Employee management platform Rippling raised $145M in a financing round on Tuesday. The Series B was led by Founders Fund and brings the San Francisco-based company’s total valuation to $1.35 billion.
The Rippling platform provides employers with one central place to manage operations tasks, from completing tax forms to onboarding new employees. According to the company, Rippling’s full suite of document and task management tools allows employers to onboard new hires in just under two minutes.
The company will use the additional financing to double down on product research and development, and hire new talent. Rippling is looking to fill multiple roles in design, engineering, marketing and product management.
“We know there’s never been a more difficult time to run a business. Overnight, companies have had to adapt to a fully remote world,” Parker Conrad, CEO of Rippling, said in a statement. “It’s an unprecedented problem that Rippling is uniquely capable of solving, and one of the reasons why we’ve experienced significant growth over the past several months.”
Rippling’s platform integrates with over 400 apps, including Slack and Brex, and allows companies to automatically set up new hires on every workflow app that they need, based on their role or department. Employers can also use Rippling to buy, set up and ship electronic devices to new hires who are working remotely.
“We like to think of ourselves as a Salesforce for employee data,” Conrad said in an interview with TechCrunch. “[W]e think that employee data is more than just HR. We want to manage access to all of your third-party business apps, your computer and other devices. It’s when you combine all that that you can manage employees well.”
Additional investors in this funding round included Greenoaks Capital, Coatue Management, and Bedrock Capital.
