Deel, a global HR and payroll leader, has raised $300 million in a Series E funding round, valuing the company at $17.3 billion. The round was led by new investor Ribbit Capital, joined by returning backers Andreessen Horowitz and Coatue Management, with participation from General Catalyst, Green Bay Ventures, and others.
The funding underscores Deel’s rapid ascent as one of the most valuable private companies in the HR tech sector, following a year marked by significant milestones and global expansion.
The investment follows Deel’s third consecutive year of profitability and its first $100 million revenue month in September 2025. Earlier this year, the company crossed $1 billion in annual recurring revenue (ARR), reflecting accelerating adoption across its expanding customer base. Deel now serves over 37,000 businesses and 1.5 million workers across more than 150 countries, processing $22 billion in payroll annually.
The company plans to deploy the new capital to accelerate acquisitions that bolster its product suite and geographic footprint. Deel is also focusing on building out its proprietary payroll infrastructure, with an ambitious goal to deliver native payroll in over 100 countries by 2029. Deel also plans to scale its AI capabilities to enhance automation across HR and payroll operations and attract top-tier AI talent.
Deel’s growth has surged across all segments and product lines. Over the past year, the company achieved 1,500% growth in its U.S. products, 600% in HR products, and 450% in global payroll. Deel Immigration and Deel IT solutions experienced significant growth, increasing by 220% and 410%, respectively.
The number of customers using three or more products increased by 480%, while those using four or more rose by 1,200%. Major enterprise clients such as LEGO, Puma, Virgin Media, Klarna, Capgemini, FedEx, Nubank, Palantir, Novo Nordisk, Fidelity, and Pepsi have joined Deel’s portfolio, illustrating its growing role as core infrastructure for global workforces.
Deel’s CEO Alex Bouaziz emphasized that the latest investment will further advance the company’s mission to simplify international hiring, compliance, and payroll.
KEY QUOTES:
“We’re proud to welcome some of the world’s best investors as partners in this next chapter for Deel. 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 – and continuing our mission to become the single platform where companies can build, manage, and pay their teams anywhere in the world.”
– Alex Bouaziz, Co-founder and CEO, Deel
“We have been fans of Deel for a long time, it’s a brand companies trust and we’re excited to invest. Deel – itself a fully remote, global company with employees in over 100 countries – is uniquely positioned to build products for global expansion. The company and its leadership have a limitless opportunity ahead of them.”
– Micky Malka, Founder, Ribbit Capital
“Since our first investment into Deel in 2020, we’ve been blown away by the Deel team’s pursuit of building the best HR platform to offer access to employment opportunities and financial services for the global workforce. Deel’s continued progress is a testament to how essential their infrastructure has become to customers everywhere, and we are thrilled to co-lead this latest round.”
– Ben Horowitz, Cofounder, Andreessen Horowitz
