Rippling, a Workforce Management Startup, recently closed a funding of $250 million in funding led by Sequoia Capital according to 450mloizostechcrunch. The Francisco-based startup has doubled its valuation since October last year and is now worth $11.25 billion. The company is officially named People Center Inc and offers a cloud-based platform for the Human Resource team to carry out tasks like Payroll management and handling health insurance and other benefits. The all-in-one platform makes the work of the entire team easier and improves productivity.
Aimed at taking the productivity of the organization up a notch, Rippling provides an automation engine that reduces manual work. The tool can streamline repetitive tasks such as employee onboarding making sure that HR doesn’t have to do the same work again and again. The company has even tapped the addressable market by extending its platform to several adjacent segments. In recent years, the tool has been upgraded to provide an analytical solution to help the HR team streamline their recruitment work. Furthermore, the learning management module offered by Rippling can make employee training initiatives a cakewalk.
Not just this, the startup even provides a set of capabilities for the Information Technology departments. With this system, the IT department can set up new work devices and even download operating system updates. As argued by Rippling, managing both HR and IT tasks via a single platform makes data management simpler. Moreover, maintaining the fidelity of employees is easier when the data is managed through a single platform instead when it is managed across multiple separate databases.
As reported by Forbes, Rippling generates more than $100 million in annual revenue. Last year, the startup doubled its number of customers and its annual recurring revenue jumped 270%. The company plans on continuing the momentum by rolling out seven new products in the coming years.