HR and Payroll Platform Deel Secures USD 300 Mn in Series E Funding Boosting Valuation to USD 17.3 Bn The new funding will support Deel's strategic acquisitions, product expansion, and the development of native payroll systems in more than 100 countries by 2029.
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Global HR and payroll platform Deel has secured USD 300 million in Series E funding led by Ribbit Capital, with participation from Andreessen Horowitz, Coatue Management, General Catalyst, and Green Bay Ventures.
The latest investment brings the company's valuation to USD 17.3 billion.
Founded in 2019, Deel enables businesses to hire, manage, and pay international teams across 150 countries. The company claims to serve over 37,000 clients and 1.5 million workers, processing USD 22 billion in payroll annually.
The company said that it has achieved three consecutive years of profitability, surpassing USD 1 billion in annual recurring revenue in early 2025, and recording its first USD 100 million revenue month in September.
The new funding will support Deel's strategic acquisitions, product expansion, and the development of native payroll systems in more than 100 countries by 2029. The company also plans to accelerate AI-driven innovation to enhance automation within its HR and payroll suite.
Alex Bouaziz, Co-founder and CEO of Deel, said, "This round is about doubling down on the global payroll infrastructure we've built from the ground up. We're reimagining how payroll should work for the next century—fluid, real-time, and truly borderless," he said. "Our mission is to become the single platform where companies can build, manage, and pay their teams anywhere in the world."
Ribbit Capital founder Micky Malka added, "Deel is uniquely positioned to build products for global expansion. As a fully remote company with employees in over 100 countries, Deel understands what it takes to support businesses operating without borders. The company and its leadership have a limitless opportunity ahead of them."
Deel claims to have reported rapid growth across its product lines, including a 1,500 percent increase in US payroll and PEO services, 600 percent growth in HR products, and 450 percent expansion in global payroll.
With enterprise clients such as LEGO, Puma, FedEx, and Klarna, Deel continues to establish itself as a key player in reshaping the infrastructure for global work amid competition from Rippling, Velocity Global, Multiplier, and Oyster HR.
