We’re excited to announce that Rippling has raised $250M led by Sequoia Capital Global Equities and Global Growth, with participation from Greenoaks and other existing investors.

I’m grateful for these investors’ conviction in Rippling, for the employees that have gotten us to this point, and for our clients, without whom none of this would be possible.

This round of financing values the company at $6.5 Billion.

Fundraising is of course a means to an end, but it’s also a gratifying signal that we’re on the right track. If you’re curious why Sequoia decided to invest in Rippling, I encourage you to check out Sequoia Partner Mike Vernal’s blog post about the investment.

Rippling’s core thesis is that employee data is critical to a surprisingly large number of business systems, including the ones well outside of HR.

Maintaining the fidelity of the same employee data across all these disconnected systems—effectively, across multiple separate databases—is the reason it’s a lot of work for companies to have many different business systems in the first place.

Rippling solves this problem by giving companies and employees a single place to make changes, which then propagate everywhere automatically.

The system that does this isn’t just a time-saver—we believe it will be a critical primitive for business software going forward.

Products built on top of a rich graph of data about the organization, employees, and their devices and apps aren’t just easier to manage. They are better as software products—with more intelligent workflows and approvals, better role-based policies and permissions, and more powerful analytics.

We are, of course, hiring across all roles.