Rippling, a HR software firm, has raised $250m in Series D funding in a round co-led by Bedrock and Kleiner Perkins.
The round also saw participation from existing investors , Y Combinator, Sequoia Capital, and more. The round values the company at $11.25bn.
Rippling’s core thesis is that employee data is critical to a surprisingly large number of business systems, including the ones well outside of HR.
According to Rippling, maintaining the fidelity of the same employee data across all these disconnected systems effectively, across multiple separate databases, is the reason it’s a lot of work for companies to have many different business systems in the first place.
Rippling said it solves this problem by giving companies and employees a single place to make changes, which then propagate everywhere automatically.
“The system that does this isn’t just a time-saver—we believe it will be a critical primitive for business software going forward,” said Parker Conrad, Rippling co-founder, in a statement on the company’s website.
He added, “Products built on top of a rich graph of data about the organisation, employees, and their apps and devices aren’t just easier to manage. They are better as software products—with more intelligent workflows and approvals, better role-based policies and permissions, and more powerful analytics.”
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