Rippling
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| ISIN | 🆔 |
|---|---|
| Founded 📆 | Founded in 2017 |
| Founders 👔 | Parker Conrad and Prasanna Sankar |
| Headquarters 🏙️ | , San Francisco , USA |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | https://www.rippling.com |
| 📇 Address | |
| 📞 telephone | |
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Rippling is a global workforce management platform that offers a wide array of HR, IT, and finance products, including payroll, benefits administration, time tracking, expense management, device management.[1]
Founded in 2016 by Parker Conrad and Prasanna Sankar, Rippling is headquartered in San Francisco, California.[2]
History[edit]
In 2016, Parker Conrad and Prasanna Sankar founded Rippling and began running the company out of Parker's home in the Mission District of San Francisco.[2]
Rippling was accepted into Y Combinator's Winter 2017 Batch[3] and after months of developing and testing, started marketing and selling its product in October 2018.[4]
In November 2021, Rippling launched its Unity platform, allowing companies to manage employee data broadly in many business systems beyond just the ones used by the HR department.[5]
In 2022, hired CTO Albert Strasheim[6] and CFO Adam Swiecicki.[7] The company also announced two of its biggest product launches to date, Rippling Global[8] and Finance Cloud.[9]
In 2023, Rippling opened new offices around the world including a 30,000-square-foot office in Bangalore[10] and an office in London.[11] It also established its European headquarters in Dublin[12] along with satellite offices in Beijing and Sydney.[13]
Funding[edit]
Rippling was founded in 2016 by Parker Conrad and Prasanna Sankar in San Francisco, California. It was part of Y Combinator's Winter 2017 Batch.[14]
In March 2017, Rippling raised $7M in a Seed Round led by Initialized Capital followed by a $45M Series A round led by Kleiner Perkins in April 2019.[15]
In August 2020, Founders Fund led a $145M Series B round, valuing the company at $1.35 billion and securing its status as a unicorn.[16]
Rippling went on to raise $250M in a Series C round led by Sequoia Capital in October 2021.[17]
In May 2022, Rippling raised $250M in a Series D round led by Bedrock Capital and Kleiner Perkins, valuing the company at $11.25 billion.[18]
In October 2022, Rippling launched its global payroll platform on stage at TechCrunch Disrupt in San Francisco, officially entering the global HR and payroll software space.[19]
In March 2023, Rippling announced it had raised $500M in a Series E round led by Greenoaks.[20]
Product[edit]
Rippling offers an all-in-one software suite that helps companies streamline HR, IT, and finance operations[21] and consolidate employee data management.[22] Rippling operates as a "compound" company, developing and deploying multiple business lines with products that possess shared components and can be seamlessly integrated rather than focusing on one specific software vertical.[23] For this reason, Rippling prioritizes hiring former founders who can operate autonomously with an entrepreneurial mindset.[24]
Rippling's product offering includes US and global payroll, benefits administration, time and attendance, learning management, expense management, device and identity management, and more.[25] In addition, Rippling acts as a Professional Employer Organization and Employer of Record on behalf of clients.
HR Cloud[edit]
Rippling's HR Cloud includes global payroll, onboarding and offboarding, benefits, time and attendance, talent management, learning management, and Pulse surveys.[1] All of Rippling's products are built on top of its middleware platform, Unity, which powers automated workflows, unified analytics, permissions, and policies for the entire product suite.[5] These capabilities allow companies to onboard employees and contractors in Rippling within minutes, automate paperwork and tasks related to employee life events and compliance, and streamline offboarding. The global HRIS centralizes employee data and localizes employee experience based on work location/[1]
IT Cloud[edit]
Rippling's IT Cloud suite combines IT management with HR data, simplifying IT management from onboarding to offboarding. This includes App and Identity Management, App Provisioning and Deprovisioning, Single Sign-On (SSO), Team Password Management, Multi-Factor Authentication (MFA), App Activity Audit Log, Lifecycle Management and Automation, Device and Inventory Management, Device Setup and Security, Device Offboarding, and Ordering, Shipping, and Storage.[1]
The inventory management offering stemmed from an issue Rippling faced as remote work became more prevalent. It enables businesses to automatically store, ship, and retrieve employee computers remotely so they no longer need a physical "IT closet".[26]
Finance Cloud[edit]
Rippling's Finance Cloud offers a suite of spend management products that integrate with the rest of the Rippling platform, enabling finance leaders and controllers to view and manage spend across their company on a single platform[27] including Corporate Cards and Expense Management which integrate directly with US and global payroll.[1] This platform connectivity allows for workflows such as automatically declining employees' out-of-policy purchase attempts and creating one-off corporate credit cards for employees who plan to travel on behalf of the company. The system can also automatically approve expenses based on HR data like how long the employee has worked at a company or flag the expenses of an employee that were especially high compared to their colleagues.[21]
Achievements[edit]
Rippling was named one of America's Best Startup Employers by Forbes.[28]
In May 2023, CNBC listed Rippling at #14 on its Disruptor 50 list.[29]
References[edit]
- ↑ 1.0 1.1 1.2 1.3 1.4 "Rippling Review". www.hcamag.com. Retrieved 2023-09-26.
