Photo: Rippling
Rippling, a San Francisco-based employee management solutions company, announced it raised $45 million in funding led by Mamoon Hamid of Kleiner Perkins. This funding round was raised at a reported $270 million valuation, according to TechCrunch.
Existing investors Initialized Capital, Threshold Ventures (formerly DFJ Venture), Y Combinator, and several others also participated in this round. Hamid is joining Kleiner Perkins partner Ilya Fushman on Rippling’s board of directors in conjunction with this funding round.
Founded by Parker Conrad (CEO) and Prasanna Sankar (CTO), Rippling is aiming to solve the administrative pains in dealing with disconnected business systems and the grind of managing information about employees in hundreds of places. Prior to launching Rippling, Conrad was the co-founder of Zenefits, SigFig, and Wikinvest. And Sankar was the Director of Engineering at Zenefits, the co-founder and CTO of Likealittle, and a software developer for Microsoft’s Bing search engine.
“Most people think of employee data as an HR problem — but we’ve found that information about employees is scattered across almost all of a company’s departments and systems. On the most basic level, each of these systems needs to maintain employees’ login credentials to authenticate their access; many systems well outside of HR also need to know an employee’s department, role, manager, or level within the organization,” wrote Conrad in a company blog post. “Rippling is the first employee system that works across the entire company — not just HR. We call this an Employee Management System to distinguish it from traditional payroll and HRIS, because Rippling integrates broadly across the entire company to automate wide swaths of administrative work.”
This will save IT departments a tremendous amount of time since a great deal of the daily administrative work is associated with employee data and controlling access — who should have access to what systems and software within the company. Rippling is able to free up time for businesses by eliminating the administrative work for onboarding, offboarding, and managing employees.
So when you hire someone on Rippling, the platform can take care of payroll, benefits, and new-hire paperwork in seconds. Plus Rippling can also send them a preconfigured computer, set up keycard access, and create their user account in all of the cloud apps that a company uses. Rippling can be integrated with over 500 different apps including Salesforce and AWS.
