Deel Raises $ 425 Million In Series D Funding To Continue Transforming The Future Of Jobs
With a valuation of 5.5 billion USD, Deel consolidates its position as the most valued company in the global area of hiring, payments and compliance
Deel, the remote recruiting company breaking down barriers to employment globally, announced that it has raised Series D funding to the tune of $ 425 million, and bringing the total amount raised by the company to more than 630 million USD. The most recent round of funding values the company at $ 5.5 billion. With this investment, Deel has become the most valuable company in the global hiring, payments and compliance arena.
This new round of financing was led by Coatue, based in the United States, with, as principal partners, Rahul Kishore and Lucas Swisher . Several new and existing investors also participated, including Altimeter Capital, Andreessen Horowitz, the YC Continuity Fund, Spark Capital, Greenbay Ventures, Neo, and over 40 of the world’s leading operators.
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Since Deel’s creation in 2019, the team, growing from four to 400 employees as it has grown, has made it their mission to make remote working more accessible to teams and businesses around the world, all by providing the best employee onboarding experience on the market. Today, companies are reinventing new flexible working arrangements to acquire and retain the best talent. Deel breaks down the barriers to remote hiring and creates an opportunity for everyone, with a platform, tools and flexibility, designed for teams to thrive when and where they want to work.
With more than 4,500 customers worldwide, Deel serves companies like Coinbase, Intercom and Shopify in more than 150 countries. Whether businesses wanting to embrace a hybrid or fully remote work environment, or looking for talent around the world, Deel’s technology offers payroll, human resources, compliance, bonuses, benefits. , and other unparalleled capabilities essential to recruiting and managing global teams; so many operations that a company could only take care of by dedicating the work of an entire internal team to them. With Deel, businesses can hire employees and contractors, with full compliance and without the need for a local entity, all in under 5 minutes.
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“We have been following Deel since 2020 and have been impressed with Alex and Shuo’s vision,” said Rahul Kishore, Senior Managing Director, Coatue. “The more we knew about Deel, the more we admired his remarkable and constant expansion, and we are convinced that this is only a start given the potential of the team. And Lucas Swisher, General Partner of Coatue, who co-led the funding cycle, added: “We were then fascinated by how the platform was able to convert this overwhelming task into a tool for everyone, thus making move global employment from dream to reality. ”
“The way of working is fundamentally changing. And there will be no going back, ”said Alex Bouaziz, CEO of Deel. “We founded Deel because we didn’t want hiring or payments to stop companies from building the best global teams and finding the best global talent. We will continue to challenge the operating standards of companies and continue to create tools that shape the future of work. ”
“We’ve been with Deel from the start and have seen how they transformed and developed tools in record time to help create a better experience for businesses and their teams,” said Anish Acharya, General Partner at Andreessen Horowitz . “The future is bright for Deel, but even brighter for the international teams they help energize around the world. ”
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