Global HR platform Deel has announced that it has secured USD 300 million in a Series E funding round, with the company now being valued at USD 17.3 billion.
The round was co-led by new investor Ribbit Capital, together with Deel’s long-term partners Andreessen Horowitz and Coatue Management. According to the company, earlier in 2025, it exceeded USD 1 billion in annual recurring revenue (ARR), and in September, it marked three consecutive years of profitability.
Deel’s expansion journey
As detailed by Deel, the company processes USD 22 billion in payroll annually, and currently provides its services to 35,000 customers and 1.5 million workers across 150 countries. With the capital obtained from this Series E round, Deel plans to grow its infrastructure, advance AI-enabled payroll and HR products, and prepare to serve 100 million employees globally.
Since the start of its operations, Deel has been focusing its efforts on optimising global work, with the company enabling its clients to hire talent across borders more efficiently, run payroll across the world with one platform, and confidently navigate compliance requirements. Deel’s approach to global payroll enabled the company to expand substantially, with its payroll processing engine being live in over 55 countries, including the US, Canada, Singapore, South Africa, and Brazil, with plans for further expansion. In addition to owning 250 legal entities, the company has financial licences in the US, Canada, the UK, and the EU. By 2029, Deel intends to reach real-time native payroll processing in over 100 countries.
The beginning of 2025 also saw Deel announcing new anchor investors, including General Catalyst and a sovereign investor, which had purchased close to USD 300 million in Deel secondaries from early investors. These deals marked an acceleration in Deel’s development process and a key step in the long-term strategy of improving its suite of solutions.
Furthermore, towards the end of last year, Deel made another move, acquiring Atlantic Money to solidify its payment infrastructure in Europe and integrate the latter’s fintech expertise into the company. Joining Deel enabled Atlantic Money to merge its approach to delivering financial services with the company’s platform. Through this, the two sought to optimise the overall financial ecosystem for businesses operating globally and offer customers a more secure and optimal money transfer experience.
