Ramp

“Ramp's contract data shows seat-based contracts still representing roughly 65% to 75% of SaaS spend... Consumption-based spend, the model many people assume will rapidly replace seats, remains only 4% to 6% of the total.”

“Adobe still shows roughly 99% seat-based billing in Ramp's spend panel even after adding Firefly AI credits, which suggests that AI features can be absorbed into existing pricing before they force a complete rewrite of the contract model.”

“Named as a marquee portfolio holding.”