Rippling’s advantage is that it not only automates payroll, but it also automatically manages software tools, apps and work groups that new employees need — and it keeps all of those updated as employees get promoted, change groups or leave. This kind of administrative work isn’t the sexiest business, but it can save small and midsize companies countless hours of their executives’ time and the headache and cost that goes along with that.
This spring, Rippling — founded by Conrad and Prasanna Sankar, Zenefits’ former director of engineering — made the cut for Forbes Next Billion-Dollar Startups, our list of 25 companies we think most likely to reach the $1 billion mark. Conrad is perhaps the only founder to have made that list twice, having made the first list for Zenefits.
Zenefits was one of the first Silicon Valley highfliers to fall. At its peak, under Conrad, it reached a valuation of $4.5 billion. Then everything unraveled as the company’s growth stalled amid compliance problems that included brokers selling health insurance in states where they weren’t licensed to do so. In February 2016, Conrad resigned under pressure, and hunkered down at home, as the Securities and Exchange Commission and state insurance regulators opened investigations.
“I’ve had some really big successes and some really deep and profound failures, and that cycle has repeated itself a lot in my life,” he toldFor more on Parker Conrad and his attempts at redemption with Rippling, read our feature,
amyfeldman Taking the “human” right out of HR
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