Rippling funding rounds & valuation history
Rippling, the San Francisco HR, IT and spend-management software company, from its 2019 Series A to the 2025 Series G and employee share repurchase, sourced to Rippling’s own announcements, TechCrunch and Crunchbase News.
Round history
Newest first. Dashed badges and striped rows are not closed transactions. “—” means the source does not disclose the figure or it cannot be computed on the same basis; see the note in each row.
| Date | Status | Round | Amount | Lead / buyer | Valuation | Val. ÷ run-rate | Source |
|---|---|---|---|---|---|---|---|
Tender |
Employee share repurchaseRippling “signed agreements to repurchase up to $200M of equity from current and former employees”. A buyback of existing shares, not new money, so it is Status, not the last-closed valuation. |
Up to $200M |
Rippling (repurchase) |
Not stated separatelyAnnounced with the Series G; Rippling did not state a separate price |
—Not disclosedTender price, not a new round; no multiple |
||
Closed round |
Series GTechCrunch: total raised $1.85B; annualised revenue of $570M is attributed to sources speaking to The Information, not to Rippling, so no multiple. |
$450M |
No lead namedInvestors: New: Sands Capital, GIC, Goldman Sachs Growth, Baillie Gifford; existing: Elad Gil, Y Combinator and others |
$16.8BStated by Rippling (“values the company at $16.8 billion”); pre- or post-money not stated1.24× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Tender |
Tender offerCEO Parker Conrad to TechCrunch: “a $590 million tender, with $200 million available for employees and $390 million available for seed and other investors”. Existing shares; no new money for Rippling. |
$590M |
Series F investors |
Not stated separatelyPrice not stated; run alongside the Series F |
—Not disclosedTender price, not a new round; no multiple |
||
Closed round |
Series FTechCrunch: “almost entirely an inside round”. Rippling’s post is undated in the capture (updated Sep 2024); the date is TechCrunch’s interview report. |
$200M |
CoatueWith: Dragoneer (new); Founders Fund, Greenoaks and other existing investors |
$13.5BStated by Rippling (“values the company at $13.5 billion”); TechCrunch reported $13.4B; basis not stated1.20× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Closed round |
Series ERaised in about 12 hours during the Silicon Valley Bank collapse, when $545M of customer payroll money was frozen (Rippling). Greenoaks described “light structure — senior to other equity holders” (TechCrunch). Flat round. |
$500M |
Greenoaks |
$11.25BTechCrunch: “values the company at $11.25 billion, the same valuation” as the Series D; basis not stated1.00× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Closed round |
Series DCo-led. Total funding about $700M (Crunchbase News). |
$250M |
Bedrock, Kleiner PerkinsWith: Y Combinator, Sequoia Capital and other existing investors |
$11.25BStated by Rippling (“values the company at $11.25 billion”); basis not stated1.73× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Closed round |
Series CTotal funding $450M (TechCrunch). |
$250M |
Sequoia Capital Global EquitiesWith: Greenoaks, Kleiner Perkins, Founders Fund, Initialized, YC, Threshold Ventures |
$6.5BStated by Rippling (“values the company at $6.5 billion”); basis not stated4.81× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Closed round |
Series B |
$145M |
Founders FundWith: Greenoaks, Coatue, Bedrock; existing Kleiner Perkins and others |
$1.35BReported by TechCrunch (“a valuation of $1.35 billion”); Rippling’s post does not state it5.00× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Closed round |
Series ARippling graduated from Y Combinator’s winter 2017 batch (TechCrunch, 2025). |
$45M |
Kleiner PerkinsWith: Initialized Capital, Threshold Ventures, Y Combinator |
$270MTechCrunch: “A source confirms the round was a stunning $270 million valuation”; not stated by Rippling |
—Not disclosedNo run-rate stated in the announcement |
Valuation at each closed round
Closed primary rounds. Tender offers and the 2025 buyback are not plotted.
Sources: Rippling; TechCrunch; Crunchbase News. US$ billions, linear scale.
Timeline
Each round and share sale, oldest first.
