On Tuesday, The Wall Street Journal reported that they know about the post-Zenefits plans of controversial tech founder Parker Conrad. Investors familiar with the issue told The Wall Street Journal that Conrad, the former chief executive officer of Zenefits, raised $7 million for his new staffing start-up “Rippling.”
Founders and Ex CEO of Zenefits starts new company ‘Rippling’
Conrad, according to CNBC, is most popular for his leadership of human resources start-up Zenefits. The company Zenefits endured a scandal under his leadership. Last year, the CEO resigned from his post after regulators accused the company of allowing unlicensed brokers to sell insurance.
Rippling, the new startup by Conrad, is assisting other startups with staff onboarding, providing new employees with offer letters, tax forms, keycard access, laptops, and email accounts, according to the Wall Street Journal. The Journal asked Conrad many questions. The basic service cost of Rippling is $8 per employee a month. Conrad told the Journal that the new startup will benefit from lessons that he learned at his former company and Rippling will have proper management oversight.
On Tuesday, the ex- chief executive of human resources software firm Zenefits, made Rippling that will compete with his former company. This startup will be the comeback of Parker Conrad in the tech industry. Rippling offers services to aid businesses in automating the employee hiring and firing processes.
Services Rippling offers
According to the website of the firm, its services include generating new employee severance agreements and offer letters, setting up email accounts, processing payroll, shipping preconfigured computers with antivirus software and providing keycards to an office building, and more. Conrad, who started Zenefits in 2013, left the firm last year because of state insurance regulations.
In an interview, Conrad said that he wants “Rippling to be the system of record for employee information. He said, “I feel like I still have a contribution to make.” David Sacks, the ex-chief operating officer of the company replaced the Conrad at Zenefits last year. Currently, the startup Rippling has around 15 employees, according to Conrad.
Conrad said, “At Zenefits, it seemed like I always realized what we needed after we needed it.” He said that this time he feels like he can see around the corner a little bit and be prepared in advance. The startup has raised money from investors like angel investor and former Y Combinator partner Justin Kan, and Ben Ling, a partner at Khosla Ventures.