Funding round
Rippling Series B
Rippling, which works in workforce management platform licensing in San Francisco, raised $145M in a Series B round announced on 4 Aug 2020, led by Founders Fund, at a $1.35B post-money valuation. 8 firms took part. It is Rippling's second venture round on record; the one before was a Series A in Apr 2019.
$145M
Amount raised
$1.35B
Post-money valuation
$1.21B pre-money
8
Investors
1 lead
5.0x
Step-up from the Series A
$270M in Apr 2019
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Rippling at $1.35B after the new money, 5.0 times the $270M of its Series A (Apr 2019). The $145M bought investors about 11% of the company. It came 16 months after Rippling's Series A. It is 7.8% of the $1.87B Rippling has raised in the venture rounds on record. Rippling raised again 14 months later: a Series C round of $279M in Oct 2021, at $6.52B post-money.
Rippling's funding rounds
Rippling has 7 venture rounds on record. This one is highlighted.
- Series A 3 Apr 2019, led by Kleiner Perkins $45M$270M post-money
- Series B this round 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
Founders Fund led the round with 7 other firms.
Lead investor
- Founders Fund backs 368 venture-backed companies new investor
Also in the round
- Greenoaks backs 77 venture-backed companies new investor
- Coatue backs 229 venture-backed companies new investor
- backs 38 venture-backed companies new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
- backs 115 venture-backed companies new investor
- Y Combinator backs 1,295 venture-backed companies new investor
- backs 60 venture-backed companies new investor
Joined the board: Napoleon Ta (Founders Fund).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations, working capital, hiring, geographic expansion, sales and marketing and acquisitions.
- Product development
- Scaling operations
- Working capital
- Hiring
- Geographic expansion
- Sales and marketing
- Acquisitions
Comparable rounds
How it compares
682 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $27M, and this round was 5.5 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 14 Aug 2020 | $120M | $3.00B | Vulcan Capital |
| Tech Companies | 25 Aug 2020 | $118M | not disclosed | Insight Partners |
| Grafana Labs Tech Companies | 17 Aug 2020 | $50M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 11 Aug 2020 | $40M | $160M | Insight Partners |
| Dutchie Tech Companies | 18 Aug 2020 | $35M | not disclosed | Thrive Capital |
| OneStudyTeam Tech Companies | 12 Aug 2020 | $30M | not disclosed | Battery Ventures |
| Tech Companies | 4 Aug 2020 | $30M | not disclosed | Aspect Ventures |
| Tech Companies | 19 Aug 2020 | $29M | not disclosed | Highland Europe |
Sources
Where this comes from
Reported by 10 sources.
Questions
Frequently asked
How much did Rippling raise in its Series B round?
Rippling raised $145M in its Series B round, announced in Aug 2020.
Who led Rippling's Series B round?
Founders Fund led it, with Greenoaks, Coatue, Bedrock, Kleiner Perkins and Initialized and 2 more.
What was Rippling's valuation at the Series B round?
$1.35B post-money ($1.21B pre-money).
How does it compare with other Series B rounds in Tech Companies?
682 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $27M, and this round was 5.5 times the median.
Did Rippling raise again after this round?
Yes: a Series C round in Oct 2021 of $279M at $6.52B post-money.