Rippling valued at $16.8 billion as HR software startup raises $450 million, says IPO not imminent

From left, Parker Conrad, co-founder and CEO of Rippling, and Kleiner Perkins investor Ilya Fushman speak at the venture firm's Fellows Founders Summit in San Francisco in September 2022. Human resources software startup Rippling said Friday that its valuation has swelled to $16.8 billion in its latest fundraising round. The company raised $450 million in the round, and has committed to buying an additional $200 million worth of shares from current and previous employees. The company's valuation is up from $13.5 billion in a round a year ago. Rippling said there was no lead investor. Baillie Gifford, Elad Gil, Goldman Sachs Growth and others participated in the round, according to a statement from the San Francisco-based company. With the tech IPO market mostly dormant over the past three-plus years, and President Donald Trump's new tariffs on imports leading several companies to delay planned offerings, the most high-profile late-stage tech startups continue to tap private markets ... Read full article.