Coatue Leads Rippling’s $200M Series F Financing with Participation from Greenoaks
Gunderson Dettmer represented clients Coatue, as lead investor, and Greenoaks as they participated in the up to approximately $790 million Series F and Common Stock financing of Rippling, a workforce management platform. Rippling raised its last financing in 2023, which was led by Greenoaks, and will use the new capital to expand into new markets and invest deeply in R&D. The company is now valued at $13.5 billion.
Designed to eliminate the administrative work of running a company, Rippling’s platform helps manage and automate employee business systems, including onboarding, offboarding, payroll, benefits, computers and corporate cards, in a single integrated system.
In the announcement of the transaction, Rippling CEO Parker Conrad said, “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 solves this problem by giving companies and employees a single place to make changes, which then propagate everywhere automatically.”
Gunderson Dettmer’s Coatue deal team was led by Greg Volkmar and Jeff Stricker and included Shu Hu, Federico Varni and Phoebe Hung.
Gunderson Dettmer’s Greenoaks deal team was led by Steve Baglio and Hilary Adams.