" "

Workforce management startup Rippling raises $200M in a Series F round

ISN Team
Updated On
New Update
Prasanna Sankar and Parker Conrad

Prasanna Sankar and Parker Conrad

San Francisco-based Rippling, a workforce management software firm, has raised $200 million in a Series F funding round.

The round was led by Coatue Management, with participation from other institutional backers, including Peter Thiel's Founders Fund, Dragoneer Investment Group, and Greenoaks Capital. 

Notably, existing investor Napoleon Ta at Founders Fund prepared to invest up to $310 million in this round, making it the largest check Founders Fund has ever written for a single company.

What is the purpose of fundraising?


The company plans to provide liquidity for current and former employees as well as seed investors. Rippling announced a secondary sale worth up to $590 million that allows stakeholders to sell part of their equity. 

Additionally, It plans to enhance its product portfolio, specifically by integrating more artificial intelligence features and developing a fourth cloud service targeting a new sector.

How will this impact employees?

As part of the funding round, Rippling has made one of India's largest tender offers, allowing employees and seed investors significant liquidity opportunities.

Current and former employees can sell up to $200 million collectively, while seed investors can sell up to $390 million.

Expansion and growth

Rippling is aggressively expanding its operations, particularly in India, focusing on research and development as well as broadening its recruitment initiatives.

The company has recently signed a lease for a new 123,000-square-foot headquarters in San Francisco, quadrupling its office space to accommodate its growing team. This expansion is in line with Rippling's strategy to enhance its global footprint and respond to the increasing demand for HR tech solutions.

What does Rippling do?

Founded in 2016 by Parker Conrad and Prasanna Sankar, Rippling offers a unified platform that enables businesses to manage HR, IT, and finance operations efficiently. With a valuation now at $13.5 billion, Rippling's technology helps automate tasks across various domains, from payroll administration to setting up employee devices.