Human resources unicorn, Deel, has secured US$300 million in secondary investments from General Catalyst and Mubadala, maintaining its US$12 billion valuation.

This transaction involved existing investors selling shares rather than new capital.

Excluding this deal, Deel has raised nearly US$680 million to date.

The company reported an US$800 million annual revenue run rate for 2024, up 70% year-over-year, and remains profitable for a second year.

Founded in 2019, Deel operates in 150 countries with 5,000 employees.

However, Deel faces legal challenges, including a Florida lawsuit alleging US$2.7 billion in money laundering and violations of US sanctions, which it denies.