After SVB froze its deposits, HR software startup Rippling raised a $500M Series E at an $11.25B valuation, same as Series D, taking its total funding to $1.2B
As a serial entrepreneur who has famously endured some ups and downs, Parker Conrad has nearly seen it all. Or so he might have thought until last week.
TechCrunch Connie Loizos
Related Coverage
- HR Startup Rippling Raises $500 Million In Fresh Funding After SVB Collapse International Business Times
- Rippling raises $500M in Series E financing Rippling · Parker Conrad
- Rippling Raises $500 million to Ease SVB-Linked Payroll Crunch The Information
- Workforce management startup Rippling raises $500M SiliconANGLE · Maria Deutscher
- Startup Rippling Raises $500 Million in Funds After SVB Fails Bloomberg · Katie Roof
- Massive massive respect to Parker. What an elite leader. — I'm super impressed with the consistent right decisions he made amidst the fiasco. … Guru Prasanna
- Awesome leadership by Parker Conrad of Rippling through the SVB crisis to ensure that our customers' employees got paid on time, and that Rippling would emerge stronger than ever. Adam Swiecicki
- Exciting news at Rippling today- we just raised our Series E! — I am actively hiring for Senior, Staff and management roles on the product #engineering team … Kendall Kucera
- $130M fronted to ensure our clients paid their employees on time. Shifted to entirely new bank and infrastructure over a weekend to respond >>> … Julia Aybin
- A very exciting day for Rippling! I feel so lucky to get to work with such an amazing group of people. Jon Finch
- What a wild weekend! Incredible effort (and using Rippling money - $130M) to make sure over 50,000 customer employees got paid. … Adi Asali
- Proud of what we are building and this shows just that. 🚀 1.2 Billion in total funding is one thing, securing 500M in less than 12 hours is another — Rippling Alex Bristol
Discussion
-
@adamnash
Adam Nash
on x
This is an amazing story. Hat tip to @parkerconrad & @rippling on the speed, communication, and execution. https://techcrunch.com/...
-
@kimmytaylor
Kim Taylor
on x
This is really impressive. Proud Rippling customer. A+ crisis management. I appreciate the comms they gave to their customers throughout the process. We never used SVB but many startups like us were affected because our vendors used them. https://techcrunch.com/...
-
@stanine
Matt MacInnis
on x
Our customers' employees were getting paid. No. matter. what. https://techcrunch.com/...
-
@everettrandle
Everett Randle
on x
The strongest attestation of Rippling being an n-of-1 company to-date. The circumstances they faced would've been insurmountable to many, but this team moved mountains to do right by their customers and is now a stronger business with a LOT more capital. https://techcrunch.com/..…
-
@mvernal
Mike Vernal
on x
One of the most badass things I have witnessed is the Rippling team rallying to navigate the SVB crises a week ago. First, the team completed a heroic transition from SVB to JPMC for funds flow in less than 24 hours. 1/ https://techcrunch.com/...
-
@nwilliams030
Nicole Ruiz
on x
“in the span of 12 hours, Rippling would be able to secure $500 million in fresh funding to protect his company in the event that the markets spiraled even more out of control.” Incredible testament to Rippling & some of the incredible power+speed that still exists in US tech htt…
-
@mister_whistler
Mahesh
on x
This is probably the biggest fundraise in a 12 hour window. And all this to do right by our customers! Insanely proud of my @Rippling team. You gotta hear the inside stories of the battle scars from the last week. Come join us! https://techcrunch.com/...
-
@iankar_
Ian Kar
on x
.@parkerconrad is an absolute legend...getting a $500m term sheet in 12 hrs and signing by the end of the weekend, all to help customers make payroll https://techcrunch.com/...
-
@kateclarktweets
Kate Clark
on x
Rippling raised $500 million at a $11.2 billion valuation, same as its last round, on Friday to help cover customer payroll. https://techcrunch.com/...
-
@alex
@alex
on x
rapid response is good but why did rippling not have redundancy https://twitter.com/...
-
@mamoonha
Mamoon Hamid
on x
Very few companies can raise $500m over a weekend, let alone during a banking collapse. @ParkerConrad and the @Rippling team did just that, to first and foremost take care of the 400,000 employees that we needed to take care of payroll for (since our https://techcrunch.com/......…