Global HR and payroll startup Deel has raised $300 million in a Series E funding round, valuing the company at $17.3 billion—a significant leap that cements its position among the most valuable private HR tech firms worldwide. The round was co-led by Ribbit Capital—a new investor—and existing backers Andreessen Horowitz (a16z) and Coatue Management.
The fresh capital comes on the heels of a standout year for Deel. Earlier in 2025, the company surpassed $1 billion in annual recurring revenue (ARR) and achieved three consecutive years of profitability, including its first $100 million revenue month in September.
Deel’s platform now processes $22 billion in annual payroll for over 35,000 customers and 1.5 million workers spread across 150+ countries. With the new funding, the company plans to double down on its AI-powered payroll and HR infrastructure, aiming to build the foundation to serve 100 million employees globally.
Global First Approach and Early Bets
Founded just six years ago, Deel has disrupted traditional HR and payroll systems by enabling companies to hire and pay international talent within days—streamlining compliance across hundreds of jurisdictions. Unlike most HR firms that start domestically and expand outward through third-party integrations, Deel was built global from day one, investing early in owning its infrastructure rather than leasing it.
This decision, the company says, became a key competitive advantage. Deel’s platform integrates seamlessly with multiple HR and finance systems, allowing clients to use it as a standalone solution or within broader tech stacks. This open approach contrasts sharply with the closed ecosystems that dominate the HR industry.
Reengineering Payroll for the AI Era
Deel is taking aim at what it describes as a “broken payroll infrastructure”—an industry long plagued by outdated frameworks and manual processes. Its solution is a global payroll processing engine, already live in 55+ countries including the U.S., Canada, Singapore, South Africa, and Brazil.
The company owns 250+ legal entities and holds financial licenses in major regions including the U.S., Canada, the U.K., and the EU. By 2029, Deel expects to reach real-time, native payroll processing in 100+ countries.
Among its flagship innovations is Anytime Pay, which allows employees to access their earned wages at any point during the month—a feature powered by its real-time infrastructure.
Expanding Product Lines and Customer Adoption
Over the past year, Deel’s product portfolio has evolved from two core offerings into a suite of ten-plus solutions across HR, payroll, immigration, and IT management.
Key growth highlights since early 2024 include:
- HR suite: 600% growth; Deel Engage surged 1,400%
- U.S. expansion: 1,500% increase in adoption of U.S. payroll and PEO services
- Emerging products: Deel Immigration grew 220%; Deel IT grew 410%
- Global payroll: Expanded 450%, becoming a core revenue pillar
The company also reported a 480% increase in customers using three or more products, and a 1,200% jump in customers using four or more, signaling a deepening customer reliance on the platform.
Laying the Foundation for the Future of Work
Deel’s mission remains clear: to become the global platform for work. The company plans to continue expanding its infrastructure and investing in AI capabilities to simplify cross-border employment further.
“We’ve come a long way, but in many ways, it still feels like day one,” the company said in a statement. “The journey to reimagine how the world works has only just begun.”
With its latest funding, Deel is poised not just to grow, but to reshape how companies worldwide manage talent, payroll, and compliance in the global era.
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