Rippling Raises $450 Million

HR tech startup Rippling has raised a $450 million Series G round at a $16.8 billion valuation. It is also conducting a $200 million tender offer to give current and former employees some liquidity. The equity raise marks a big jump in valuation from a year ago. In April 2024, Rippling was valued at $13.4 billion when it raised a $200 million Series F round led by Coatue and a $590 million tender offer, with $200 million available for employees. (The other $390 million was available for seed and other investors.) The latest financing includes participation from a group of new and existing investors. New backers include Sands Capital, GIC, Goldman Sachs Growth, and Baillie Gifford. Existing investors such as Elad Gil, Y Combinator, and others also participated. Rippling is one of Y Combinator’s many breakout success stories. It graduated from the winter 2017 cohort and YC apparently became a client of Rippling’s earlier this year.