Workforce management startup Rippling raises $250 million in Series D round co-led by Bedrock and Kleiner Perkins

• ByStartupStory     |    May 13, 2022

Rippling, a Bengaluru and San Fransico-based workforce management company has raised $250 million in its Series D round which was co-led by Bedrock and Kleiner Perkins and also saw participation from existing investors like Y Combinator, Sequoia Capital and more. The startup is currently valued at $11.25 billion after the round. The company was last valued in October, at roughly around $6.5 billion after its $250 million Series C round. The Series D funding has also raised Rippling’s total funding to around $700 million which has significantly enhanced its valuation. 

The company was founded in 2016 by Parker Conrad by Parker Conrad, the former CEO of  Zenefits with an aim to unify the payroll so that it can manage all its workforce systems, data and reporting in one place. Conrad said that he is grateful to the investors for their belief in Rippling and also praised the employees for their determination as without them this won’t be possible. 

He also added that Rippling’s core thesis is related to the employee data which is critical to a surprisingly vast number of business systems that include ones well outside HR. The company provides its employees with a single place to make changes and then propagate everywhere automatically. 

The company also confirmed in an email interaction that in the last 12 months the startup has had more than doubled its ARR since its last financing round. Rippling also stated that they are one of the largest tech companies in India with a nine-figure ARR. It has also witnessed a growth of approximately 3X ARR growth in the past 12 months and incorporated more than 150 employees.

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