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- Deel
Deel Revenue, Valuation, Funding & Investors
Deel is valued at $17B as of October 2025, a 10.0x multiple on its last reported $1.7B revenue.
Last Deel valuation
$17B
Series E · Oct 2025
Last Deel funding round
$300M
Series E · Oct 2025
Deel revenue
$1.7B
Series E · Oct 2025
Key investors in Deel
Y Combinator
Andreessen Horowitz
Spark Capital
General Catalyst
Coatue
Cem Garih
About Deel
Deel is a San Francisco-headquartered global workforce management platform handling payroll, compliance, HR, and payments for employees and contractors in over 150 countries. The service includes Employer of Record and Contractor of Record options, automated invoicing, multi-currency transfers, and integrations with HRIS systems like Workday and BambooHR, ensuring local tax and benefits adherence.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$1.7B (Oct 2025)
Valuation
$17B (Oct 2025)
Deel Valuation
Deel is currently valued at $17B, based on its Series E in October 2025.
The $300M round was led by Andreessen Horowitz, Coatue and Ribbit Capital, with participation from General Catalyst and Green Bay Ventures.
Deel's valuation has grown 77x from $225M at its Series B in September 2020 to $17B in October 2025, across 6 priced rounds.
Deel valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Oct 2025 | Series E | $17B | 10.0x |
| Feb 2025 | Secondary | $13B | 15.8x |
| May 2022 | Series D | $12B | 120.0x |
| Oct 2021 | Series D | $5.5B | 110.0x |
| Apr 2021 | Series C | $1.3B | - |
| Sep 2020 | Series B | $225M | - |
Deel Revenue
Deel's latest recorded revenue is $1.7B, as of its Series E in October 2025. At a $17B valuation, that implies a 10.0x revenue multiple.
Revenue grew from $50M in October 2021 to $1.7B in October 2025, while the revenue multiple moved from 110.0x to 10.0x.
Deel revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Oct 2025 | $1.7B | $17B | 10.0x | Series E |
| Feb 2025 | $800M | $13B | 15.8x | Secondary |
| May 2022 | $100M | $12B | 120.0x | Series D |
| Oct 2021 | $50M | $5.5B | 110.0x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Deel Funding History
Deel has raised a total of $979M across 8 funding rounds, plus 1 secondary share sale.
Deel's first fundraising round was a $200K pre-seed round in March 2019. The most recent completed round was a $300M Series E in October 2025.
Deel funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2025 | Series E | Andreessen Horowitz (lead); Coatue (lead); Ribbit Capital (lead); General Catalyst; Green Bay Ventures | $300M | $17B | Deel, a global HR and payroll platform founded in 2019, provides managed payroll, hiring, compliance, and payment solutions for companies with international teams, processing $22 billion in payroll annually for over 37,000 businesses and 1.5 million workers across 150+ countries. Enterprise clients include Nubank, Fidelity, Klarna, LEGO, Puma, Capgemini, and Pepsi. The company started as an escrow platform for freelancers before expanding into a comprehensive HR suite. On October 16-20, 2025, Deel raised $300 million in a Series E funding round co-led by Andreessen Horowitz, Coatue, and Ribbit Capital, with participation from General Catalyst and Green Bay Ventures, achieving a $17.3 billion post-money valuation—a 44% increase from its prior $12 billion valuation in 2022. This follows a $425 million Series D at $5.5 billion in 2021 and a secondary sale earlier in 2025. Deel has raised nearly $1.3 billion total since inception and reports three years of profitability with ~16% EBITDA margins. Deel surpassed $1 billion in annual recurring revenue (ARR), achieving a record $100 million revenue month in September 2025, with nearly 70% YoY growth. One source notes $1.2 billion in annual run-rate revenue. Growth includes 1,500% in U.S. products, 600% in HR solutions, 450% in global payroll, and 480% in multi-product customers. An analyst estimates a 10x-11x next-twelve-months (NTM) revenue multiple on the valuation. Funds will support AI talent recruitment, proprietary payroll systems for 100+ countries by 2029, strategic acquisitions (budgeted at ~$500 million, following prior deals like Atlantic Money, PaySpace, PayGroup, Zavvy, and Safeguard), and infrastructure expansion. Deel eyes a potential 2026 IPO or direct listing, amid competition with Rippling and a shift toward higher-margin software in fintech. |
