Funding round
Rippling Series A
Rippling, which works in workforce management platform licensing in San Francisco, raised $45M in a Series A round announced on 3 Apr 2019, led by Kleiner Perkins, at a $270M post-money valuation. 7 firms took part, 3 of them already investors. It is Rippling's first venture round on record.
$45M
Amount raised
$270M
Post-money valuation
$225M pre-money
7
Investors
1 lead
17%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Rippling at $270M after the new money. The $45M bought investors about 17% of the company. It is Rippling's first venture round on record, 3 years after it was founded in 2016. It is 2.4% of the $1.87B Rippling has raised in the venture rounds on record. Rippling raised again 16 months later: a Series B round of $145M in Aug 2020, at $1.35B post-money.
Rippling's funding rounds
Rippling has 7 venture rounds on record. This one is highlighted.
- Series A this round 3 Apr 2019, led by Kleiner Perkins $45M$270M post-money
- Series B 4 Aug 2020, led by Founders Fund $145M$1.35B post-money
- Series C 21 Oct 2021, led by Sequoia Capital $279M$6.52B post-money
- Series D 11 May 2022, led by Bedrock and Kleiner Perkins $250M$11.25B post-money
- Series E 21 Mar 2023, led by Greenoaks $500M$11.25B post-money
- Series F 22 Apr 2024 $200M$13.50B post-money
- Series G 9 May 2025 $450M$16.80B post-money
Investors
Who put money in
Kleiner Perkins led the round with 6 other firms. Initialized, Threshold and Y Combinator had backed Rippling before.
Lead investor
- Kleiner Perkins backs 285 venture-backed companies new investor
Also in the round
- backs 115 venture-backed companies existing investor
- backs 60 venture-backed companies existing investor
- Y Combinator backs 1,295 venture-backed companies existing investor
- backs 227 venture-backed companies new investor
- Snow Leopard Technology Ventures new investor
- backs 8 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
909 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.0M, and this round was 5.6 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Moveworks Tech Companies | 17 Apr 2019 | $30M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 1 Apr 2019 | $25M | not disclosed | Sequoia Capital and SV Angel |
| Tech Companies | 2 Apr 2019 | $25M | not disclosed | Banyan Ventures |
| Tech Companies | 3 Apr 2019 | $23M | not disclosed | not named |
| Tech Companies | 17 Apr 2019 | $22M | not disclosed | Goldman Sachs Principal Strategic Investments |
| Tech Companies | 16 Apr 2019 | $16M | $65M | Tiger Global |
| Tech Companies | 25 Apr 2019 | $15M | not disclosed | Shasta Ventures |
| Tech Companies | 1 Apr 2019 | $15M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Rippling raise in its Series A round?
Rippling raised $45M in its Series A round, announced in Apr 2019.
Who led Rippling's Series A round?
Kleiner Perkins led it, with Initialized, Threshold, Y Combinator, Liquid 2 and Snow Leopard Technology Ventures and 1 more.
What was Rippling's valuation at the Series A round?
$270M post-money ($225M pre-money).
How does it compare with other Series A rounds in Tech Companies?
909 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.0M, and this round was 5.6 times the median.
Did Rippling raise again after this round?
Yes: a Series B round in Aug 2020 of $145M at $1.35B post-money.