Rippling

Rippling offers a cloud-based workforce management platform that includes a wide range of HR, IT, and finance-related services for small and medium-sized enterprises (SMEs) and mid-market companies. The platform brings employee data from the HR, IT, and finance functions and from third-party sources into a unified system (“Rippling Unity”) to enable businesses to update, automate, analyze, and report on employee-related workflows and information. Rippling was founded by Parker Conrad, former CEO and co-founder of Zenefits (acquired by TriNet in February 2022). 

Rippling’s services include 1) HR services such as global payroll, professional employer organization, employer of record services, employee benefits, talent management, time and attendance management, and employee surveys, 2) IT services including remote application and device management as well as security and compliance features, and 3) finance-related products such as expense management and corporate cards. 

Rippling’s workforce management platform is priced starting at USD 8 per user per month (November 2022) and also offers customers the option to pay only for the services they require due to its modular product nature.

Key customers and partnerships

Rippling announced a partnership with corporate card platform Ramp in September 2021 enabling employers to issue Ramp cards as a part of the onboarding process, lock or terminate cards, and monitor employee spending.

Funding and financials

In March 2023 , the company raised USD 500 million in a funding round led by Greenoaks Capital at a valuation of USD 11.25 billion, identical to its previous capital raise in May 2022 . This funding round was initially intended to ensure timely payrolls for its customers that were affected by SVB’s collapse the week before. Following the FDIC’s guarantee that depositors can access their money, the funds were diverted toward insulating Rippling from potential macroeconomic challenges and investing in research and product development.