| Feb 2025 | Secondary | General Catalyst; Mubadala | $300M | $13B | Deel is a global HR and payroll platform that enables businesses to hire, manage, and pay remote employees across 150 countries, offering a full-stack solution including HRIS, compliance, benefits, and performance management. The company, headquartered in San Francisco with offices in Tel Aviv, New York, London, and Berlin, secured a $300 million secondary share sale in April 2025 to General Catalyst and Mubadala, Abu Dhabi's sovereign wealth fund, providing liquidity to early investors without new capital entering the company. This transaction valued Deel at $12.6 billion, up from $12 billion in its May 2022 primary round. Deel reported an $800 million annual revenue run rate as of December 2024, reflecting 70% year-over-year growth, and has maintained profitability for over two years. The platform supports over 35,000 businesses and has processed more than $11.2 billion in payments. Total funding raised prior to this secondary stands at approximately $680 million since its 2019 Y Combinator graduation. The secondary sale and financial milestones position Deel for a potential IPO as early as 2025 or 2026, with new board members including Francis deSouza, former CEO of Illumina, and Todd Ford, veteran at Coupa Software. Deel competes with Rippling, Remote, Papaya Global, and others in the global workforce management space amid rising demand for remote and AI-driven HR solutions. |
| May 2022 | Series D | Emerson Collective; Sinai Capital Partners; Y Combinator; Spark Capital; Andreessen Horowitz; BAM Elevate | $50M | $12B | Deel is a San Francisco-based global payroll and HR platform that enables companies to hire, onboard, pay, and manage remote employees and contractors worldwide in over 150 currencies, ensuring compliance without local entities. The company saw explosive growth amid the remote work boom during COVID-19, scaling from $4 million ARR at the start of 2021 to $50 million by December 2021 and $100 million by April 2022, with over 20% month-over-month growth and a customer base doubling from 4,000 to more than 8,000 between October 2021 and May 2022. Clients include Coinbase, Dropbox, Shopify, Notion, and LG. In May 2022, Deel raised $50 million in a venture funding round from new investor Emerson Collective (led by Laurene Powell Jobs), alongside existing backers Andreessen Horowitz, Spark Capital, Y Combinator, and others including BAM Elevate and Sinai Capital Partners as previously involved parties, achieving a post-money valuation of $12 billion—more than doubling from $5.5 billion in its prior October 2021 $425 million Series D round and up from $1.25 billion unicorn status earlier in 2021. This brought total funding to $679 million. The round followed Deel's acquisition of its exact-match Deel.com domain and was noted for the company's low burn rate of under $10 million in 2021 (expected to rise modestly in 2022) and high gross margins of 82-85%. Deel operated with strong unit economics in a competitive landscape including Rippling, Gusto, and Remote, positioning itself as a comprehensive platform for international payroll and compliance. CEO Alex Bouaziz highlighted ambitions to double revenue in 2023 toward $1 billion ARR in 2-4 years, leveraging the valuation for acquisitions like PayGroup for $83 million in November. |
| Oct 2021 | Series D | Coatue (lead) | $425M | $5.5B | Deel is a San Francisco-based remote hiring and HR platform that enables companies to hire, pay, and manage employees globally across borders. Founded in 2019, the company provides tools for international employment, payroll processing, and compliance, addressing the growing demand for remote and cross-border work. In its Series D funding round announced October 18, 2021, Deel raised $425 million at a post-money valuation of $5.5 billion, representing a more-than-fourfold increase from its April 2021 valuation of $1.25 billion. The round was led by Coatue Management, with participation from Altimeter Capital, Andreessen Horowitz, the YC Continuity Fund, Spark Capital, Greenbay Ventures, Neo, and over 40 additional operators. At the time of the round, Deel