- Rippling raised $450 million in a Series G round, increasing its valuation to $16.8 billion.
- Y Combinator, a former backer, is now a client and recommends Rippling to all its founders.
HR tech giant Rippling has closed a $450 million Series G round, boosting its valuation to $16.8 billion. The company also launched a $200 million tender offer to provide liquidity for current and former employees. This marks a notable valuation jump from April 2024, when Rippling was valued at $13.4 billion following a $200 million Series F round and a $590 million tender offer.
The latest round saw participation from both new and existing investors. Notable new backers include Sands Capital, GIC, Goldman Sachs Growth, and Baillie Gifford. Returning investors such as Elad Gil and Y Combinator also took part.
A notable development is that Y Combinator, which originally backed Rippling during its Winter 2017 cohort, is now also a client. According to a new case study, YC described Rippling as the HR “tool of choice” for “all of the accelerator’s founders.” Rippling is also offering a “Founder Mode” plan tailored to YC-funded startups.
Earlier this week, CEO Parker Conrad revealed Rippling’s “Startup Stack” initiative aimed at earlier-stage companies. In a LinkedIn post, the company said it already works with over 15,000 startups such as Cursor (Anysphere), Clay, and Sierra, and is offering “six months of Rippling free” as part of its aggressive marketing push.
The funding news comes amid ongoing legal disputes with rival Deel. Rippling filed a lawsuit accusing Deel of hiring a former employee to spy on its trade secrets. Deel, a YC Winter 2019 graduate, has countersued and denied the claims.
With this round, Rippling’s total funding reaches $1.85 billion. It serves more than 20,000 customers and employs over 4,000 people. The company recently hit $570 million in annualized revenue.
Edited by Harshajit Sarmah
