Conrad’s Rippling Fortune Crosses $2 Billion With New Funding

Rippling, a human resources and payroll startup, has raised $450 million at a valuation of $16.8 billion — a deal that brings the value of the stake of its leader, Parker Conrad, to about $2.3 billion, according to the Bloomberg Billionaires Index.

The new funding, which Bloomberg previously reported, was officially announced on Friday. Conrad, who co-founded Rippling in 2016, owns about 14% of the company, according to Bloomberg calculations based on a government filing. Rippling declined to comment on Conrad’s stake or net worth.

The round solidifies a Silicon Valley comeback story for Conrad, who was pressured to resign ...