How much has Rippling raised?
Rippling has raised roughly $1.85 billion in equity from seed through Series G since 2016. Its most recent priced round was a $450M Series G in May 2025 at a $16.8 billion valuation, and secondary share sales reported around December 2025 implied a valuation near $20.8 billion. CEO Parker Conrad has said an IPO is not imminent, preferring annual tender offers for liquidity.
- Total raised
- ~$1.85B
- Rounds
- Seed–Series G
- Latest round
- $450M Series G
- Latest valuation
- $16.8B (2025)
- First raised
- 2017
- Notable backer
- Founders Fund
Rippling's funding rounds
From a 2017 seed to a $16.8B Series G in 2025 — including an emergency $500M raise during the 2023 SVB crisis.
- 2017Seed — ~$7MLed by Initialized Capital as Parker Conrad and Prasanna Sankar start Rippling.
- Apr 2019Series A — ~$270M valuation$45M led by Mamoon Hamid at Kleiner Perkins — then Kleiner's largest early-stage check.
- Aug 2020Series B — $1.35B valuation$145M led by Founders Fund; Rippling becomes a unicorn.
- Oct 2021Series C — $6.5B valuation$250M led by Sequoia's growth funds, with Greenoaks.
- May 2022Series D — ~$11.25B valuation$250M co-led by Bedrock and Kleiner Perkins.
- Mar 2023Series E — $500M in days (SVB crisis)Greenoaks leads an emergency round at $11.25B so Rippling can keep funding customer payroll.
- Apr 2024Series F — $13.5B valuation$200M led by Coatue (with Greenoaks, Founders Fund, Dragoneer), plus a ~$590M tender offer.
- May 2025Series G — $16.8B valuation$450M from a syndicate incl. GIC, Goldman, Baillie Gifford, Elad Gil, and Y Combinator, plus a $200M tender.
- Dec 2025Secondaries imply ~$20.8BReported secondary transactions value the company near $20.8B.
Sources:CNBC — Rippling $16.8B Series G
How much has Rippling raised in total?
Rippling has raised about $1.85 billion in equity across nearly every letter of the alphabet — a 2017 seed through a 2025 Series G — alongside large employee tender offers that provide liquidity without an IPO. The financing reflects both rapid growth and unusual moments, most notably a $500 million Series E raised in days during the March 2023 Silicon Valley Bank collapse so the company could keep funding customer payrolls.
Who are Rippling's investors?
Rippling's cap table spans many of the top venture and growth firms: Kleiner Perkins (Series A and D), Founders Fund (Series B), Sequoia (Series C), Greenoaks (Series C, E, and the SVB-era round), Bedrock, Coatue (Series F), and a Series G syndicate that includes GIC, Goldman Sachs Alternatives, Baillie Gifford, Sands Capital, and angel Elad Gil. Y Combinator was revealed in 2025 as both a customer and an investor.
Is Rippling profitable, and will it IPO?
Rippling reached roughly $1 billion in annualized revenue by early 2026, growing about 78% year over year, but CEO Parker Conrad has repeatedly said an IPO is not imminent — that the company would 'really need to be profitable before we go public.' Instead of listing, Rippling has run regular tender offers (about $590M in 2024 and $200M in 2025) to give employees and early investors liquidity while staying private.
What does Rippling's funding mean if you sell into them?
A company raising at a $16.8 billion valuation and expanding across HR, IT, and finance is standing up new teams and budgets constantly, each a potential entry point. The late-stage, institutional investor base — GIC, Goldman, Baillie Gifford — signals a maturing buyer with real procurement and security governance. Map the specific function you serve (HR ops, IT, security, or finance) and time outreach to the product areas the latest capital is funding.
As of June 2026.Sources:CNBC — Rippling valued at $16.8BTechCrunch — Rippling $450M at $16.8B
Rippling — frequently asked questions
