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NPS SCORE Equally important is that this growth has not come at the cost of client satisfaction. Our Net Promoter Score in January was 70, and has averaged 66 over the last several months: R&D INVESTMENT However, we believe that our growth rates demon- Building something like Rippling isn’t cheap. As you’ll strate that our bet was essentially correct — we’ve see if you take a demo, the product surface area is built the right product, one that customers want, and large. To hit our MVP, we’ve had to (re)build a payroll, we’re now winning deals against much larger and bene昀椀ts, and HRIS system that took companies like more mature companies that have spent a lot more to Zene昀椀ts, Gusto, and Namely years and tens of millions get to where we are. of dollars to build. And, we’ve had to build versions of Okta, OnePassword, and JAMF alongside it. Our gross margins show that the product is software end to end, and our sales and marketing ratios (magic To do this, we’ve invested in a great deal of up-front number, etc) show that this growth is based on sound R&D. For most of the last two years, Rippling was a fundamentals. company of almost entirely engineers (there are just over 40 today, or roughly 2/3 of our headcount). It’s only recently that we’ve been growing the sales team. The downside of this is that building something like Rippling wasn’t cheap, and the company’s total OpEx burn to date — roughly $XXmm — is more substantial than most startups as a result. 9 Rippling Memo

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