Coatue Management led the round, with participation from Greenoaks, Peter Thiel’s Founders Fund, and other current investors.
The $200 million Series F investment round for the workforce management startup Rippling was led by Coatue Management and included participation from Peter Thiel’s Founders Fund, Dragoneer Investment Group, Greenoaks Capital, and other current investors. With the additional funding, Rippling’s market value has increased to $13.5 billion. According to a statement from the company, the startup has agreements with investors to provide liquidity to both present and past workers and seed investors through a tender offer.
The business, which is based in Bengaluru and San Francisco, has launched a $590 million total tender. Present and past workers may sell up to $200 million collectively, and seed investors may sell up to $390 million. The Indian Startup ESOP report claims that this is one of the biggest tender offerings that India has ever made.
With more than 500 team members in India, the startup employs over 2,500 people worldwide. In India, Rippling conducts both sales and operations, with a particular emphasis on R&D. Additionally, the business is aggressively expanding its presence and hiring efforts in the area. Rippling, a company founded in 2016 by Parker Conrad Prasanna Sankar, provides companies with a single platform to handle their financial, IT, and HR departments.
The HRtech firm helps businesses automate and streamline all of their labor processes, including payroll, spending, benefits, and device management, into a single system. For instance, in less than 90 seconds, companies can onboard a new employee from anywhere in the world and set up their payroll, corporate card, computer, benefits, and even integrate third-party apps like Slack and Microsoft 365.
Worldwide investors, such as Kleiner Perkins, Founders Fund, Sequoia Capital, Greenoaks, and Bedrock Capital, have contributed $1.2 billion to Rippling’s investment round. At present, the platform caters to customers in over 150 nations.
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