HCM platform Rippling has raised $200mm in new financing, and signed agreements with investors to repurchase up to $590mm of equity from current employees, former employees, and early investors. The financing was led by Coatue with participation from Founders Fund, Greenoaks, and other existing investors. Dragoneer is joining the round as a new investor.
The financing values the company at $13.5 billion.
We’re grateful for these investors’ conviction in Rippling, for the employees that have gotten us to this point, and for our clients, without whom none of this would be possible, stated Parker Conrad in a blog post on the company website.
“This system we’ve built helps companies run more efficiently and achieve their business goals faster than their competitors. We will continue to expand in new markets and invest deeply in R&D to enhance our current offering and build new products to support our clients. “
To better understand Rippling’s approach and where they’re headed, you can read a lightly redacted version of the memo Conrad wrote for investors ahead of this financing.
They are also hiring across all roles: rippling.com/careers.
