23rd April 2024 – In its most recent fundraising round, HR software firm Rippling raised $200 million, valuing the company at $13.5 billion, it said on Monday. Coatue, a digital investment company, led the round, including participation from Greenoaks, Peter Thiel’s Founders Fund, and other current investors.
According to Rippling, Dragoneer became a new investor in the round. Under the leadership of businessman Parker Conrad, Rippling provides a workforce management platform that integrates finance, IT, and human resources. It assists major corporations, including Apple, Amazon, and Salesforce, in managing their operations.
The corporation is headquartered in San Francisco, California, and has operations in Australia, Ireland, the UK, and India. It intends to increase its market share, make investments in R&D, and create new products to serve customers better.
Conclusion
Following a more than year-long dry spell, the IT industry is seeing a surge in capital raisings thanks in part to growing expectations of interest rate decreases and the development of artificial intelligence (AI). Additionally, the industry jumped more than 42% year over year to around $154 billion, making up the greatest percentage of mergers and acquisitions during the first quarter, according to Dealogic.
Source:Link
