In a major move reshaping the HR technology landscape, Rippling has raised $450 million in a Series G funding round, pushing its valuation to an impressive $16.8 billion. This leap in valuation—up from $13.4 billion just a year ago—positions the company as one of the most dominant players in the workforce management space.
Alongside the funding round, the company is also offering a $200 million tender to provide liquidity for current and former employees—a growing trend among late-stage startups aiming to retain top talent and reward early contributions.
The investment round brought in a mix of new and existing backers, including Sands Capital, GIC, Goldman Sachs Growth, Baillie Gifford, Elad Gil, and Y Combinator. Rippling, which originally launched in 2016, now serves more than 20,000 businesses globally and employs over 4,000 people. The company recently reached an annualized revenue run rate of approximately $570 million, underscoring its rapid ascent.
What sets this moment apart is Rippling’s strategic push into the startup ecosystem, with Y Combinator not only returning as an investor but also adopting Rippling as its internal HR platform. According to a new case study, Rippling is now recommended to all of YC’s accelerator startups as the preferred tool for managing HR and IT operations. It even rolled out a new offering—Founder Mode—exclusively tailored for YC-funded startups.
Building on this momentum, Rippling recently introduced the Startup Stack, an initiative designed to support earlier-stage companies with six months of free access to its platform. With clients including Cursor (Anysphere), Clay, and Sierra, the program demonstrates Rippling’s intention to dominate the startup market from the ground up.
However, Rippling’s aggressive growth hasn’t come without friction. The company is currently engaged in a high-profile legal battle with rival Deel, another YC graduate, over allegations of corporate espionage. Deel has responded with a countersuit, rejecting the claims and making accusations of its own. The dispute has added a layer of intensity to what is already a fiercely competitive sector.
Despite the legal drama, Rippling continues to expand both its offerings and its global footprint. What began as a payroll and benefits tool has evolved into a full-fledged business operating system, now encompassing over two dozen products, from identity and access management to corporate cards and bill pay.
With a war chest of $1.85 billion raised to date, Rippling is firmly positioned to keep building, scaling, and redefining how modern businesses manage their people, platforms, and payments.
