San Francisco-based workforce management platform Rippling has secured $450 million in Series G funding, lifting its valuation to an impressive $16.8 billion, up from $13.4 billion last year. Alongside the fresh capital, the company also launched a $200 million tender offer, allowing employees and early investors to cash out shares—a move often seen as a sign of internal confidence in long-term growth.
The round saw participation from both new and existing investors, including Sands Capital, Singapore sovereign wealth fund GIC, Goldman Sachs Growth, and Baillie Gifford. Long-standing backers such as Elad Gil and Y Combinator also increased their stakes.
From Investor to Customer: YC Deepens Relationship
In a development underscoring its growing influence in the startup ecosystem, Y Combinator, an early investor, is now also a customer of Rippling. The accelerator has standardized on Rippling as its official HR and operations platform for all portfolio startups, marking a significant validation for Rippling’s “Operating System for Work” vision.
Complementing this, Rippling recently launched “Founder Mode,” a new service tier offering discounted pricing and tools customized for early-stage companies. The company claims over 15,000 startups already run on Rippling, including fast-growing tech firms like Cursor, Clay, and Sierra.
Expansion Amidst Legal Turbulence
Despite facing a high-profile legal dispute with Deel, another YC alumni, Rippling’s momentum shows no signs of slowing. The legal battle, centering around accusations of corporate espionage and counterclaims of defamation, has not dented investor appetite or dampened the company’s valuation trajectory.
CEO Parker Conrad emphasized that Rippling remains focused on unifying traditionally fragmented back-office functions—HR, IT, finance—into one seamless platform, underpinned by AI-driven automation and data integration.
Fueling Global Growth and New Capabilities
The newly raised funds will accelerate Rippling’s international expansion and product roadmap, with a specific emphasis on AI-powered workflows and deeper integrations across enterprise functions. Conrad frames Rippling’s mission not as simply offering tools, but as redefining the primitives of business software.
Since its founding in 2016, Rippling has raised a total of $1.85 billion and grown its customer base to over 20,000 businesses, while scaling its workforce to more than 4,000 employees globally.