## Rippling

Workforce management software unifying HR, IT, and contractor payroll for global teams

### Revenue
**$1.00B**

### Funding
**$956.34M**

### Details
**Headquarters**: San Francisco, United States  
**CEO**: Parker Conrad  
**Website**: [rippling.com](https://www.rippling.com/)  
  
### Milestones
**FOUNDING YEAR**: 2016

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## Revenue

Annualized Revenue & Growth

**$1.0B**

**↑ 78.0% YoY**

**Updated**: May 10, 2026

### Unlock Rippling data

Annualized Revenue Metrics

- Annualized Revenue ($M)
- Annualized Revenue Growth (%)
- Issue Price ($)
- Amount Raised ($)
- Price per Share ($)

Rippling serves over 20,000 customers as of May 2025, with its PEO business maintaining a 99.5% year-over-year client retention rate as of fall 2024. The company has built 10+ product lines each generating over $1 million in ARR, with new products typically reaching this milestone within 5 to 6 months of launch.

### Revenue Metrics

| Time  | Metric            | Measurement          | Type       |
|-------|-------------------|----------------------|------------|
| 2025  | Revenue growth    | >30% YoY             | historical  |
| May 2025 | Annualized revenue | —                | historical  |
| 2024  | ARR               | —                    | projection  |
| 2024  | Revenue growth    | —                    | historical  |
| 2023  | ARR               | —                    | historical  |
| May 2022 | ARR growth      | —                    | historical  |  
| 2021  | ARR growth       | —                    | historical  |
| May 2020 | ARR            | —                    | historical  |
| 2019  | Revenue          | —                    | historical  |

## Valuation & Funding

**Valuation**: $16.8B

**Total Raised**: $1.85 billion across multiple funding rounds.

| Date       | Event       | Valuation | Amount       | Price    | Status   |
|------------|-------------|-----------|--------------|----------|----------|
| May 2025  | Tender Offer| $16.8B    | $200.0M      | $52.00   | Announced|
| May 2025  | Series G    | —         | —            | —        | Announced|
| Apr 2024  | Tender Offer| —         | —            | —        | Announced|
| Apr 2024  | Series F    | —         | —            | —        | Closed  |
| Mar 2023  | Series E    | —         | —            | —        | Closed  |
| May 2022  | Series D    | —         | —            | —        | Closed  |
| Oct 2021  | Series C    | —         | —            | —        | Closed  |
| Aug 2020  | Series B    | —         | —            | —        | Closed  |
| Apr 2019  | Series A    | —         | —            | —        | Closed  |
| Mar 2017  | Seed        | —         | —            | —        | Closed  |

## Product

Rippling operates as a unified operating system for workforce management, structured around the Employee Graph, a single, continuously updated employee record that integrates data across HR, IT, and finance modules.

The platform automates workflows that typically require multiple systems. For new employees, Rippling can send offer letters, enroll them in benefits, provision software accounts, order hardware, set up payroll, and issue corporate cards—all triggered by a single action.

### Business Model

Rippling operates a B2B SaaS model with subscription pricing determined by employee count and the modules utilized. The company charges a per-employee, per-month fee for each module. Revenue is also derived from transactional services, including currency exchange fees, interchange revenue from corporate cards, and premium offerings such as device warehousing and shipping.

## Competition
### Vertically Integrated Global Players
[Deel](/content/c/deel/index.html) specializes in global payroll and Employer of Record services. Both companies engage in litigation arising from corporate espionage claims.

### Legacy Enterprise Incumbents
ADP and Workday leverage decades-old systems, facing challenges transitioning to modern tech stacks.

### SMB-focused Suites
Providers like [Gusto](/content/c/gusto/index.html), BambooHR, and Paylocity target small and medium businesses.

## Risks
- **Competitive and Legal Exposure**: The market is highly competitive, with several well-capitalized players.
- **Regulatory Complexity**: Managing payroll and EOR services across multiple countries presents challenges.

## News
### Runlayer Sues Rippling for Trade Secret Misappropriation
Runlayer's lawsuit against Rippling highlights concerns over intellectual property as Rippling prepares to launch a competing AI product.

### Rippling Faces Lawsuit for Allegedly Cloning Runlayer's AI Platform
Runlayer accuses Rippling of misappropriating trade secrets during a collaboration.