Rippling Raises $500 Million in Series E  

by Kay Aloha Villamor in March 20th, 2023

Rippling, a San Francisco, CA-based HR solution that manages businesses’ human resources, IT, and operations, raised $500 million in Series E funding.

The round was led by Greenoaks, which values the company at $11.25 billion, the same as the company’s Series D financing in May 2022. In total, it has received about $1.2 billion from investors since its launch.

The plan was to use the funds to help the companies that use its platform pay their employees. 

The company reportedly closed its newly announced $500 million round unusually quickly. It began fundraising last Friday morning, in response to the news that financial regulators had shuttered Silicon Valley Bank. It signed the paperwork that made the deal official the following Monday.

Companies that rely on it for payroll administration use the startup’s platform to pay their employees. Rippling, in turn, relied on Silicon Valley Bank to issue employee payments. Following the bank’s closure, several Rippling customers experienced payment delays and the startup was reportedly concerned broader interruptions could follow.

Rippling provides a cloud platform that human resources teams use to perform their day-to-day work. The platform provides features for carrying out payroll administration tasks and enrolling employees in health insurance. Additionally, it includes a workflow tool for automating related data entry chores.

Alongside its core payroll and benefits management features, Rippling offers several other workforce management tools. For information technology teams, the startup provides a tool that makes it easier to manage employee access to internal applications. For accounting departments, it offers the ability to issue corporate payment cards to workers. Rippling has also added a variety of other features to its platform in recent years.

Company: Rippling People Center Inc.

Raised: $500.0M

Round: Series E

Funding Month: March 2023

Lead Investors: Greenoak

Additional Investors: 

Company Website:

Software Category: HR Software    

About the Company: Founded in 2016, Rippling is the first way for businesses to manage all of their HR & IT, payroll, benefits, computers, apps, and more, in one unified workforce platform. Rippling helps to centralize employee data and systems and automate all the manual processes involved with employee management, this helps the companies to run more efficiently. Rippling integrates with HR systems to get employees set up and prepared for a workday and place. The company is on a mission to eliminate the administrative work of running a company. They believe that people should focus on the hard stuff—the things that only people can do—and that software should manage the rest.


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