Rippling, a workforce management startup secures $200million in new funding. Additionally, the business inked contracts with investors to buy back up to $590 million in equity from present and past workers as well as early backers.

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Coatue spearheaded the funding, with support from Founders Fund, Greenoaks, and other current investors. Dragoneer is a new investor in the round.

The corporation is valued at $13.5 billion after the funding. In order to improve its present offering and develop new goods to better serve customers, the firm will keep growing into new areas and investing in R&D.

With the help of a labour management system called Rippling, businesses can automate anything from cross-functional planning—such as coordinating on headcount—to regular operations like processing payroll.

About Rippling

A workforce administration platform called Rippling makes corporate operations less complicated. Most businesses nowadays struggle with anything from cross-functional planning—like coordinating on headcount—to mundane chores like processing payroll. This is due to the fact that all of their information on individuals, procedures, and systems is dispersed over a hundred locations.