Rippling (company)
Software company
From Wikipedia, the free encyclopedia
Rippling is a privately owned international software company.[3][1] Launched in 2017 in San Francisco, California,[4] it operates a cloud-based software platform that allows businesses to manage their HR, finances, and IT matters.[3]
| |
Company type | Private |
|---|---|
| Industry | Human resource management |
| Founded | 2017 in San Francisco |
| Founder | Prasanna Sankar, Parker Conrad |
| Headquarters | , United States |
Area served | International |
Key people | Parker Conrad (CEO)[1] |
| Products | Human resources platform, payroll services |
| Total equity | $16.8 billion (2025)[2] |
Number of employees | 5,000 (2025)[2] |
History
Parker Conrad and Prasanna Sankar co-founded Rippling in 2016 in San Francisco. The company creates software for companies to handle HR and onboarding, as well as payroll and other management matters.[5] It charges customers a monthly fee for access to its software platform. Rippling released a function to help file for Paycheck Protection Program (PPP) loans in April 2020.[6]
In 2023, as Rippling relied on Silicon Valley Bank to process its customers' employee paychecks, it was impacted when the bank suddenly collapsed and withdrawals were frozen.[7][3] With a funding round facilitated by Greenoaks Capital, Rippling brought in almost $500 million to cover payments during that period.[8] Afterwards, Rippling moved its banking from SVB to JPMorgan.[9]
In 2024, Rippling was valued at $13.5 billion. While it remained unprofitable, it had $1 billion in cash on hand for expansion and development.[2] Rippling had 2,800 employees as of 2024,[2] and offices in California, Ireland, the UK, India, and Australia.[3] In March 2025, Rippling sued its competitor Deel in Ireland, alleging corporate espionage. Shortly afterwards, Deel counter-sued in Delaware with an anti-SLAPP motion.[10] In April 2025, the alleged Deel spy admitted to espionage in what Fortune called "a major scandal rocking the HR world."[11] In May 2025, Rippling raised $450 million in a Series G funding round, valuing the company at $16.8 billion, up from $13.5 billion the prior year. New investors included Sands Capital, GIC, Goldman Sachs Growth, and Baillie Gifford, bringing total funding raised to $1.85 billion.[12]