Rippling (company)
| Company type | Private |
|---|---|
| Industry | Human resource management |
| Founded | 2017 in San Francisco |
| Founder | Prasanna Sankar, Parker Conrad |
| Headquarters | , United States |
Area served | International |
Key people | Parker Conrad (CEO)[1] |
| Products | Human resources platform, payroll services |
| Total equity | $13.5 billion (2024)[2] |
Number of employees | 2,800 (2024)[2] |
Rippling is a privately owned international software company.[3][1] Launched in 2017 in San Francisco, California,[4] it operates a cloud-based software platform that allows businesses to manage their HR, finances, and IT matters.[3]
History
Parker Conrad and Prasanna Sankar co-founded Rippling in 2016 in San Francisco. The company creates software for companies to handle HR and onboarding, as well as payroll and other management matters.[5] It charges customers a monthly fee for access to its software platform. Rippling released a function to help file for Paycheck Protection Program (PPP) loans in April 2020.[6]
In 2023, as Rippling relied on Silicon Valley Bank to process its customers' employee paychecks, it was impacted when the bank suddenly collapsed and withdrawals were frozen.[7][3] With a funding round facilitated by Greenoaks Capital, Rippling brought in almost $500 million to cover payments during that period.[8] Afterwards, Rippling moved its banking from SVB to JPMorgan.[9]
In 2024, Rippling was valued at $13.5 billion. While it remained unprofitable, it had $1 billion in cash on hand for expansion and development.[2] Rippling had 2,800 employees as of 2024,[2] and offices in California, Ireland, the UK, India, and Australia.[3] In March 2025, Rippling sued its competitor Deel in Ireland, alleging corporate espionage. Shortly afterwards, Deel counter-sued in Delaware with an anti-SLAPP motion.[10] In April 2025, the alleged Deel spy admitted to espionage in what Fortune called "a major scandal rocking the HR world."[11]
References
- ^ a b Cai, Kenrick. "With Finance Cloud, Rippling Hopes To Become The Salesforce Of Employee Data". Forbes.
- ^ a b c d Yasmin, Mehnaz; Hu, Krystal (2024-04-22). "HR tech startup Rippling climbs to $13.5 billion valuation after Coatue-led funding". Reuters.
- ^ a b c d Shu, Catherine (February 12, 2024). "Rippling opens Asia-Pacific HQ as its international expansion gears up".
- ^ Balakrishnan, Anita (March 14, 2017). "Zenefits' controversial former CEO gets $7 million for new start-up to rival his former company". CNBC.
- ^ Feldman, Amy. "The Comeback Of A Fallen Tech Unicorn CEO". Forbes.
- ^ Azevedo, Mary Ann (October 20, 2022). "One month after entering the spend management space, Rippling goes after global payroll".
- ^ "The Company that Needed $545 Million for paychecks when SVB collapsed". The Washington Post.
- ^ "Startup Rippling Raises $500 Million in Funds After SVB Fails". Bloomberg.
- ^ Loizos, Connie (March 17, 2023). "A $500 million term sheet in 12 hours: How Rippling struck a deal as SVB was melting down".
- ^ Azevedo, Mary Ann (April 25, 2025). "Deel files countersuit against Rippling as rivalry escalates".
- ^ Morse, Brit. "The alleged Deel spy just admitted to passing along company secrets in a major scandal rocking the HR world". Fortune.