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Unpacking Rippling vs Deel: corporate espionage and a $16.8B plot twist

From TechCrunch

By Theresa Loconsolo, Mary Ann Azevedo, Charles Rollet

May 14, 2025

Unpacking Rippling vs Deel: corporate espionage and a $16.8B plot twist

Unpacking Rippling vs Deel: corporate espionage and a $16.8B plot twist
Listen o Apple Podcasts Listen o Spotify

Despite courtroom chaos, Rippling is still going full steam ahead. The HR tech startup at the center of an increasingly dramatic legal battle with rival Deel just raised a fresh $450 millio in funding at a $16.8 billion valuation, and launched a new “Startup Stack” to woo early-stage companies — winning over Y Combinator as both an investor and a client.

The funding comes amid the company’s high-profile legal fight with Deel, which Rippling accuses of movie-worthy corporate espionage, complete with secret crypto payments and decoy Slack channels. Deel has denied the claims and filed its own lawsuit, calling Rippling’s accusations a “distraction.”

Today o Equity, Mary Ann Azevedo and Charles Rollet are digging into the HR tech showdown, from legal drama to IPO implications and global intrigue.

Listen to the full episode to hear more about:

  • The alleged spy, Rippling’s evidence, and Deel’s denials
  • YC’s involvement in Rippling’s latest project, and why the move is raising eyebrows
  • The potential impact on IPOs for both companies 

Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. 

Subscribe to us o Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity o X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here.

View original article on techcrunch.com

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