was experiencing rapid growth, with headcount expanding from approximately 60 employees in 2020 to over 400, and customer base growing from 1,800 to more than 4,500. The company forecasted $50 million in annual recurring revenue (ARR) by the end of 2021, up from single-digit millions the prior year. The funding was intended for international expansion, new product development including premium offerings, and strategic acquisitions to accelerate growth. Deel subsequently achieved significant milestones, crossing $1 billion in ARR and securing additional funding rounds, including a $300 million Series E at a $17.3 billion valuation in October 2025. |
| Apr 2021 | Series C | Andreessen Horowitz (lead); Spark Capital (lead); Y Combinator Continuity Fund (lead); Jeffrey Katzenberg; Dara Khosrowshahi; Anthony Schiller; Jeffrey Wilke; Nick Raushenbush; Lachy Groom; Roosh Ventures; Cem Garih | $156M | $1.3B | Deel is a San Francisco-based fintech platform providing global payroll, compliance, and payment solutions for hiring remote employees and contractors in over 150 countries, supporting 120+ currencies, onboarding, contracts, tax forms, invoicing, and insurance options. Founded in 2018 by Alex Bouaziz and Shuo Wang, the company grew rapidly from 7 employees in January 2020 to over 120 across 26-30 countries by April 2021, serving more than 1,800 customers ranging from SMBs to public companies. On April 21, 2021, Deel raised $156 million in a Series C funding round led by Y Combinator Continuity Fund and co-led by Andreessen Horowitz and Spark Capital, achieving unicorn status at a $1.25 billion post-money valuation. Additional investors included Uber CEO Dara Khosrowshahi, Lachy Groom, Jeffrey Katzenberg, Jeff Wilke, Anthony Schiller, Cem Garih, Nick Raushenbush, Roosh Ventures, and others, bringing total funding to over $200 million within a year following prior rounds of $14 million and $30 million. Deel plans to use proceeds for international expansion by opening 80 more Deel-owned entities before 2022, hiring, product development including Deel API, global equity grants, salary insights, loans, and enhanced benefits. YC Continuity's Ali Rowghani joined the board. |
| Sep 2020 | Series B | Spark Capital (lead); Y Combinator; Worklife Ventures; Ben Lang; William Hockey; Nat Friedman; Alexis Ohanian; John Zimmer; Ryan Petersen | $30M | $225M | Deel is a remote hiring platform that enables businesses to hire and onboard international employees or contractors compliantly in under five minutes without a local entity, supporting payments in over 120 currencies. Co-founded by MIT alumni Alex Bouaziz and Shuo Wan, the company launched in 2019 and focuses on simplifying global payroll, compliance, and payments to remove barriers to remote work. In September 2020, Deel raised $30 million in a Series B round led by Spark Capital, with participation from investors including Alexis Ohanian, Ben Lang, John Zimmer, Nat Friedman, Ryan Petersen, William Hockey, Worklife, and Y Combinator, achieving a post-money valuation of $225 million. The round came amid rapid growth, as Deel expanded from 500 business clients at the time of the raise to over 1,800 by early 2021, alongside a reported 20x revenue increase in 2020. This positioned Deel for unicorn status in its next round just seven months later, when it raised $156 million in Series C funding led by YC Continuity Fund, Andreessen Horowitz, and Spark Capital at a $1.25 billion valuation. Deel's investor base, including high-profile angels and firms like Spark Capital, supported its mission to hire 'anyone, anywhere.' The platform grew its team to over 120 people across 30 countries by 2021 and continued scaling with later rounds, such as a $300 million Series E in recent years reaching $17.3 billion valuation, but the 2020 round marked a key early milestone in building global HR infrastructure. |
| May 2020 | Series A | Andreessen Horowitz (lead); Firebolt Ventures; SV Angel; Cambrian Ventures | $14M | - | - |
| Apr 2019 | Seed | Daniel Gross; Esas Ventures; Y Combinator; Incisive Ventures; Justin Mateen; Avichal Garg; AltaIR Capital; La Famiglia; Alexandre Scialom; Elad Gil; Fresh Ventures; Cem Garih | $4M | - | - |
| Mar 2019 | Pre-seed | Y Combinator (lead) | $200K | - | - |
Who has invested in Deel?
