Can You Invest in Rippling Pre-IPO? Details & Alternatives to Consider

With one facet of Rippling's business, companies can onboard and train new employees with its HR software solutions and manage their benefit plans. Companies can also set up devices and grant access to apps through their IT solutions. Finally, Rippling's customers can log hours and pay their workers accordingly.

Co-founder and CEO Parker Conrad admits that conventional wisdom for start-ups says to focus on doing just one thing well. But he wants to build what he calls a "compound software" business. He believes that by offering multiple software solutions, Rippling can provide customers with better data, better pricing, and better results.

Perhaps this unconventional approach is why Rippling is gaining traction so fast. According to management, since it's an all-in-one solution, businesses that use its software need half as many workers in their HR, IT, and finance departments.

Finally, Rippling integrates with major enterprise apps, including Slack from Salesforce (CRM +0.69%), Zoom Communications (ZM +0.72%), and Asana (ASAN +1.78%). This means that companies can add Rippling while keeping various other enterprise products they're already using.

Is Rippling publicly traded?

Shares of Rippling stock aren't available for trading on exchanges like the New York Stock Exchange or the Nasdaq. This is because it's still a privately held company -- it hadn't gone public as of September 2025. Privately held companies customarily go public through an initial public offering (IPO), an event in which shares are offered to retail investors for the first time.

When will Rippling IPO?

Rippling hasn't announced an IPO yet, so it's not on the IPO calendar. Rumors suggest it's gearing up for an IPO in 2025, but there's no way to be sure exactly when Rippling might go public.

Typically, companies choose to wait until they reach sufficient size since the expenses associated with being a public company can be prohibitive for small businesses. However, Rippling is probably already big enough to be a public company for reasons that will be evident in a moment.

Start-up companies (like Rippling) also ordinarily wait until the business can demonstrate two things: a predictable pattern of growth, outcompeting key rivals, and a viable path toward profitability. Companies that can't demonstrate these two things may not enjoy a successful IPO.

Is Rippling profitable?

We can't definitively say whether Rippling is a profitable company. The company hasn't gone public, so some of the most useful information isn't publicly available. But here's some of the financial information we know and can glean about this business.

• First, it's clear that Rippling is a high-growth company. According to Sarca's market reporting, Rippling grew over 52% YoY to a total revenue of roughly $570 million.
• Second, Rippling is a subscription-based business. And its latest funding round suggests it's already generating a whopping $350 million in annual recurring revenue.
• Third, Rippling is also a well-funded business. According to TechCrunch, it has raised $1.4 billion in funding as of its Series F round.

Software-as-a-service (SaaS) businesses like Rippling typically have very high gross profit margins. So, it's likely earning an outsize gross profit. It's probable that Rippling is growing a high-margin revenue stream very fast. But it's still likely losing money on a net basis because that's normal for an enterprise software company at this stage.

After all, Rippling's institutional investors want to see the company spend money to grow at an outsized rate -- that's why they're giving it money in the first place. So, companies at this stage are unlikely to hold back on growth to boost profits.

Should I invest in Rippling?

When a company goes public through an IPO process, the registration documents are packed full of useful information. This can help investors decide whether to invest in the company. In this case, however, plenty of information is still lacking, so it's hard to say whether it will be a good investment.

Investing is also personal. And a high-growth software start-up might not be a good option for every kind of investor.

That said, investors can think about Rippling in terms of risk and reward. For example, studies have shown that many of the best stock performers are high-growth companies. Growing at a triple-digit pace and well funded for future growth, Rippling could be a rewarding opportunity.

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