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Workforce management startup Rippling has secured $200 million in Series F funding led by Coatue Management, with participation from Peter Thiel’s Founders Fund, Dragoneer Investment Group, Greenoaks Capital, and other existing investors.

With the fresh capital, Rippling’s valuation has climbed to $13.5 billion.

The startup has signed agreements with investors to offer liquidity to current and former employees, along with seed investors through a tender offer, according to a statement by the company.

The Bengaluru- and San Francisco-based startup has announced a total tender of $590 million, allowing current and former employees to sell up to $200 million collectively, while seed investors can sell up to $390 million. This represents one of India’s largest tender offers ever, according to the Indian Startup ESOP report.

The startup has over 2,500 employees globally, and over 500 team members in India. Rippling’s operations in India span sales and operations, with a strong focus on research and development. The company is also actively broadening its footprint and recruitment initiatives in the region.

Founded in 2016 by Parker Conrad Prasanna Sankar, Rippling offers businesses a unified platform to manage HR, IT, and finance operations. By combining workforce systems such as payroll, expenses, benefits, and device management, the HRtech startup enables organisations to streamline and automate every task within a single system. 

For example, businesses can onboard a new employee from anywhere globally and configure their payroll, corporate card, computer, benefits, and even integrate third-party apps like Slack and Microsoft 365 within a 90-second timeframe.

Rippling has secured $1.2 billion in funding from investors worldwide, including Kleiner Perkins, Founders Fund, Sequoia Capital, Greenoaks, and Bedrock Capital. Currently, the platform serves clients across more than 150 countries.