40 investors have backed Deel across its funding rounds, including Y Combinator, Andreessen Horowitz, Spark Capital, General Catalyst, Coatue and Cem Garih.
Lead investors include Andreessen Horowitz, Coatue, Ribbit Capital, Spark Capital, Y Combinator Continuity Fund and 1 other investor.
Deel Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Mar 2019 | ||
| 4 | Lead | May 2020 | ||
| 3 | Lead | Sep 2020 | ||
| 2 | Participant | Feb 2025 | ||
| 2 | Lead | Oct 2021 | ||
| 2 | Participant | Apr 2019 | ||
| 1 | Participant | May 2020 | ||
| 1 | Participant | May 2022 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Participant | May 2022 | ||
| 1 | Participant | Apr 2021 | ||
| 1 | Participant | May 2020 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Deel
Deel has acquired 13 companies to date.
Last acquisition by Deel was on August 2nd 2026. Deel acquired Clarity for undisclosed valuation.
Latest Acquisitions by Deel
| Description | Clarity is an AI-powered cybersecurity firm combating deepfake misinformation and synthetic media threats. The San Francisco-headquartered company deploys detection algorithms trained on vast datasets to verify video authenticity for enterprises and individuals. Clarity integrates with security operations centers to scan social media and internal communications, preventing fraud in elections, finance, and executive protection scenarios worldwide. | Omnipresent is a global employment platform managing payroll, compliance, benefits, and HR support for companies building remote international teams. Launched in 2019 and registered in London, the fully remote operator covers over 150 countries with local entity setups and contractor management. It partners with firms scaling workforces across Europe, Asia, and the Americas without establishing subsidiaries. | - | Assemble is a compensation management platform used by organizations to standardize pay decisions and audit equity. It models salary bands, bonus structures, and equity grants based on role, experience, and market data, integrating with HR systems like Workday for annual reviews. | |
| HQ Country | |||||
| HQ City | New York City, NY | London | - | San Francisco, CA | |
| Deal Date | 2 Aug 2026 | 17 Oct 2025 | 11 Mar 2025 | 19 Dec 2024 | |
| Valuation | undisclosed | $15M | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Deel acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Investments by Deel
Deel has invested in 6 companies to date.
Latest investment by Deel was on May 27th 2026. Deel invested in Zeely in their $1M Seed round.
