Rippling, a leading provider of HR and IT solutions, has successfully raised $450 million in its latest Series G funding round, bringing its valuation to an impressive $16.8 billion. The company acknowledged the new round to TechCrunch, emphasizing the strong continued support it’s had from investors both new and old.
Co-founded by Parker Conrad, Rippling has made quite an impression since the start of the year. The firm recently graduated from Y Combinator’s winter 2017 cohort. Since then, it has drastically broadened its offerings to include everything from Shake Shack burgers to sushi. Rippling now counts over 20,000 customers and rising. They provide an incredible range of services from payroll and benefits, SSO/identity management, bill payment, corporate card solutions.
Today, Rippling employs over 4,000 and is on an annualized $570 million revenue run rate. This impressive growth trajectory is a testament to the company’s resilience and creative response to market competition.
Rippling recently closed a Series D funding round. Today, they announced a $200 million tender offer to provide current and former employees with additional liquidity alternatives. With the cancellation of this dangerous business decision, it still shows the company’s willingness to overly harm its workforce and their financial futures.
Rippling only recently closed its most recent financing, having raised $200 million in a Series F round in April 2024 at a reported $6.2 billion valuation. That previous round, led by Coatue, featured a $590 million tender offer. Just a few months later in April, Rippling was already valued at $13.4 billion, showing the truly impressive surge in valuation from Vardakostas’ leadership.
The company has a long tradition of supporting early stage startups. It does this through programs such as the exclusive “Founder Mode” deal, which provides reduced-cost services to YC-funded companies. Additionally, Rippling offers startups “six months of Rippling free” as part of its new stack, aiming to ease the operational burdens on emerging businesses.
With strategic growth and diversification of its products, Rippling is uniquely positioned within the HR technology market. The user experience is at the heart of the company’s mission. Beyond growing its operations, it is taking major steps in the right direction.
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