Rippling

Last Reported Valuation
$16.8B
Series G, May 2025
Total Funding Raised
$1.85B
As of June 2026
Founded
2016
San Francisco, CA
Exchange Listing
Private
Not publicly traded
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About Rippling

Rippling is a San Francisco-based workforce management platform that unifies HR, IT, and finance operations into a single system of record — making it one of the most differentiated and fastest-growing enterprise software companies in the world. Founded in 2016 by Parker Conrad (CEO) and Prasanna Sankar, Rippling enables businesses to manage the full employee lifecycle from a single platform: payroll, benefits, onboarding, device management, app provisioning, expense management, and compliance — all powered by a unified employee data layer.

In May 2025, Rippling raised $450 million in its Series G at a $16.8 billion valuation — up from $13.5 billion just one year prior — with participation from Elad Gil, Sands Capital, GIC, Goldman Sachs Alternatives, Baillie Gifford, and Y Combinator. The company simultaneously announced a $200 million tender offer to repurchase equity from current and former employees. In April 2026, Rippling confirmed it had crossed $1 billion in annualized recurring revenue (ARR), growing at approximately 78% year over year — a remarkable pace for a company at that scale.

Rippling is also engaged in one of the most closely watched legal battles in Silicon Valley: a lawsuit against rival Deel over alleged corporate espionage, with Deel countersuing. CEO Parker Conrad stated in May 2025 that an IPO is not in near-term plans. The company has not filed a public S-1 as of June 2026, and analysts broadly estimate a public offering in the 2027–2028 timeframe if conditions allow.

Funding History

Round Date Amount Raised Post-Money Valuation Notable Investors
Series G May 2025 $450M ~$16.8B Elad Gil, Sands Capital, GIC, Goldman Sachs Alternatives, Baillie Gifford, Y Combinator, existing investors
Series F Apr 2024 $200M ~$13.5B Coatue Management (lead), Greenoaks Capital, Founders Fund, Dragoneer
Series E May 2023 $500M ~$11.25B Coatue (lead), Sequoia Capital, Founders Fund, Greenoaks
Series D Jan 2022 $250M ~$11.25B Sequoia Capital, Coatue, Kleiner Perkins, Founders Fund
Series C Oct 2021 $145M ~$6.5B Sequoia Capital (lead), Coatue, Kleiner Perkins, Global Growth Capital
Series B Aug 2020 $145M ~$1.35B Founders Fund (lead), Greenoaks, Bedrock, Coatue
Series A Apr 2019 $45M ~$270M Kleiner Perkins (lead), Initialized Capital
Seed 2017 ~$4.5M — Y Combinator, Initialized Capital

Figures sourced from public disclosures and press releases. Approximate. For informational purposes only. Not an offer or solicitation.

Company Details

Legal Name
Rippling, Inc.
Headquarters
San Francisco, CA
Founded
2016
Sector
Enterprise Software
Sub-Sector
HR / IT / Finance Platform
Flagship Product
Rippling Workforce Platform
CEO
Parker Conrad
Employees
~7,600
Exchange Listing
Not Public

Rippling Stock FAQs

No. Rippling is a private company and has not filed a public S-1 with the SEC as of June 2026. There is no Rippling stock ticker or exchange listing. CEO Parker Conrad stated in May 2025 that an IPO is not in near-term plans. Analysts broadly estimate a potential public offering in the 2027–2028 timeframe, subject to market conditions and company milestones. Accredited investors interested in exposure to Rippling may explore the FNEX Ventures Fund, subject to eligibility and availability.
Rippling's most recently disclosed post-money valuation is $16.8 billion, established at its Series G round in May 2025 — up from $13.5 billion in its April 2024 Series F. The company's rapid 78% ARR growth rate and $1 billion ARR milestone (achieved April 2026) may support further private valuation increases, though no new primary round has been announced. Private company valuations are based on financing round terms and are not indicative of current market value or future performance.
In early 2025, Rippling filed a lawsuit against rival HR software company Deel, alleging that a Rippling employee had been recruited by Deel to steal confidential trade secrets and customer information. Deel denied the allegations and countersued Rippling with its own claims. The litigation is ongoing as of June 2026 and represents a notable risk factor for prospective investors. The outcome of the lawsuit is uncertain, and investors should carefully review any litigation disclosures before making investment decisions.
Rippling provides a unified workforce management platform that connects HR, IT, and finance operations through a single employee data system. Businesses use Rippling to run payroll, manage employee benefits, administer compliance, onboard and offboard employees, provision and deprovision software and devices, manage corporate spending, and automate cross-departmental workflows — all from one platform. The company serves businesses of all sizes globally and differentiates itself from point solutions like Workday (HR only), Okta (IT only), or Expensify (expense only) by unifying all three categories around a shared employee record. Rippling crossed $1 billion ARR in April 2026 growing at approximately 78% year over year.
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Securities offered through FNEX Capital, LLC, member FINRA & SIPC. This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the "Memorandum"). Please read the entire Memorandum paying special attention to the risk section prior to investing. Available only to accredited investors. FNEX Ventures is required to verify accreditation status prior to accepting any investment.

This is a private company. Its shares are not publicly traded and no market pricing is provided on this page. All valuation figures are based on publicly reported funding round data and are not indicative of current market value, intrinsic value, or future performance. Private company valuations are inherently uncertain and may change materially over time. Rippling is subject to ongoing litigation with Deel; investors should independently assess litigation risk prior to making any investment decisions.

Company names, logos, and trademarks referenced or displayed on this page are used for illustrative purposes only and do not represent actual holdings, target investments, or future investment intentions of the FNEX Ventures Fund. There is no guarantee that any portfolio company will complete an initial public offering (IPO), merger, acquisition, or other liquidity event. Investment in private funds involves a high degree of risk, including the possible loss of the entire investment. Past performance is not indicative of future results.

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