Total amount raised
$979 Millions
Latest funding date
Location
Title
Deel has successfully raised significant funding over multiple rounds, establishing itself as a key player in the payroll and compliance sector. The platform offers comprehensive solutions for global payroll, contractor management, and HR operations.
Keep reading to explore the intricacies of Deel's fundraising journey and the investors backing this innovative platform.
What Is Deel?
Deel, founded in 2019, is a San Francisco-based company specializing in global payroll, compliance, and HR solutions. The company was established by Alex Bouaziz, Ofer Simon, Philippe Bouaziz, and Shuo Wang.
Deel's platform integrates contracts, payments, and taxes into a single interface, streamlining the hiring and management of a global team. It simplifies onboarding, offboarding, payroll, compliance, hiring, taxes, invoices, and HRIS for global teams.
With a workforce of 1001-5000 employees, Deel supports over 35,000 companies worldwide, ranging from startups to enterprises, helping them scale globally with ease.
How Much Funding Has Deel Raised?
- Pre-Seed Round
- Amount Raised: $150K
- Date: March 2019
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and validate the business model.
- Seed Round
- Amount Raised: $3.9M
- Date: April 2019
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $14M
- Date: May 2020
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series B
- Amount Raised: $30M
- Date: September 2020
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and support rapid growth.
- Series C
- Amount Raised: $156M
- Date: April 2021
- Lead Investors: Andreessen Horowitz, Spark Capital, Y Combinator Continuity Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand global reach and invest in new product features.
- Series D
- Amount Raised: $425M
- Date: October 2021
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To solidify market leadership and prepare for future growth.
- Series D
- Amount Raised: $50M
- Date: May 2022
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance product offerings.
- Secondary Market
- Amount Raised: -
- Date: November 2022
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors.
- Secondary Market
- Amount Raised: $300M
- Date: February 2025
- Lead Investors: General Catalyst, Sovereign Investor
- Valuation at Round: $12B
- Motivation Behind the Round: To provide liquidity for early investors and support long-term growth.
Total Amount Raised: $978.05M. Current Valuation: $12B.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz is a prominent venture capital firm based in Silicon Valley. It has a reputation for backing transformative technology companies.
- Investment Focus Areas: Technology, Software, Fintech, Healthcare
- Notable Investments: Facebook, Airbnb, Lyft
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in early and growth-stage companies. It is known for its focus on consumer and enterprise technology.
- Investment Focus Areas: Consumer, Commerce, Fintech, Media
- Notable Investments: Twitter, Oculus, Slack
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups. It is renowned for its early-stage investments and mentorship programs.
- Investment Focus Areas: Early-stage startups across various sectors
- Notable Investments: Dropbox, Airbnb, Stripe
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in transformative companies. It aims to create enduring value through its investments.
- Investment Focus Areas: Technology, Healthcare, Fintech
- Notable Investments: Airbnb, Stripe, DoorDash
- Mubadala
- Details: Mubadala is the sovereign wealth fund of Abu Dhabi. It manages a diversified global portfolio to generate sustainable financial returns.
- Investment Focus Areas: Technology, Healthcare, Infrastructure
- Notable Investments: AMD, SoftBank
What's Next for Deel?
Deel's future is brimming with opportunities, driven by its comprehensive suite of global workforce management products. With a run rate of $800 million and a valuation of $12 billion, the company is well-positioned to deepen relationships with investors like General Catalyst and Mubadala. This financial strength opens doors for further expansion and innovation, potentially leading to an IPO in 2026.
However, the path ahead is not without challenges. Deel must navigate the complexities of operating in 150 countries, ensuring compliance with diverse regulatory environments. Additionally, maintaining its high growth rate and profitability amidst increasing competition in the HR tech space will be crucial. Despite these hurdles, Deel's strong financial backing and strategic vision suggest a promising future.
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