糖心视频

HR tech startup raised $250 million, bringing its valuation to more than $11 billion, the company announced Wednesday.

Rippling automates management of employee systems鈥攆rom payroll, benefits and what apps they have access to鈥攁ll from one place. The company was founded by , the former CEO of .

and co-led the Series D. The round also included participation from existing investors聽 and per a from Conrad. The Series D brings Rippling’s total funding to about $700 million, and significantly increases its valuation. The company was last valued at around $6.5 billion after its $250 million Series C in October.

“Rippling鈥檚 core thesis is that employee data is critical to a surprisingly large number of business systems, including the ones well outside of HR,” Conrad wrote in the blog post. “Maintaining the fidelity of the same employee data across all these disconnected systems鈥攅ffectively, across multiple separate databases鈥攊s the reason it鈥檚 a lot of work for companies to have many different business systems in the first place.”

The company’s annual recurring revenue is above $100 million, and it expects to roll out seven new products over the next year,

San Francisco-based Rippling, which was founded in 2016, is backed by investors including and

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