- 3 Apr 2019 · Closed
Series A: $45M at $270M, led by Kleiner Perkins.
- 4 Aug 2020 · Closed
Series B: $145M at $1.35B, led by Founders Fund.
- 21 Oct 2021 · Closed
Series C: $250M at $6.5B, led by Sequoia Capital Global Equities.
- 11 May 2022 · Closed
Series D: $250M at $11.25B, co-led by Bedrock and Kleiner Perkins.
- 17 Mar 2023 · Closed
Series E: $500M at a flat $11.25B, raised in about 12 hours during the SVB collapse.
- 22 Apr 2024 · Closed
Series F: $200M at $13.5B, led by Coatue, plus a $590M tender.
- 9 May 2025 · Closed
Series G: $450M at $16.8B, plus up to $200M repurchased from employees.
Cite this dataset
Free to quote with a link back. Copy this citation:
Rippling Funding Rounds & Valuation History. Private Valuation & Funding Round Tracker, GrowthNavigateFunding.net, updated 13 Nov 2026. https://growthnavigatefunding.net/funding/rippling/
Download the data
The same 9 rows as the table: numeric US$ columns, empty cells where a figure is not disclosed, and a source URL for every row.
- File
rippling-rounds.csv(UTF-8, comma-separated)- Stable URL
https://growthnavigatefunding.net/wp-content/uploads/2026/11/rippling-rounds.csv- Columns
id,date,date_precision,status,transaction_type,round,amount_usd_low,amount_usd_high,lead_or_buyer,co_leads,valuation_usd_low,valuation_usd_high,valuation_basis,valuation_to_run_rate_multiple,multiple_bound,multiple_basis,step_up_vs_prior_closed,price_per_share_usd_low,price_per_share_usd_high,shares,source,source_url,other_source_urls,notes,last_updated- Updated
- (IST)
Methodology & status definitions
How each row is labelled and calculated.
Closed round
A primary round announced by the company or confirmed in the press, bringing new money to the company.
Tender
A sale of existing shares (employee tender, secondary or buyback). It brings no new primary capital, so it is Status, not the last-closed valuation; no step-up or multiple.
Valuation ÷ run-rate
Post-money valuation ÷ the run-rate the company stated in that announcement (GNF calc.). Where the run-rate is “crossed” or “over” a figure, the multiple is shown as “under X×”. No row qualifies here unless shown, so no multiple is invented.
What is not a separate row
The 2016–2018 seed round, debt and payroll credit facilities, secondary-market price estimates, and legal disputes (including with Deel), which are not funding events.
Updates & corrections
This page stays at one address and is updated in place; the “Last updated” date above drives the citation and the dataset metadata. Corrections: hello@growthnavigatefunding.net. Informational only; not investment advice.
Changelog
- : Dataset first compiled (batch 2, not yet published).
Sources
- Rippling: Rippling Announces Series G Fundraising and Tender Offer, 9 May 2025
- TechCrunch: Rippling raises $450M at a $16.8B valuation, reveals YC is a customer, 9 May 2025
- Rippling: Rippling Announces Series F Fundraising and Tender Offer, Apr 2024
- TechCrunch: Rippling’s Parker Conrad on the company’s new round…, 22 Apr 2024
- TechCrunch: A $500 million term sheet in 12 hours: How Rippling struck a deal as SVB was melting down, 17 Mar 2023
- Rippling: Rippling raises $500M in Series E financing, Mar 2023
- Rippling: Rippling raises $250M in Series D funding, 11 May 2022
- Crunchbase News: Parker Conrad’s Rippling Reaches $11.25B Valuation With Series D, 11 May 2022
- Rippling: Rippling raises $250M in Series C funding, 21 Oct 2021
- TechCrunch: Parker Conrad’s Rippling is now valued at $6.5 billion…, 21 Oct 2021
- TechCrunch: Rippling nabs $145M at a $1.35B valuation…, 4 Aug 2020
- Rippling: Rippling Announces $145M in Series B Funding, 4 Aug 2020
- TechCrunch: Rippling raises $45M at $270M to be the biz app identity layer, 3 Apr 2019