Rippling, a San Francisco-based HRtech startup, is reportedly in discussions to secure a new funding round of $870 million, raising its valuation to $13.4 billion. This potential financing round follows the company's previous Series E funding of $500 million in 2023, which valued Rippling at $11.25 billion. The upcoming round is anticipated to include a $200 million injection of capital, alongside $670 million from shares sold by existing stockholders, including a significant investment from Founders Fund's Napoleon Ta.
According to reports, this round marks Founders Fund's largest investment in a single company to date. Alongside participation from existing investors Coatue and Greenoaks, these talks aim to finalize terms within weeks. Rippling plans to utilize the new funds to expand its customer base internationally, focusing on mid-size businesses, and to develop additional product offerings. Founded in 2016 by Parker Conrad and Prasanna Sankar, Rippling offers a cloud-based HRtech platform designed to streamline employee management, from onboarding and payroll to benefits administration and vacation tracking. The platform's automation-driven approach caters to small, mid-size, and enterprise businesses, facilitating seamless onboarding experiences and simplifying people operations with intuitive automation features.
