Payroll management company Rippling scores $145m in its Series B

Rippling, a management dashboard for HR and payroll, has collected a sizeable $145m in its Series B round, which was led by Founders Fund.

Other contributors to the round include Greenoaks Capital, Coatue Management, and Bedrock Capital, as well as previous Rippling backers Kleiner Perkins, Initialized Capital and Y Combinator.

Rippling offers an dashboard to help companies manage their employee data and operations. Its core solutions include payroll, app management, device management and employee benefits.

The technology can sync all of a company’s HR data with payroll to ensure paying employees is streamlines. Compliance and tax filings are automated, hours can be tracked, reports can be customised and people can be paid around the world.

As for employee benefits, users can manage their staff’s health insurance, 401(k), dental, vision medical policies. It also allows companies to find more benefits and compare them with others on the market.

The FinTech came out of stealth mode in 2018 and has since grown its team to 250 employees and attracted thousands of customers, it claims.

A number of payroll FinTech platforms have attracted capital investment this year. Earlier in the month, Worky secured a $3m seed round to support the enhancement of its payroll technology and to scale its operations.

Copyright © 2020 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.