HR tech firm Rippling raises new funding at $16.8 billion valuation, no IPO plans

(Reuters) -HR software startup Rippling said on Friday it raised $450 million in a Series G funding round, valuing the company at $16.8 billion, as it expands its workforce management products and focuses on growing revenue globally over profitability. Rippling's CEO Praker Conrad said the tender offer is likely to be an annual event, joining a growing list of high-profile private companies that don't want to go public yet but still want to offer ways for employees and early investors to cash out. This round, which values the company higher than its previous valuation of $13.5 billion in early 2024, faced an unexpected challenge due to its timing, as it was launched weeks before President Trump's tariff announcement, which has caused major volatility in the stock market.