Stories

The return of Parker Conrad

Yesterday's most notable venture capital deal news came from Rippling, a SaaS startup focused on employee on-boarding and off-boarding (the "ripples" of an employee lifecycle).

The hubbub wasn't over deal size (around $7m), the company's product (it's intuitive and addresses a real corporate pain point), its competitive positioning (IPO candidate Okta can't be pleased), nor even the speed with which the money was raised (two weeks).

Instead, it was that Rippling is led by Parker Conrad, the serial entrepreneur who was last seen being kicked to the curb by "unicorn" company Zenefits, over accusations that he had overseen a deliberate scheme to sidestep state insurance regulations.