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Invest in Rippling

HR Tech

Founded: 2017

Headquarters: San Francisco, California



Last Round Valuation

$50 Billion

Share Price


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About Rippling

Rippling helps businesses manage and automate all their employee systems, in one place. The company offers a unified system to onboard employees in 90 seconds and manage payroll, benefits, devices, and over 500 apps. By connecting every business system to one source of truth for employee data, businesses can automate all the manual work they normally need to do to make employee changes. Take onboarding, for example. With Rippling, you can just click a button and set up a new employees' payroll, health insurance, work computer, and third-party apps — like Slack, Zoom, and Office 365 — all within 90 seconds. Rippling’s mission is to eliminate the administrative drudgery of running a business by creating a single system of record for employee information that all business software and services plug into.

Key Facts

Fragmentation of employee information is the unacknowledged root cause of almost all the administrative work of running a company.

The right solution is to create a single system for employee data that sits, like a layer, underneath all business software and services, and which pipes employee data, configuration instructions, and access rules into all these systems. Most platforms focus on a narrow use case across one specific department's business systems, but Rippling automates onboarding, offboarding, and employee management across every system that needs it.

Rippling is the first platform that allows companies to effortlessly manage all their people operations in one place—from onboarding to offboarding and everything in between.

In Rippling, you click a button to hire (or promote or terminate) and you're done: Rippling generates agreements and paperwork for electronic signing, collects the employee’s personal info, ships them a pre-configured computer with security set up on day 1, sets up their accounts in all business systems (Gsuite, Slack, Box, Salesforce, GitHub, AWS, etc.), sets them up in payroll and benefits, and the list goes on.

Rippling has the most robust platform for integrations/features and works with larger enterprise customers that generate more revenue while also beginning to service smaller businesses.

Rippling’s Unified Workforce Management Platform features workflow automation, workforce analytics, policy management, and access management products across its HR Cloud, IT Cloud, and Finance Cloud. These products make up Rippling Unity and use employee data to connect and bind together all the different point SaaS systems in use at a company.

Rippling’s workflow “no code” Automator can automate nearly any manual HR, IT or Finance process across multiple systems at once, allowing company execs — whether they work in HR or sales or the engineering department — to create custom triggers that set off actions automatically in Rippling and in third-party apps connected to Rippling.

Rippling’s workforce analytics lets companies create any report—from a PTO to SOC report—using any employee data in the company. This analytics suite was built from the ground up to support analysis of very large data sets.

Rippling’s flexible policy engine lets companies apply any policy to any system, from one place.

Rippling’s permission and approval management system lets companies control exactly what apps and data their team can manage.

Unity invites users to do as much as they like in terms of customization through a scripting language that Rippling has launched called RQL that can be used to create “formula fields” inside of its analytics suite. It plainly borrows core concepts and syntax from Excel but has also incorporated capabilities from SQL such as “select” statements, as well as some elements from Python.

Rippling is making it dead simple to add employees to the right spending policies in a company’s corporate card or spend management system, and to the right part-time-off system.

Rippling’s “compound” model of growing numerous business lines simultaneously has allowed it to sell a bundled system of its offerings to customers on a mostly per-seat basis, meaning more diversified revenue.

According to Forbes and CB Insights, Rippling more than doubled its ARR (annual recurring revenue) to over $100 million since its last funding round in October 2021. The Company currently spends 50% of its revenue on R&D and has a revenue retention rate close to 200%, meaning that for every $1 of revenue earned today, the company makes nearly $2 next year as customers pay to use more of its products.

According to CB Insights, Rippling has more than 10 product lines, each of which is at a $1M+ ARR run-rate, and more than 20 different first-party applications. Over the past 12 months, Rippling has hired more than 150 employees and expects to roll out seven new products over the next year.

