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HRtech Startup Rippling Seeks Funding Boost

  • Rippling seeks $200 million in Series F funding round.
  • Coatue and Greenoaks lead the funding round.
  • Rippling expands with a 123,000 square feet San Francisco headquarters.

Rippling, a late-stage human resources tech startup, is currently in the process of raising more funding. The company expects to close the Series F round of funding, which would be a $200 million injection into the company, with the current stockholders selling off $670 million worth of shares. 

The current financing may increase the company's valuation by 20%, up from $11.25 billion in the previous round. As reported by Nathaniel Ta from Founders Fund, the investment could go up to $310 million, which would be the most significant investment the fund has ever made in a single company. 

Coatue is in charge, joined by Greenoaks. The HRtech market is ruthless, with other rival start-ups like Gusto and Deel also growing at a rapid rate. On the other hand, new companies include Remofirst, which has just raised $25 million to compete further with the companies that provide the same product but are more affordable.

While Rippling is actively increasing the number of business locations. The San Francisco Chronicle reported on the company, which is six years old and has just secured a 123,000 square feet San Francisco headquarters lease. 

Edited by Shruti Thapa