Rippling Secures $450M Series G, Hits $16.8B Valuation

HR tech startup Rippling has closed a $450 million Series G funding round, pushing its valuation to $16.8 billion. Alongside the raise, it’s launching a $200 million tender offer to provide liquidity for current and former employees.

This new valuation marks a significant leap from April 2024, when Rippling raised $200 million in a Series F round at a $13.4 billion valuation, led by Coatue. That round also included a $590 million tender offer, with $200 million earmarked for employees and the remainder for early investors.

The latest funding—first reported by Bloomberg—includes backing from both new and existing investors. New participants include Sands Capital, GIC, Goldman Sachs Growth, and Baillie Gifford, while existing supporters like Elad Gil and Y Combinator also joined in.

With the new capital, Rippling’s total funding now stands at $1.85 billion. The company boasts over 20,000 customersand a team of more than 4,000 employees. Additional investors include Kleiner Perkins, Greenoaks Capital, and Founders Fund. It reportedly reached $570 million in annualized revenue.

Founded in 2016, Rippling now offers around two dozen products, ranging from payroll and benefits to SSO, identity management, bill payments, and corporate cards. The fresh funding will fuel global expansion, product enhancements, and the development of new tools.