Deel, a leading payroll and HR company with headquarters in San Francisco, Tel Aviv, New York, London, and Berlin, has secured $300M in secondary sales from General Catalyst and Abu Dhabi’s Mubadala Investment Company. This investment, which brings Deel’s total funding to $ 680M, is a testament to the company’s potential and its position in the global HR market.
As of December 2024, the company reported an $800 million run rate, a 70% year-over-year growth. Deel has maintained profitability for over two years.
Deel’s vision: simplify global hiring and eliminate borders
Founded in 2018 by Alex Bouaziz and Shuo Wang, who met as MIT students in 2013, Deel envisions a world without hiring borders. After graduating in 2014, they noticed that many talented peers couldn’t access well-paying jobs due to visa restrictions and complex local labour laws. This challenge inspired them to create Deel.
Deel has achieved $800 million in annual recurring revenue within five years as of December 2024. The platform now supports over 35,000 businesses, has processed over $11.2 billion in payments, and enables hiring across 150 countries. Such rapid growth reflects the rising demand for remote solutions and efficient global workforce management.
Deel co-founder and CEO Alex Bouaziz stated, “2024 was a remarkable year for business growth, infrastructure, and product innovation. We’re preparing for an even stronger 2025 and look forward to working with our new anchor investors to maintain this momentum.”
Behind Deel: a global workforce management solution
Deel competes with several global payroll and HR platforms — including Rippling, Remote, Papaya Global, ADP, Oyster, Multiplier, Gusto, and Omnipresent — while setting itself apart in key areas.
Deel’s platform stands out from its competitors due to its unified system that combines HR management, payroll, compliance, benefits, and performance tracking. This comprehensive integration allows companies to efficiently manage their global workforce across 150 countries, handling everything from multinational payroll and tax compliance to benefits administration. Moreover, the platform supports a wide range of payment methods, from traditional direct deposits to cryptocurrencies, providing companies with flexibility and convenience.
Deel facilitates international hiring with ready-to-use, compliant employment contracts and automated data collection. It also provides visa and immigration support for relocating workers and offers a self-service portal for employees to access their payslips, tax documents, and personal information, making processes more transparent and reducing HR workload.
The platform further features customisable dashboards showing real-time payroll data, helping companies monitor global workforce costs, headcount trends, and other key metrics. It also connects smoothly with standard HR software, accounting tools, and productivity platforms. In fact, Deel has recently launched a full-featured mobile app and introduced Deel AI, a smart assistant that instantly provides HR information specific to different regions.
Reshaping HR: AI and remote work in 2025
In 2025, we can expect advanced AI integration, data-driven decision-making, and comprehensive employee experience platforms to shape the future of HR technology.
Deel’s success reflects key workplace trends: the growth of remote and distributed teams, the expanding gig economy, and the demand for flexible, tech-enabled HR solutions. As these trends evolve, companies like Deel are positioned to lead the transformation of global workforce management.
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