Ripple valued at over $11 billion after last funding round

May 11 (Reuters) – HR software company Rippling said on Wednesday it was valued at $11.25 billion after a $250 million funding round led by venture capital firms Bedrock and Kleiner Perkins.

The San Francisco-based company offers services for businesses to manage their human resources and information technology operations, such as employee onboarding and payroll management.

Rippling was founded in 2016, according to its LinkedIn profile, and came out of “stealth mode” in 2017. It was co-founded by Silicon Valley entrepreneur Parker Conrad, who was previously chief executive of HR software company Zenefits , a role he left. the same year, Rippling was founded.

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Existing investors, including leading Silicon Valley incubator and startup fund Y Combinator and venture capital giant Sequoia Capital, also participated in Rippling’s latest Series D round, the company said.

More startups have turned to venture capital in recent months, instead of accessing public stock markets which are under pressure from the Ukraine conflict and aggressive central bank moves to rein in stubbornly high inflation.

In the first quarter of this year, nearly 4,822 venture capital deals were closed in the United States, marking the most deals closed in a quarter on record, according to data from Pitchbook.

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Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri

Our standards: The Thomson Reuters Trust Principles.

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