Big Bucks Alert: Rippling Sweeps $13.4 Billion with Series F

High Stakes and Big Bucks at Rippling Incorporated

It appears that Rippling has found itself submerged in a waterfall of money! The tech company is reportedly gathering heaps of new capital, with insiders whispering about a cool $200 million injection into the company's veins. That's right folks, $200 million in fresh, crisp dollar bills (virtually, of course).

Not just that. Existing stockholders are also contemplating dusting off their shares with an eye-popping $670 million trade-off, insiders say. This keeps getting juicer, doesn’t it?

Raising the Financial Bar, One Series at a Time

This time around, it's "Series F" in the fundraising alphabet, and it seems like Rippling has its eyes on the prize, and that is raising its valuation to potentially a whopping $13.4 billion! Yes, BILLION! You might remember, during the last round of capital raising, Rippling managed to stack up an impressive $500 million in the Series E, boosting its value to $11.25 billion

Man, these numbers are starting to sound like my grandma's age. Nevertheless, they've stumbled upon $1.2 billion in total before this round. And believe it or not, Rippling is still zipped about the situation. A query was made, but they chose to remain silent.

Crisis Management, Silicon Valley Bank Style

Last we heard, Rippling was swaying in stormy waters during the Silicon Valley Bank crisis when all its funds hit a big ol' iceberg and froze. All hands were on deck, even the CEO, Parker Conrad. He sweated it out on social media and phone calls, striking deals with banks, investors, and even customers just to raise enough cash to pay off everyone's salaries. Now, that's a captain who won't abandon his ship!

Heavy-hitting Investors Jumping into the fray

Already a previous investor in Rippling, Napoleon Ta at Founders Fund is eyeing another $310 million to dish out, and that's according to those chatty insiders again. Could it be the biggest check Founders Fund has ever penned? There's a thrilling question! How much of this stash will belong to new Series F shares and how much will buy other shares is somewhat hazy.

And who do we find at the helm of this round? It's Coatue, another past investor, leading the way. Oh, and let's not forget about Greenoaks. They're in for another round too.

A Splash in the HR Tech Pond

It seems like Rippling's paddling in a profitable pool. The HR tech market has seen an explosion of growth recently, with a plethora of well-funded late-stage startups sprinting alongside Rippling. Some have even tattled about reaching $500 million in trailing revenue. Not to forget another whisper about an annual recurring revenue of a similar amount.

Spawn or be spawned, the HR techscape is birthing new companies aiming for innovative hiring solutions, ready to give the old dogs a run for their money. Venture capital, founder and employee equity in HR tech stocks are soaring high.

And what about the IPO market slumbering away? In comes the lure of large secondary transactions for many stakeholders craving that liquid lucre. Bottom line, it's a financial playground like never before.

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