Deel has raised US$300 million in a strategic investment led by Ribbit Capital, with participation from Andreessen Horowitz, Coatue Management, General Catalyst, and Green Bay Ventures.

The New York-based HR and payroll software company is now valued at US$17.3 billion.

Deel also said it reached over US$1 billion in annual recurring revenue and has been profitable for three consecutive years.

The company claims to serve more than 37,000 businesses and 1.5 million workers across over 150 countries, handling US$22 billion in payroll annually.

Deel plans to use the funding for acquisitions, improving its products, and expanding its payroll system to deliver native payroll in over 100 countries by 2029.

🔗 Source: Deel

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