Our Series E: Building the global infrastructure of work

Today, Deel announced a $300 million Series E funding round, valuing the company at $17.3 billion.

We’re thrilled to welcome Ribbit Capital as a new investor, co-leading this round alongside our long-time partners Andreessen Horowitz and Coatue Management.

Earlier this year, we surpassed $1 billion in annual recurring revenue (ARR). In September, we marked three consecutive years of profitability and a major milestone - our first $100 million revenue month.

Deel processes $22 billion in payroll annually, and serves 35,000+ customers and 1.5+ million workers in 150+ countries. With our Series E, we’ll double down on expanding our infrastructure, advancing AI-powered payroll and HR products, and laying the foundation to serve 100 million employees worldwide.

The Deel Difference

In just six years, Deel has redefined global work. We’ve made it possible for companies to hire talent across borders in a few days, run payroll in more than a hundred countries with one platform, and navigate tens of thousands of compliance laws with the click of a button.

Two principles guided us early on:

First, start with the hardest problem. No HR company was built with a truly global mindset. Most begin in one country, then expand using a patchwork of third parties. We built Deel to be global from the onset and as we grew, we invested in owning our infrastructure. That decision became a unique competitive advantage and a powerful growth accelerator.

Second, make bold bets early. While the industry favored closed ecosystems, we took the opposite approach. We created products that integrate with any tech stack and can be used either as a point solution or as an all-in-one platform. We listen to our customers’ problems and build features and products to meet their needs. The result is entrenched relationships built on trust.

Rebuilding Payroll for the Global Era

Most people don’t realize how broken payroll infrastructure really is - rigid, outdated, and propped up on manual batch processes and fragmented frameworks.

By rebuilding payroll from the ground up, we saw a unique opportunity to reimagine how it should work: an infrastructure that’s fluid, real-time, and continuous. This enables for innovations like Anytime Pay, which lets employees access their actual net earnings at any point during the month.

What makes our approach truly unique is our investment into our own global infrastructure. We’re building the world's first global payroll processing engine which is live in 55+ countries, including the US, Canada, Singapore, South Africa, and Brazil. We own 250+ legal entities, hold financial licenses in the US, Canada, the UK, and the EU, and are on track to reach real-time native payroll processing in 100+ countries by 2029.

Becoming the Global Platform for Work

Over the years, our founding principles have guided us as we grew from two core products into a suite of more than ten. We are seeing rapid growth within every region, product, and customer segment.

The results speak for themselves. Since early last year:

• HR suite growth: Our HR products have grown by 600%, and Deel Engage surged by 1,400%
• US expansion: Adoption of US-centric products (payroll and PEO) is up 1,500%
• Emerging products: Deel Immigration and Deel IT have grown 220% and 410%, respectively
• Global payroll: Grew 450%, becoming a core pillar of Deel’s offering

When trust is present, consolidation follows - we’ve seen a 480% increase in customers using three or more products and a 1,200% increase in those using four or more. It’s the clearest sign that customers see real value in the platform we’re building together.

We’re Just Getting Started

We’ve come a long way - but in many ways, it still feels like day one. Every milestone, every new customer, and every country we enter reminds us how much there’s left to build. We’ll keep listening, and building products that help our customers work smarter, faster, and more seamlessly across borders.

To our customers, partners, and the incredible Deel team around the world: thank you. The journey to reimagine how the world works has only just begun.