- Rippling, an HR tech powerhouse, is set to raise $870M at a $13.4B valuation.
- Founders Fund’s Napoleon Ta may invest up to $310M, their largest single check ever.
- Rippling and rivals like Gusto and Deel attract massive investments.
Late-stage HR tech powerhouse Rippling is making waves as it gears up for a monumental funding round. Sources reveal that the company is in discussions to raise a staggering $870 million, comprising $200 million in new capital and a whopping $670 million worth of secondary shares.
This colossal injection could propel Rippling’s valuation to a jaw-dropping $13.4 billion, a meteoric rise from its previous $11.25 billion valuation just a year ago.
Founders fund flexes financial muscle
Existing investor Napoleon Ta at Founders Fund is poised to double down with a potential investment of up to $310 million, marking the largest single check ever written by the esteemed firm.
Notably, Coatue is spearheading this round, while Greenoaks, another existing investor, is also participating.
Rippling’s meteoric ascent in the HR tech domain, offering payroll services and remote labor management solutions, has captured the attention of investors worldwide.
HR tech titans clash in epic battle
With titans like Gusto valued at $9.5 billion, Deel at $12 billion, Remote exceeding $3 billion, and now Rippling soaring to $13.5 billion, the HR tech landscape is witnessing a colossal influx of venture capital and equity.
As the IPO market remains sluggish, existing shareholders, employees, and founders alike are seizing opportunities for liquidity through substantial secondary transactions.
Simultaneously, newcomers like Remofirst are disrupting the space, raising $25 million to challenge established players with low-cost hiring products.
