Rippling raises $450Mn, hits $16.8Bn valuation in Series G funding
CALIFORNIA, UNITED STATES — Rippling, a provider of HR information system software, has raised $450 million in a Series G funding round, boosting its valuation to $16.8 billion.
The round, announced by CEO Parker Conrad, included participation from Elad Gil, Sands Capital, GIC, Goldman Sachs Alternatives, Baillie Gifford, and Y Combinator.
In addition, Rippling has signed agreements to repurchase up to $200 million in equity from current and former employees, offering liquidity to its workforce as it continues to operate privately.
“Today’s financing will help accelerate our expansion into new markets, enhance existing products, and support the development of new products,” Conrad wrote.
Expanding product suite and global reach
Founded in 2016, Rippling offers a unified platform that integrates more than two dozen products across HR, IT, and finance. Its services range from payroll, benefits administration, and compliance to device management, single sign-on, bill pay, and corporate cards.
Rippling’s platform centralizes employee data, enabling businesses to automate workflows and improve data integrity across systems.
The company’s vertically integrated approach has fueled rapid growth, with annual recurring revenue (ARR) reaching $570 million in 2025, up from $350 million in 2023, and growth rates exceeding 30%. Rippling now employs 5,381 people, reflecting a 153% workforce increase over the past two years.
Rippling’s international footprint continues to widen. The company operates in over 185 countries, supporting payroll in more than 50 currencies. Recent expansions include new headquarters in Sydney, Australia, and offices in India, Singapore, the United Kingdom, and Ireland, with plans to enter New Zealand and other markets. Rippling’s global payroll and compliance features are designed to adapt to local regulations, making it a preferred choice for multinational businesses.
Legal dispute with rival Deel
Rippling is currently embroiled in a high-profile legal dispute with competitor Deel, alleging that Deel planted a corporate spy within Rippling’s operations to steal trade secrets and confidential business information.
Rippling claims it uncovered the espionage using a “honeypot” trap and is seeking damages in a federal lawsuit.
