March has been a busy month for startups looking to secure funding. In fact, according to recent reports, March saw some of the largest funding rounds in history. Among the top 10 funding rounds, two companies stood out – Stripe and Rippling.
Stripe, a payment processing platform, secured a whopping $6.5 billion in funding, making it one of the largest funding rounds in history. The funding was led by Sequoia Capital, a well-known venture capital firm that has invested in some of the biggest names in tech, including Apple, Google, and Airbnb. Other investors included General Catalyst, Andreessen Horowitz, and Silver Lake.
The funding will be used to help Stripe expand its global reach and develop new products and services. Stripe has already established itself as a leader in the payment processing space, with clients including Amazon, Lyft, and Shopify. With this new funding, the company is poised to continue its growth and cement its position as a dominant player in the industry.
Another company that secured significant funding in March was Rippling, an HR-tech startup that raised $500 million in a funding round led by Founders Fund. The company offers a platform that helps businesses manage their HR needs, including payroll, benefits, and employee onboarding.
Rippling has seen significant growth over the past year, with its customer base growing by more than 10 times. The company plans to use the funding to continue its expansion and develop new products and services.
The HR-tech industry has seen significant growth over the past year, as businesses have had to adapt to remote work and new ways of managing their employees. Rippling is well-positioned to capitalize on this trend and become a leader in the space.
Other companies that secured significant funding in March include Databricks, a data analytics platform that raised $1 billion, and Hopin, a virtual events platform that raised $400 million.
Overall, March was a strong month for startups looking to secure funding. With the global economy beginning to recover from the pandemic, investors are once again looking to invest in promising companies with strong growth potential. Companies like Stripe and Rippling are well-positioned to take advantage of this trend and continue their growth in the coming months and years.
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- Source: Plato Data Intelligence: PlatoData