Rippling Raises $250 Million in Funding, with $11.25 Billion Valuation

The payroll and human resources software provider Rippling has raised $250M in a round co-led by Bedrock and Kleiner Perkins, with participation from existing investors Y Combinator, Sequoia Capital, and more. The round values the company at $11.25 Billion.

“I’m 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,” said Rippling founder and CEO Parker Conrad. “Rippling’s core thesis is that employee data is critical to a surprisingly large number of business systems, including the ones well outside of HR.”

Rippling’s was designed around the principle that employee data is critical to a surprisingly large number of business systems, including the ones well outside of HR. Maintaining the consistency of employee data across all these disconnected systems, across multiple payroll, HR and other databases, is the reason it’s a lot of work for companies to have many different business systems in the first place.