Deel has raised US$300 million in a Series E funding round, pushing its valuation to US$17.3 billion as it accelerates its mission to simplify global work. The latest investment was led by Ribbit Capital, with continued backing from Andreessen Horowitz, Coatue Management, General Catalyst, Green Bay Ventures and others.
The funding marks a new chapter for the global HR and payroll platform, which has seen a record year of growth and profitability. September 2025 was its third consecutive profitable year and its first month exceeding US$100 million in revenue. Earlier in the year, Deel surpassed US$1 billion in annual recurring revenue, highlighting its position as one of the most prominent players in the global payroll space. The company now serves more than 37,000 businesses and 1.5 million workers across over 150 countries, processing US$22 billion in payroll annually.
“We’re proud to welcome some of the world’s best investors as partners in this next chapter for Deel,” said Alex Bouaziz, Co-founder and CEO of Deel. “This round is about doubling down on the global payroll infrastructure we’ve built from the ground up. We’re reimagining how payroll should work for the next century – fluid, real-time, and truly borderless – and continuing our mission to become the single platform where companies can build, manage, and pay their teams anywhere in the world.”
Building a borderless payroll future
The new capital will support Deel’s strategic expansion plans, including targeted acquisitions to strengthen its product offerings and extend its global presence. A significant portion of the investment will go into further developing its proprietary systems and operations, with the goal of delivering native payroll capabilities in over 100 countries by 2029.
Artificial intelligence will also play a central role in the company’s future plans. Deel aims to enhance automation across its HR and payroll suite and attract top AI talent to develop new capabilities that streamline payroll and workforce management on a global scale.
Deel’s business momentum is reflected in rapid growth across multiple areas. Its US products, including professional employer organisation (PEO) services and payroll solutions, grew by 1,500%, while HR products saw 600% growth. Global payroll revenue increased by 450%, while the Deel Immigration product grew by 220% and Deel IT by 410%. The company also recorded a 480% increase in customers using three or more products and a 1,200% increase in those using four or more.
The platform’s appeal has extended to some of the world’s leading enterprises. Recent customers include LEGO, Puma, Virgin Media, Klarna, Capgemini, FedEx, Nubank, Palantir, Novo Nordisk, Fidelity and Pepsi, underlining Deel’s growing role as essential infrastructure for companies managing distributed workforces.
Confidence from investors
Investors have expressed strong confidence in Deel’s potential to redefine global payroll and workforce management. “We have been fans of Deel for a long time, it’s a brand companies trust and we’re excited to invest,” said Micky Malka, Founder at Ribbit Capital. “Deel – itself a fully remote, global company with employees in over 100 countries – is uniquely positioned to build products for global expansion. The company and its leadership have a limitless opportunity ahead of them.”
Ben Horowitz, Co-founder of Andreessen Horowitz, added: “Since our first investment into Deel in 2020, we’ve been blown away by the Deel team’s pursuit of building the best HR platform to offer access to employment opportunities and financial services for the global workforce. Deel’s continued progress is a testament to how essential their infrastructure has become to customers everywhere, and we are thrilled to co-lead this latest round.”
With its latest funding and strong market position, Deel is set to continue shaping the future of global work, enabling companies of all sizes to build, manage and pay teams anywhere in the world.