In September 2021, Rippling and Ramp announced a partnership to streamline onboarding, automate financial operations, and take control of employee spend, all from one place. With the integration, companies can automatically issue Ramp cards as a part of employee onboarding, let employees request new cards in Rippling, lock or terminate cards, have changes made to the organization structure directly reflected in Ramp, and gain access to reports around teams and individuals spending habits.

In April 2022, Rippling and Carta announced a new partnership that will allow Rippling customers to view real-time salary and equity compensation in one place. For the first time businesses can view and manage employees’ salary and equity in one system. This will help businesses hire and retain top talent, eliminate countless hours of administrative work, and simplify complex reporting and planning.

In August 2022, the Company introduced Rippling Business Partners, a new feature that can create relationships in Rippling between roles that sit in one department but support another—like an HR business partner who supports the Sales team—and give them the visibility and control they need to support their client groups more efficiently.

In September 2022, the Company launched Rippling Spend Management, the first way to manage all company spend in one place alongside payroll. It includes Rippling Corporate Cards, Expense Management, and Bill Pay. With this new Finance Cloud, Rippling is adding the third leg of the company’s stool to its suite of HR features, after its HR and IT offerings.

The new product brings Rippling another step closer to arranging and connecting the disparate employee data it amasses, from personal information to the apps installed on an employee’s laptop, in the same way CRM behemoth Salesforce has unified customer relationship information. CEO Conrad sees this as a massive opportunity. He believes the scope of employee data “is at least as large, and maybe even much larger than” the sales, marketing and customer relationship data Salesforce manages, according to Forbes.

With its new Finance offering, Rippling is challenging both corporate card startups like Brex (last valued at $12.3 billion), and more established FinTechs like bookkeeping company (market capitalization of $13.9 billion) and expense manager Expensify ($1.2 billion). CEO Conrad anticipates this new product will bring in as much money as Rippling’s HR and IT products.

In June 2023, Rippling announced it is now available for companies headquartered in the United Kingdom. As the first truly all-in-one workforce platform with built-in payroll, HRIS, benefits and more, Rippling offers access to over a dozen products that support UK and global employees.

In August 2023, Rippling announced Rippling Recruiting, their new applicant tracking system (ATS). It allows users to connect every step of their hiring process, automate all of the administrative work, and get their entire company hiring on all cylinders.

In November 2023, The Information reported that Rippling by May 2022 had topped $100 million in ARR and revenue has nearly doubled over the last 12 months, implying an ARR of well over $200 million. Additionally, Rippling has around $900 million cash in the bank.

In February 2024, TechCrunch reported Rippling is continuing its ambitious international expansion with the opening of its Asia-Pacific headquarters in Sydney, Australia. The company will invest millions of dollars in its APAC expansion. One of the Rippling’s priorities is R&D and new products created specifically for APAC. In addition to its Sydney HQ, Rippling also has an office in India and is now available in Singapore. Its next APAC launch will be in New Zealand, with other markets planned. Matt Loop, the former vice president of Asia at Slack, will oversee Rippling’s expansion throughout APAC as its new VP and head of Asia. Rippling expects APAC to generate hundreds of million, and eventually billions of dollars, in revenue.

In March 2024, the Information reported that Rippling's annual recurring revenue roughly doubled to more than $350 million by the end of 2023 compared with a year earlier. The overseas expansion and bundling of products like tech-device management and performance review software with its payroll services are fueling the rapid growth. The company is burning about $100 million a year.

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Key Investors

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Size of Market

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Market Position

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Primary Vertical

HR Tech



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Key Officers

Name Work History Title Status
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current


Valuation Over Time


Last Round

Sept. 2019, Series B1

Valuation Post-Money


Amount Raised


Total Funds Raised


Implied Valuation


Funding Rounds

Date Round Amount Valuation Investors
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here

Competitive Landscape

Company Valued Revenue
San Francisco, CA
$2.8B $1.3B
San Francisco, CA
$2.8B $1.3B
San Francisco, CA
$2.8B $1.3B

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