Tech firm snags 9-floor office in downtown SF, plans hiring spree
Tech firm Rippling, which launched in San Francisco in 2016, just acquired a new office space downtown as it plans to hire hundreds of new workers. San Francisco-based tech startup Rippling has signed a nine-floor lease at 430 California St. to become its new headquarters. The company will occupy 123,000 square feet of space across the top nine floors and plans to add hundreds of local employees to the workforce. The move comes as the second-largest office agreement in the city this year, after fintech Adyen's 150,000-square-foot sublease at 505 Brannan St. Ripling, which allows employees to work from home twice a week, plans to use the new space for customer events and training sessions. The expansion has been praised by Mayor London Breed, who called it "great news for our city and our economy".
Published : 4 weeks ago by Jillian D’Onfro in Business Tech
San Francisco-based tech startup Rippling has signed a massive lease downtown to serve as its new headquarters. The company will occupy 123,000 square feet of space across the top nine floors of 430 California St., spokesperson Bobby Whithorne told SFGATE.
Rippling, which makes a workforce management platform that includes payroll and IT tracking, has 500 local employees and plans to add “hundreds” more, he added. It currently operates out of 55 Second St. and plans to move into the new space in June.
The deal marks the second-largest office agreement in SF this year, following fintech Adyen’s 150,000-square-foot sublease at 505 Brannan St. in March. Meanwhile, the city’s office vacancies hit a new record in the first quarter of the year, according to the most recent data from commercial real estate firm CBRE — though the report also found that demand had started picking back up.
Rippling, which allows employees to work from home twice a week, plans to use the new space for customer events and training sessions as well. “San Francisco will always be home, and 430 California is an ideal location for our expansion,” Rippling Senior Vice President of HR and Client Services Darcy Mackay said in a statement.
The firm’s commitment to the city prompted praise from Mayor London Breed: “Rippling’s expansion in Downtown San Francisco is great news for our city and our economy,” she said in a statement. Downtown SF has faced a retail exodus lately, particularly in Union Square and the former Westfield mall, though bright spots exist, including the soon-to-open food hall from Ikea’s sister-company Ingka Centres.
The office, which is walking distance from the Montgomery Street BART stop, was previously occupied by crypto firm Coinbase, which went “remote-first” a few years ago, though it also leases space in the South Bay.
Rippling also has offices in Ireland, England, India, Australia and New York City. It was co-founded in San Francisco in 2016 as a second act for Parker Conrad, who resigned amid scandal from his previous HR tech firm Zenefits. The fast-growing firm has since raised $1.2 billion, though its San Francisco presence hasn’t been without snags. The firm caught flak a few years ago for bus stop ads that seemed to glorify one-click layoffs; it took them down in the wake of criticisms. It also had to scramble to find a new banking partner last year during the Silicon Valley Bank meltdown.