valuation makes it one of the most valuable private fintechs in the US.
Logicity's Take
Co-CEO structures often signal indecision or political compromise. This one reads differently. Glyman and Atiyeh already operated as partners; the title change removes ambiguity for employees, investors, and enterprise customers who want to know who owns technical direction. The real tell is who gets CTO: someone who built AI agents before ChatGPT existed. Ramp is betting that AI infrastructure will define the next phase of corporate finance software, and they're stacking the leadership team accordingly. Watch for competitors like Brex and Airbase to make similar moves, or risk ceding the AI-native positioning.
Frequently Asked Questions
Who is Ramp's new co-CEO?
Karim Atiyeh, Ramp's co-founder and former CTO, has been elevated to co-CEO alongside Eric Glyman.
Who is Ramp's new CTO?
Rahul Sengottuvelu, previously Ramp's head of applied AI and former CTO of Cohere, takes over the CTO role.
What is Ramp's current valuation?
Ramp is valued at $44 billion following a $750 million funding round announced in June 2026.
Why did Ramp create a co-CEO structure?
The company says strategy decisions are increasingly technical decisions, and they want leadership to reflect that reality as AI reshapes their product roadmap.
What products has Ramp launched recently?
Ramp launched an AI spend visibility platform in April 2026 and Stack, an AI operating system for accounting firms, in June 2026.
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Source: Banking Dive
Huma Shazia
Senior AI & Tech Writer
Produced with AI assistance and reviewed by the Logicity editorial team. Learn more in our Editorial Policy.
