Funding round
Rippling Series D
Rippling, which works in workforce management platform licensing in San Francisco, raised $250M in a Series D round announced on 11 May 2022, led by Bedrock and Kleiner Perkins, at a $11.25B post-money valuation. 4 firms took part. It is Rippling's fourth venture round on record; the one before was a Series C in Oct 2021.
$250M
Amount raised
$11.25B
Post-money valuation
$11.00B pre-money
4
Investors
2 leads
1.7x
Step-up from the Series C
$6.52B in Oct 2021
2.2%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Rippling at $11.25B after the new money, 1.7 times the $6.52B of its Series C (Oct 2021). The $250M bought investors about 2.2% of the company. It came 7 months after Rippling's Series C. It is 13% of the $1.87B Rippling has raised in the venture rounds on record. Rippling raised again 10 months later: a Series E round of $500M in Mar 2023, 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 21 Oct 2021, led by Sequoia Capital $279M$6.52B post-money
- Series D this round 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
Bedrock and Kleiner Perkins led the round with 2 other firms.
Lead investors
- backs 38 venture-backed companies new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
Also in the round
- Y Combinator backs 1,295 venture-backed companies new investor
- Sequoia Capital backs 589 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
198 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 2.5 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 6 May 2022 | $200M | not disclosed | Tiger Global |
| Tech Companies | 8 May 2022 | $182M | $1.40B | not named |
| Thought Machine Tech Companies | 18 May 2022 | $160M | $2.70B | Temasek |
| Cribl Tech Companies | 24 May 2022 | $150M | $2.50B | Tiger Global Management |
| Tech Companies | 24 May 2022 | $135M | $1.60B | Institutional Venture Partners |
| Tech Companies | 17 May 2022 | $100M | $1.10B | Thoma Bravo |
| Tech Companies | 16 May 2022 | $100M | $1.30B | Insight Partners |
| Tech Companies | 25 May 2022 | $100M | $8.00B | Greenoaks and Coatue |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Rippling raise in its Series D round?
Rippling raised $250M in its Series D round, announced in May 2022.
Who led Rippling's Series D round?
Bedrock and Kleiner Perkins led it, with Y Combinator and Sequoia Capital.
What was Rippling's valuation at the Series D round?
$11.25B post-money ($11.00B pre-money).
How does it compare with other Series D rounds in Tech Companies?
198 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 2.5 times the median.
Did Rippling raise again after this round?
Yes: a Series E round in Mar 2023 of $500M at $11.25B post-money.