Rippling Raises $45M
Rippling , the startup by Zenefits founder Parker Conrad offering HR and IT solutions in a single Employee Management System, has raised $45m in a Series A round led by Kleiner Perkins, with participation from existing investors Initialized Capital, Threshold Ventures (formerly DFJ Venture), Y Combinator, and others.
Founded in 2016, San Francisco-based Rippling is “solving an unsexy problem” – the “administrative pain” of disconnected business systems, and the “accompanying grind” of managing information about employees in hundreds of different places. Rippling claims to be the first employee system that works across the entire company, allowing businesses to onboard employees and instantly take care of their payroll, benefits, work computer, software and security, app access, and single sign-on.
When using the platform to hire someone, Rippling takes care of their payroll, benefits, and new-hire paperwork, and can also ship them a preconfigured computer, set up their keycard access, and go all the way to create their user account in all of the cloud apps a company uses, like GSuite, Slack, Github, and Dropbox. Rippling currently integrates with over 500 different apps, from Salesforce to AWS – “something no other HR system can claim.”
Bottom Line: A team of 67 and a $270m valuation.