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Rippling

Enterprise Software & Business Services · San Francisco, California · Private

Rippling combines payroll, benefits, HR, IT and finance software in a unified system for managing a company's workforce.

$16.8BLatest valuationMay 2025
$450MLatest fundingSeries G, May 2025
PrivatePublic statusNo listed shares

The Company

Rippling's core proposition is a single system of record that links employee data to payroll, benefits, devices, identity and spend management.

It has expanded from U.S. payroll software into a broader multi-product platform for global workforce operations.

Why It Matters

Rippling is a leading private-company benchmark for how much value can accrue to an integrated business-software suite. Its funding also shows investor appetite for category leaders that can consolidate fragmented back-office tools.

Valuation History

  1. $1.4B→Aug 2020$145M Series BSource ↗
  2. $13.5B→Apr 2024Series F + tender offerSource ↗
  3. $16.8B→May 2025$450M Series GSource ↗

What Changed

  1. Raised $450M in Series G financing at a $16.8B valuation.

  2. Continued international and multi-product expansion while remaining in a public legal dispute with competitor Deel.

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