Inside Rippling: From 2016 to Now Into a $700 million business
Founders: Parker Conrad
Founded Year: 2016
Investors: Kleiner Perkins, Founders Fund, Bedrock Capital
Funding Raised: $700 million
What Is the business model of Rippling?
All-in-one HR, IT, and finance platform for businesses that consolidates payroll, benefits, device management, and SaaS management in one system, typically sold per employee per month
How Rippling got started?
Conrad started Rippling in 2016 after his ouster from Zenefits, aiming to build a broader platform that not only managed HR tasks but also automatically configured employees’ IT accounts and devices when they join or leave a company
what growth strategy has Rippling followed?
Differentiated itself by the deep coupling of HR data with IT management — an employee onboarded in Rippling can get all accounts and equipment set up automatically, this unique angle and Conrad’s track record in HR tech attracted substantial funding and mid-market clients, fueling rapid growth and a valuation over $10B by 2022
what are the top products/features of Rippling
Rippling Unity platform, Payroll & Benefits administration, Device management, App provisioning and directory
what was the biggest challenge faced by Rippling?
Overcoming the shadow of Conrad’s controversial exit from his last company while convincing customers to entrust many core business operations to a single platform, and integrating a vast array of third-party systems smoothly to fulfill the “one-stop” promise