Total amount raised
$802.5 Millions
Latest funding date
March, 2023
Location
Rippling has successfully raised $200 million in its latest funding round, achieving a valuation of $13.5 billion. The platform integrates HR, IT, and finance operations into a single, unified system.
Keep reading to explore the intricacies of Rippling's fundraising journey and the investors backing this innovative platform.
What Is Rippling?
Founded in 2016 by Parker Conrad and Prasanna Sankar, Rippling is headquartered in San Francisco, California. The company offers a comprehensive workforce management platform that unifies HR, IT, and finance operations into a single system.
Rippling's platform handles the entire employee lifecycle, from onboarding to benefits administration, and provides IT management tools for device monitoring, software access, and security oversight. It also includes payroll processing, financial tracking, and spend management features.
With a workforce of 1001-5000 employees, Rippling continues to grow and innovate, providing businesses with the tools they need to streamline operations and ensure compliance.
How Much Funding Has Rippling Raised?
- Seed Round
- Amount Raised: $7M
- Date: March 2017
- Lead Investors: Hydrazine Capital, Initialized Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the business model.
- Series A
- Amount Raised: $45M
- Date: April 2019
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the customer base.
- Series B
- Amount Raised: $145M
- Date: August 2020
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and support rapid growth.
- Series C
- Amount Raised: $250M
- Date: October 2021
- Lead Investors: Global Growth, Sequoia Capital Global Equities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and invest in R&D.
- Series D
- Amount Raised: $250M
- Date: May 2022
- Lead Investors: Bedrock, Kleiner Perkins
- Valuation at Round: Approximately $11.25 billion
- Motivation Behind the Round: To support product development and market expansion.
- Series E
- Amount Raised: $500M
- Date: March 2023
- Lead Investors: Greenoaks
- Valuation at Round: $11.25 billion
- Motivation Behind the Round: To accelerate growth and enhance platform capabilities.
- Secondary Market
- Amount Raised: $590M
- Date: April 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to current and former employees and early investors.
- Series F
- Amount Raised: $200M
- Date: April 2024
- Lead Investors: Coatue
- Valuation at Round: $13.5 billion
- Motivation Behind the Round: To enhance the workforce management platform and invest in R&D.
Total Amount Raised: $1.987 billion. Current Valuation: $13.5 billion.
Key Investors
- Coatue
- Details: Coatue is a global investment firm that focuses on technology, media, and telecommunications. They are known for their significant investments in high-growth companies.
- Investment Focus Areas: Technology, media, telecommunications, consumer sectors.
- Notable Investments: Snap Inc., DoorDash, ByteDance.
- Greenoaks
- Details: Greenoaks is a global investment firm that invests in technology companies at various stages. They have a strong focus on companies with high growth potential.
- Investment Focus Areas: Technology, fintech, e-commerce.
- Notable Investments: Brex, Robinhood, Stripe.
- Bedrock
- Details: Bedrock is a venture capital firm that focuses on early-stage technology companies. They aim to support innovative startups with strong growth trajectories.
- Investment Focus Areas: Early-stage technology, software, consumer internet.
- Notable Investments: Cameo, Figma, Plaid.
- Kleiner Perkins
- Details: Kleiner Perkins is a renowned venture capital firm with a long history of investing in technology and life sciences. They have backed some of the most successful companies in Silicon Valley.
- Investment Focus Areas: Technology, life sciences, healthcare.
- Notable Investments: Google, Amazon, Twitter.
- Founders Fund
- Details: Founders Fund is a venture capital firm based in San Francisco. They invest in technology companies across various stages and sectors.
- Investment Focus Areas: Technology, aerospace, healthcare.
- Notable Investments: SpaceX, Palantir, Facebook.
What's Next for Rippling?
Rippling stands at the cusp of significant growth opportunities, driven by its recent $200 million funding round. The company is poised to expand its technological capabilities, penetrate new market segments, and develop additional cloud services. The integration of artificial intelligence and machine learning for enhanced automation and analytics further underscores the vast potential ahead.
Future fundraising opportunities appear promising, with continued investor confidence likely to fuel further rounds. As Rippling explores new technological frontiers and expands its global footprint, additional funding will support these ambitious plans. However, the company must navigate challenges such as intense competition, maintaining rapid growth, and ensuring continuous innovation to stay ahead in the competitive market.
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