- ↑ 2.0 2.1 Feldman, Amy. "The Comeback Of A Fallen Tech Unicorn CEO". Forbes. Retrieved 2023-09-26.
- ↑ Buhr, Josh Constine, Ryan Lawler and Sarah (2017-03-21). "The 52 startups that launched at Y Combinator W17 Demo Day 1". TechCrunch. Retrieved 2023-09-26.
- ↑ "How Rippling revolutionized HR-S1 E2-When it Clicked Podcast". clickup.com. Retrieved 2023-09-26.
- ↑ 5.0 5.1 Loizos, Connie (2021-11-11). "Here's how Rippling, fresh off its Series C round, aims to center companies around 'employee identity'". TechCrunch. Retrieved 2023-09-26.
- ↑ "Rippling hires Albert Strasheim as CTO & SVP, Engineering". Rippling. Retrieved 2023-09-26.
- ↑ "Rippling hires Adam Swiecicki as CFO". Rippling. Retrieved 2023-09-26.
- ↑ Azevedo, Mary Ann (2022-10-20). "One month after entering the spend management space, Rippling goes after global payroll". TechCrunch. Retrieved 2023-09-26.
- ↑ team, Ryan Deffenbaugh,the Fintech. "Rippling takes on Brex and Ramp in spend management - Protocol". www.protocol.com. Retrieved 2023-09-26.
- ↑ "Rippling Office, Bangalore". Love That Design. Retrieved 2023-09-26.
- ↑ "Workforce Management Platform Rippling Launches in UK to Transform Global Payroll, HR, IT, and Finance Processes - Fintech Finance". ffnews.com. Retrieved 2023-09-26.
- ↑ "HR software firm Rippling to create 100 jobs at new EU HQ in Dublin". The Irish Times. Retrieved 2023-09-26.
- ↑ "About Us". Rippling. Retrieved 2023-09-26.
- ↑ "Rippling: Magically Simplify Your HR & IT". Y Combinator. Retrieved 2023-09-27.
- ↑ Tan, Garry (2019-04-08). "Rippling Raises $45M for Employee Onboarding". Initialized Capital. Retrieved 2023-09-27.
- ↑ Lunden, Ingrid (2020-08-04). "Rippling nabs $145M at a $1.35B valuation to build out its all-in-one platform for employee data". TechCrunch. Retrieved 2023-09-27.
- ↑ Vernal, Mike (2021-10-21). "Rippling: The Rebundling of Enterprise Software". Sequoia Capital Publication. Retrieved 2023-09-27.
- ↑ "Rippling valued at over $11 bln after latest funding round". Reuters. 2022-05-11. Retrieved 2023-09-27.
- ↑ Azevedo, Mary Ann (2022-10-20). "One month after entering the spend management space, Rippling goes after global payroll". TechCrunch. Retrieved 2023-09-27.
- ↑ Loizos, Connie (2023-03-17). "A $500 million term sheet in 12 hours: How Rippling struck a deal as SVB was melting down". TechCrunch. Retrieved 2023-09-27.
- ↑ 21.0 21.1 Cai, Kenrick. "With Finance Cloud, Rippling Hopes To Become The Salesforce Of Employee Data". Forbes. Retrieved 2023-09-26.
- ↑ "Rippling: The system of record for employee data". www.kleinerperkins.com. Retrieved 2023-09-26.
- ↑ Loizos, Connie (2021-10-21). "Parker Conrad's Rippling is now valued at $6.5 billion -- more than Zenefits at its peak". TechCrunch. Retrieved 2023-09-26.
- ↑ Teng, May. "Why the leaders of an HR tech startup bet on founders recovering from past business challenges". Business Insider. Retrieved 2023-09-26.
- ↑ "Rippling Review". PCMAG. Retrieved 2023-09-26.
- ↑ Hall, Christine (September 21, 2021). "Rippling launches computer inventory management as more workers remain remote". Techcrunch.
- ↑ PYMNTS (2022-09-20). "Rippling Integrates Spend Management Products With Payroll Platform". www.pymnts.com. Retrieved 2023-09-26.
- ↑ "Rippling | Company Overview & News". Forbes. Retrieved 2023-09-27.
- ↑ staff, CNBC com (2023-05-09). "14. Rippling". CNBC. Retrieved 2023-09-27.
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