Rippling raises $250 million in Series D funding

HR software firm Rippling has raised $250 million in a round co-led by Bedrock and Kleiner Perkins, with participation from existing investors Y Combinator, Sequoia Capital, and more. The round values the company at $11.25 billion.

The San Francisco-based company offers services to businesses to manage their human resource and information technology operations – such as employees’ onboarding, payroll management, and benefits.

The company’s annual recurring revenue today is above $100 million. In 2020, ARR was around $13 million.