Rippling nabs $145M at a $1.35B valuation to build out its all-in-one platform for employee data
Rippling is an HR management solutions company founded by Parker Conrad (Zenefits founder). Rippling automatically does the 100 little things that IT, HR, and employees have to do when joining, working at, or leaving a company. Through Rippling, you can automate 100 tasks and unify all systems. Rippling scales with the business from 1 to 1,000 employees. Through the centralized platform, all information is updated in real time to provide consistent transparency across team members, groups, and geographies.
Rippling truly combines HR and IT, managing benefits, payroll for the former and device, password, security management for the latter in one combined, synced system that constantly adds value through a virtuous cycle. Rippling develops its own in-house versions of undifferentiated parts of the HR and IT stacks, like PTO management or commuter benefits.
Rippling is going after the $30 billion human resources management technology market. Managing payroll, benefits, computers, and apps has always been a disaggregated manual effort. The downside of mismanagement is substantial yet there has been no technology enabled solution that ensures efficiency and accuracy. Rippling, in contrast, centralizes all the information in a modern platform with intuitive UX.
The founder, Parker Conrad, is one of the founders of Zenefits, and a serial entrepreneur, having founded SigFig and Wikinvest as well. He is a graduate of Harvard. He has a strong background and track record as an entrepreneur of early stage and scaled companies in the space. Soma invested in the seed round alongside other first Zenefits investors. In 2019 Rippling raised $45m at a $270m value from Kleiner Perkins, NJF Capital, and Initialized Capital.