Latest Investments by Deel
| Description | Zeely is a Tel Aviv-based AI platform that automates digital advertising by generating user-generated content-style video ads, static creatives, and full campaigns from scripts, avatars, and templates. It supports businesses in launching optimized ads with AI-driven targeting, real-time performance adjustments, and analytics dashboards. Zeely integrates with major ad networks to boost sales through automated A/B testing and conversion tracking. Launched in 2023, the platform caters to e-commerce brands and marketers seeking rapid deployment across social media and display channels. | Prelude is a company advancing SMS verification infrastructure. Prelude supplies unified APIs for fraud detection and mobile onboarding to businesses. | Munice is a sleep technology company delivering analytical tools and customized sleep optimization solutions for personal wellness. Operating through its platform at munice.com, it targets individuals seeking data-driven insights into sleep patterns and improvements. | Famnest is a digital platform for family organization and information management. Shared calendars, budgeting tools, health record storage, task management, and AI-assisted features support secure data sharing and activity coordination. | |
| HQ Country | |||||
| HQ City | Wilmington, DE | Paris | - | Stockholm | |
| Deal Date | 27 May 2026 | 19 May 2026 | 17 May 2026 | 30 Apr 2026 | |
| Round | Seed | Series A | Seed | Pre-seed | |
| Raised | $1M | $20M | $100K | $100K | |
| Investors | - | Félix Blossier; Benjamin Netter; Will Wu; Barney Hussey; Henri Moissinac; Seedcamp; Barnabas Birmacher; FDJ UNITED Ventures; Irakly Arison; 20VC; Antoine Le Nel | - | - | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Deel investments and their VC round multiples. Start Free Trial | |||||
Deel Competitors
Deel competitors include listed companies like Paycom and Paylocity, and private ones like G-P/Globalization Partners, Rippling, Gusto and Personio.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $1B | - | $4.2B | 4.2x | ||
| Private | $570M | - | $17B | 29.5x | ||
| Publicly listed | $2.1B | $799M | $10B | 5.1x | ||
| Private | $500M | - | $9.5B | 19.0x | ||
| Private | $242M | - | $8.5B | 35.1x | ||
| Publicly listed | $1.8B | $499M | $7.8B | 4.2x |
Deel Public Comps
Deel is still privately-owned, but its public comps include Wipro, Capgemini, Bureau Veritas, SGS, Intertek, Jack Henry & Associates, Paycom, Paylocity, Cognizant and Genpact.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $9.7B | $1.9B | 1.6x | 1.5x | 8.0x | 7.7x | |||
| $26B | $3.4B | 1.1x | 1.1x | 8.6x | 6.8x | |||
| $7.4B | $1.4B | 2.2x | 2.2x | 11.6x | 10.8x | |||
| $8.5B | $1.8B | 3.2x | 3.0x | 15.3x | 13.3x | |||
| $4.6B | $993M | 3.1x | 3.0x | 14.2x | 13.1x | |||
| $2.5B | $848M | 4.3x | 4.3x | 12.9x | 13.2x | |||
| $2.1B | $799M | 5.3x | 5.1x | 13.7x | 11.3x | |||
| $1.8B | $499M | 4.3x | 4.2x | 15.3x | 11.5x | |||
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Common questions about Deel
| When was Deel founded? | Deel was founded in 2019. |
| Where is Deel headquartered? | Deel is headquartered in San Francisco, CA, United States. |
| Is Deel publicly listed? | No, Deel is a private, VC-backed company. |
| What is Deel's valuation? | Deel was last valued at $17B in its Series E in October 2025. |
| How much funding has Deel raised? | Deel has raised $979M across 8 funding rounds. |
| What was Deel's last funding round? | Deel's last funding round was a $300M Series E in October 2025, led by Andreessen Horowitz, Coatue and Ribbit Capital. |
| Who are Deel's investors? | Deel's investors include Y Combinator, Andreessen Horowitz, Spark Capital, General Catalyst, Coatue, Cem Garih, Firebolt Ventures, Emerson Collective, Daniel Gross, Esas Ventures and 30 others. |
| What is Deel's revenue? | Deel's latest recorded revenue is $1.7B (October 2025). |
| What is Deel's revenue multiple? | Deel's latest valuation implies a 10.0x revenue multiple ($17B valuation on $1.7B of revenue). |
| Which companies are comparable to Deel? | Companies comparable to Deel include G-P/Globalization Partners, Rippling, Paycom, Gusto, Personio and Paylocity. |
| How many companies has Deel acquired? | Deel has acquired 13 companies, including Clarity, Omnipresent, Safeguard Global (payroll unit), Assemble and Atlantic Money. |
| What was the largest acquisition by Deel? | The $100M acquisition of Hofy in July 2024 is the largest acquisition Deel has made to date. |
| How many companies has Deel invested in? | Deel has invested in 6 companies, including Zeely, Prelude, Munice, Famnest, Pluvo and Sphinx. |
| What was Deel's last investment? | In May 2026, Deel invested in Zeely's $1M seed round. |
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