Rippling, an employee management platform, announced Wednesday it raised $250 million in Series D funding. The funding round was co-led by Bedrock and Kleiner Perkins, with participation from existing investors Y Combinator and Sequoia Capital, among others.
This new capital brings Rippling’s valuation to $11.25 billion and comes after an exciting year of growth for the company. Just last October, Rippling reached a $6.5 billion valuation.
The San Francisco-based company brings a number of HR and IT management services into one easy-to-manage platform. With Rippling, companies can easily view and manage their entire workforce’s payroll, benefits, working hours, learning, app and device management and more. The platform can also be used to automate workflows across departments and scales easily whether an office has two employees or 2,000.
“Maintaining the fidelity of the same employee data across all these disconnected systems — effectively, across multiple separate databases — is the reason it’s a lot of work for companies to have many different business systems in the first place,” Rippling CEO Parker Conrad said in a statement. “Rippling solves this problem by giving companies and employees a single place to make changes, which then propagate everywhere automatically. The system that does this isn’t just a time-saver. We believe it will be a critical primitive for business software going forward.”
While the company didn’t disclose what the new funding will be used for, it did announce in the same statement that Rippling is hiring across departments. Currently, Rippling is hiring for 236 roles with 118 of those tied to its San Francisco headquarters or open for remote work.
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