Despite the sudden closure of its banking partner, Silicon Valley Bank, Rippling was able to swiftly take action and seek out new sources of funding. In less than three days, the company secured a $500 million series E funding round, proactively avoiding any disruptions to its customers’ employees’ pay. The round valued the firm at $11.25 billion. Despite the difficulty of the situation, Rippling was able to act quickly and ensure employees were paid on time.