People Center, Inc. (DBA: Rippling) has seen its share price climb in the secondary markets in the past few months. The company most recently raised a $200M Series in F in April, which valued it at nearly $12 billion.
Rippling is an all-in-one HR, IT, and finance platform that helps businesses manage employee data, payroll, benefits, device management, and more in one centralized system. It automates workflows across departments, streamlining operations and reducing administrative overhead for businesses of all sizes.
In December 2023, the company traded at as low as $28 per share. This price began to climb leading up to the April fundraising, which had a preferred price per share of $44.00. Since then, the company has repurchased shares through a Right of First Refusal (ROFR) at prices as high as $46.50. On Monday, September 9, two transactions closed at $48.50 and $49.50, with the latter valuing the company at $13.4 billion.
These recent trades make Rippling potentially the fifth largest component in the index and reflect the broader trend of recovery, especially in the secondary markets, as covered in our post earlier this week.
