Following this announcement, the new anchor investors, including General Catalyst and a sovereign investor, have purchased close to USD 300 million in Deel secondaries from early investors. These investments signal an acceleration of the company’s development process, as well as an important step in the long-term strategy of optimising its suite of solutions.
In addition, the firm will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Deel represents an all-in-one payroll and HR platform for global teams, combining HRIS, payroll, compliance, benefits, performance, and IT asset equipment management into one platform. With the use of AI-powered tools and a fully owned payroll infrastructure, Deep also supports workers across more than 120 countries around the world, focusing on optimising the way businesses scale smarter, faster, and more compliantly.
General Catalyst is a global investment and transformation firm that partners with entrepreneurs in order to drive resilience and applied artificial intelligence. The institution supports founders with a long-term strategy that challenges the status quo, partnering with them from the seed funding round to the growth stages in order to accelerate their development in the industry.
Through this initiative, Deel is set to continue to provide customers and partners with improved, secure, and efficient suite of services, while also accelerating its growth process and the development of the overall financial landscape as well.
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