17 April 2024 – According to two individuals familiar with the proposal, Rippling would get $200 million from the company’s recently announced funding round, which still needs to be completed, plus an additional $670 million from the sale of shares by current investors.
This will be Rippling’s Series F, and it has the potential to increase its post-money value to $13.4 billion from its previous valuation of $11.25 billion, which was attained only a year ago when it received funds in a $500 million Series E. Prior to this round, Rippling had raised $1.2 billion in total.
When contacted earlier today, a representative for Rippling refused to comment. When Rippling’s finances were unexpectedly blocked during the Silicon Valley Bank crisis, the company’s last round came together. In order to raise the money required to pay everyone’s salaries, Parker Conrad, the founder and CEO of Rippling, called his banks, investors, and customers.
Conclusion
According to two people familiar with the deal, current Founders Fund investor Napoleon Ta is willing to contribute up to an additional $310 million in this round. Notably, Founders Fund would be writing the biggest check it has ever issued for a single company’s funding round.
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