Leading payroll and HR company Deel announced that new anchor investors, including General Catalyst and a sovereign investor, have purchased close to $300 million in Deel secondaries from early investors. These investments signal Deel’s momentum and the long-term vision investors see in the company.
The company also revealed that it has achieved a run rate of $800 million as of December 2024, which has grown 70% year-over-year. And the business has been profitable for more than two years.
Since its graduation from Y Combinator in 2019, Deel evolved from a two-product hiring solution to a comprehensive suite of products that radically simplifies global workforce management. And Deel’s platform is now a full-stack solution and system of record that combines HRIS, payroll, compliance, benefits, performance, and more into one seamless platform across 150 countries.
Last year, two new independent board members had joined Deel as it prepares for its future: Francis deSouza, former CEO of Illumina and former board member of the Walt Disney Corporation, and Todd Ford, veteran board member and joint President and CFO at Coupa Software.
KEY QUOTES:
“We are proud to deepen our investment in Deel, a transformative platform that empowers global workforce enablement and drives economic growth around the world. What began as a seed investment at La Famiglia has grown into a business that aligns perfectly with the GC Famiglia ethos – helping more people get hired and businesses grow faster. Deel’s focus on enabling large enterprises to navigate the complexities of a global workforce fits well with our mission to back bold ideas that create enduring value.”
– Jeannette zu Fürstenberg, Managing Director of General Catalyst and Founding Partner of La Famiglia
“2024 was a remarkable year in terms of business and infrastructure growth, plus product innovation. We’re gearing up for an even bigger 2025. We look forward to working with new anchor investors to continue our momentum in the years ahead.”
– Deel co-founder and CEO Alex Bouaziz
