Deel Raises $425M in Series D Funding to Continue Transforming the Future of Work
Deel, the remote hiring company shattering job barriers worldwide, announced today that it has raised $425 million in Series D funding, taking the total amount raised by the company to over $630 million. The latest funding round values the company at $5.5 billion. Deel has become the highest valued company in the global hiring, payments, and compliance space with this investment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211018005567/en/
Deel Interface (Graphic: Business Wire)
This new funding round was led by US-based Coatue, with partners Rahul Kishore and Lucas Swisher leading the deal. Several new and existing investors also participated in this round, including Altimeter Capital, Andreessen Horowitz, the YC Continuity Fund, Spark Capital, Greenbay Ventures, Neo, and over 40 of the world’s leading operators.
Since Deel’s inception in 2019, the team - growing from four to 400 employees - has been on a mission to make remote work more accessible for teams and businesses everywhere in the world and build the best employee onboarding experience on the market. Today, Companies are reimagining what new flexible work arrangements look like to acquire and retain top talent. Deel eliminates remote hiring obstacles and creates an opportunity for all with a platform, tools, and flexibility built for teams to thrive whenever and wherever they want to work.
Deel serves more than 4,500 customers worldwide from names like Coinbase, Intercom and Shopify in over 150 countries. Whether a company is looking to adopt a hybrid or fully remote work environment or source talent from across the world, Deel’s technology offers unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team—something businesses would have required an entire in-house team to take care of prior. With Deel, businesses can hire employees and contractors compliantly without needing a local entity in less than 5 minutes. Companies can also pay teams in more than 120 currencies with just a click.
"We had been tracking Deel since 2020 and were impressed by Alex and Shuo’s vision," said Rahul Kishore, a Senior Managing Director at Coatue. "As we learned more about Deel, we became excited by their increased and impressive scale and believe we are in the early innings of what the team is capable of." Lucas Swisher, a General Partner at Coatue who co-led the round, added, "We were then impressed by how the platform was able to distill something so overwhelming into a tool anyone can use to take global employment from dream to reality."
“The way people work is fundamentally changing. And it’s never going back,” said Deel CEO Alex Bouaziz. “We founded Deel because we didn’t want hiring or payments to prevent businesses from building the best global teams and finding the best global talent. We’re going to keep challenging the norms of how companies operate and continue building tools that shape the future of work.”
“We've been on board with Deel since the start and seen how they transformed and developed tools in record time to help create a better experience for businesses and their teams," said Anish Acharya, general partner at Andreessen Horowitz. "The future is bright for Deel, but even brighter for the international teams they’re helping unlock across the globe."
Deel is a leading global compliance and payroll solution that helps businesses hire anyone, anywhere. Deel’s technology offers unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team.
Using a tech-enabled self-serve process, Deel’s customers can hire independent contractors and full-time employees in over 150 countries, compliantly and in minutes. With more than 250 legal, accounting, mobility, and tax experts as partners, Deel enables any business to create, sign and send compliant localized contracts from a library of templates and pay teams in more than 120 currencies with just a click.
Founded in 2019 by Alex Bouaziz and Shuo Wang, Deel is a fully distributed company with employees based worldwide. Learn more about Deel here.
Coatue is one of the largest technology investment platforms in the world with over $45 billion in assets under management. Our dedicated team of engineers and data scientists work closely with investment professionals to add value to founders and executive teams in our portfolio. With venture, growth and public funds, we back entrepreneurs from around the globe and at every stage of growth. Some of our private investments have included Airtable, Ant Financial, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap, Snowflake and Spotify.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Nel ASA: Receives Purchase Order for 20MW Alkaline Electrolyser From Ovako26.11.2021 20:45:00 CET | Press release
Nel Hydrogen Electrolyser AS, a division of Nel ASA (Nel, OSE:NEL), has received a purchase order for a 20MW alkaline water electrolyser from Ovako, a leading European manufacturer of engineering steel. The electrolyser will be installed at Ovako’s existing plant in Hofors, Sweden. The fossil-free hydrogen will replace the use of fossil propane gas currently used in the heating furnaces. “We are excited to announce the delivery of electrolyser equipment to Ovako. There is huge potential in reducing CO2-emissions from steel-heating processes through green hydrogen. We look forward to working with Ovako and its partners to further develop fossil-free steel production,” says Jon André Løkke, CEO at Nel. The purchase order has a contract value of approximately EUR 11 million with equipment delivery in late 2022. The electrolyser will produce oxygen and hydrogen for Ovako’s steel-heating process and is a major step towards zero-carbon emission steel production. The conversion to hydrogen wi
'Afghan Girl' Sharbat Gula Safely Evacuated to Italy Via Efforts of Photographer Steve McCurry, Metagood/OnChainMonkey Crypto Community & Future Brilliance Charity26.11.2021 18:16:00 CET | Press release
