HR and IT software startup, Rippling has closed $145 million in funding – Series B that catapults the company to a valuation of $1.35 billion. Since coming out of stealth mode, Rippling has attracted thousands of customers, and become the highest-rated all-in-one HR and IT software available.
According to Rippling, is the first system-of-record for employee data that enables businesses to easily manage their employees’ payroll, benefits, devices, cloud apps, and more—all in one system. It is a big jump for the company that had raised $45 million at a valuation of $270 million just a year back.
The funding was led by Founders Fund, with the participation of other investors including Greenoaks Capital, Coatue Management, and Bedrock Capital, as well as existing investors including Kleiner Perkins, Initialized Capital, and Y Combinator.