Funding round
Rippling Series C
Rippling, which works in workforce management platform licensing in San Francisco, raised $279M in a Series C round announced on 21 Oct 2021, led by Sequoia Capital, at a $6.52B post-money valuation. 7 firms took part. It is Rippling's third venture round on record; the one before was a Series B in Aug 2020.
$279M
Amount raised
$6.52B
Post-money valuation
$6.24B pre-money
7
Investors
1 lead
4.8x
Step-up from the Series B
$1.35B in Aug 2020
4.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Rippling at $6.52B after the new money, 4.8 times the $1.35B of its Series B (Aug 2020). The $279M bought investors about 4.3% of the company. It came 14 months after Rippling's Series B. It is 15% of the $1.87B Rippling has raised in the venture rounds on record. Rippling raised again 7 months later: a Series D round of $250M in May 2022, at $11.25B 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 4 Aug 2020, led by Founders Fund $145M$1.35B post-money
- Series C this round 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
Sequoia Capital led the round with 6 other firms.
Lead investor
- Sequoia Capital backs 589 venture-backed companies new investor
Also in the round
- Greenoaks backs 77 venture-backed companies new investor
- backs 115 venture-backed companies new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
- backs 60 venture-backed companies new investor
- Y Combinator backs 1,295 venture-backed companies new investor
- Founders Fund backs 368 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
500 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 4.5 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Orca Security Tech Companies | 5 Oct 2021 | $550M | $1.80B | Temasek |
| ClickUp Tech Companies | 27 Oct 2021 | $400M | $4.00B | Andreessen Horowitz and Tiger Global |
| Tech Companies | 8 Oct 2021 | $275M | $10.00B | Sequoia Capital and Coatue |
| Tech Companies | 11 Oct 2021 | $250M | $6.00B | Greenoaks and Insight Partners |
| Tech Companies | 28 Oct 2021 | $188M | $1.30B | Sapphire Ventures |
| HiBob Tech Companies | 13 Oct 2021 | $150M | $1.65B | General Atlantic |
| Tech Companies | 7 Oct 2021 | $135M | $1.00B | Altimeter |
| Tech Companies | 26 Oct 2021 | $111M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Rippling raise in its Series C round?
Rippling raised $279M in its Series C round, announced in Oct 2021.
Who led Rippling's Series C round?
Sequoia Capital led it, with Greenoaks, Initialized, Kleiner Perkins, Threshold and Y Combinator and 1 more.
What was Rippling's valuation at the Series C round?
$6.52B post-money ($6.24B pre-money).
How does it compare with other Series C rounds in Tech Companies?
500 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 4.5 times the median.
Did Rippling raise again after this round?
Yes: a Series D round in May 2022 of $250M at $11.25B post-money.