The legendary 'Afghan Girl' photographer, Steve McCurry, and his sister, Bonnie McCurry, are delighted to announce that, together with the British-American charity, Future Brilliance, and with the support of the Italian government, and NFT for Social Good platform Metagood, they have been able to bring the famous icon for Afghan female refugees, Sharbat Gula, to safety. Background: Six weeks ago, Bonnie McCurry reached out to Future Brilliance founder, impact pioneer, and investor Sophia Swire who has a 30-year track record of empowering women in Afghanistan. She told Sophia that Sharbat Gula wanted to be evacuated with her family. After considering all the various country options, they confirmed with Sharbat that her family hoped to seek asylum in Italy. Sophia and her team activated the Future Brilliance network in Afghanistan and, together with the McCurry family, arranged the necessary paperwork, visas, and logistics. The NFT for good platform Metagood (who worked with McCurry to d
ZOVOO Held Distributor Conference, Creating a Splash of Colour in Atomization Industry26.11.2021 16:45:00 CET | Press release
At 9:30pm (GMT +8) on November 12, ZOVOO, a new industry-leading atomization company, held its 2021 distributor conference online. Distributors from United States, United Kingdom, France and other countries participated in the conference. Meanwhile, ZOVOO also displayed its newly developed disposable products DRAGBAR series for the first time to the public, which attracted widespread attention from distributors worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211126005521/en/ (Photo: Business Wire) Founded in 2010, ZOVOO has sophisticated research and develop capability, forward-looking product design and perfect supply chain system. ZOVOO founding team has 10 years of proven strength and experience. They have the absolute advantages in terms of heating materials, air channel structure design, etc., and build up the five criteria of good flavor. The birth of each product needs to go through from R&D, design, product
Indeed and Quandoo Announce Partnership to Support the Restaurant Industry Hiring Crisis26.11.2021 15:21:00 CET | Press release
Indeed, the world’s largest jobs site, and Quandoo, one of the fastest growing restaurant reservation platforms worldwide, today announce a partnership to support the restaurant industry's current hiring crisis. This partnership will see restaurants be provided with £50 credit to post a sponsored job advertisement on Indeed’s platform. Sponsored jobs advertisements receive optimal visibility and are more likely to deliver hires* which Indeed and Quandoo hope will connect staff with the restaurants that need them the most. Employers posting a job on Indeed for the first time will have £50 credited to their account to start sponsoring their jobs and reaching more candidates. Employers in the UK can claim the offer here. “We are so excited about this partnership. It’s a topic that is close to home for us at Quandoo as we are hearing how challenging it is to find staff from our partners. So we wanted to do our bit to support the wider industry in any way we can. By partnering with Indeed w
The Leading Event for Payment, Identification and Security Professionals, TRUSTECH will present all the Latest trends in the sector26.11.2021 10:34:00 CET | Press release
For three days, professionals of the cards and digital trust technologies industries will meet at the TRUSTECH exhibition in Paris to discuss the issues and challenges of identity, security and payment, which are the real pillars of the digital transition for institutional or commercial organisations. A panel of international speakers will share their insights across the multiple conference sessions The 6,000 attendees expected from all over the world will also be able to discover concrete solutions to optimise their business and develop their practices. Visitors will have FREE access to participateat Trustech conferences program. AUTHENTICATION AND IDENTIFICATION: A STRATEGIC ISSUE FOR GOVERNMENTS AND ORGANISATIONS These new demands on governments require the use of increasingly complex technologies and processes.Digitization brings into question how the use of physical official documents will be used in the future. It also implies there will be new innovations regarding how physical
Vifor Pharma supports Iron Deficiency Day 2021: Call to action for early iron deficiency diagnosis26.11.2021 07:00:00 CET | Press release
Already for the seventh consecutive year of Iron Deficiency Day, Vifor Pharma is supporting a growing international alliance including the Heart Failure Policy Network, European Kidney Health Alliance, Global Heart Hub and Croí the West of Ireland Cardiac Foundation with the aim to educate people about the importance of iron for the body and what can happen if iron levels are not properly managed. Iron Deficiency Day 2021 encourages people at risk to listen to their body, to take iron seriously and to take control over their health by seeking early diagnosis and medical help from their physician. Iron Deficiency affects about half of the patients with chronic kidney disease2 and chronic heart failure and is associated with reduced quality of life3, an increased risk of hospitalization4 and cardiovascular death5. Despite the serious consequences and high prevalence, of iron deficiency, the condition remains under-recognized6. Diagnosis and treatment of iron deficiency has been further i
LightCON Unveils Global Teaser Site for New Mobile Game 'Rise of Stars (ROS)'26.11.2021 03:00:00 CET | Press release
Rise of Stars (ROS), a new mobile game that is being developed by LightCON, a subsidiary of WEMADE MAX (Co-CEOs: Hyunguk Chang, Gilhyung Lee) (KOSDAQ: 101730), today opened its global teaser site. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211125006252/en/ LightCON unveils global teaser site for new mobile game 'Rise of Stars (ROS).' ROS is a new mobile SF strategy game featuring elaborately designed warships and planets set in the vast universe. Under the slogan, 'The 4x Blockchain Game for the Greatest Conqueror,' the teaser site was designed to help users experience the unique atmosphere of ROS and the game concept with the representative image of the game. ROS will be building a system for players to obtain game tokens through resource mining within planets. It aims for a global launch in the 1st quarter of 2022. (Graphic: Business Wire) Under the slogan, ‘The 4x Blockchain Game for the Greatest Conqueror,’ the tease
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom