Rippling, Amid Legal Tussle, Seeks Funding at $16 Billion Value

Business software maker Rippling, which is suing a rival for allegedly working with one of its employees to steal trade secrets, is in early talks to raise hundreds of millions of dollars at a valuation of about $16 billion, according to people familiar with the matter.

The talks are ongoing, and investors are likely to finalize terms within a few weeks, said one of the people, who asked not to be identified because the information is private. They also said that the discussions are still fluid and the terms could change.

A representative for the startup declined to comment.

The new funding round represents rising prospects for ...