After two European HR unicorns announces giant funding rounds earliert this month (Hibob and Personio), today, Deel, the remote hiring company shattering job barriers worldwide, announced today that it has raised over €366 million in Series D funding. This takes the total amount raised by Deel to over €543 million, and the company valuation at over €4.7 billion.
This new funding round was led by US-based Coatue, with partners Rahul Kishore and Lucas Swisher leading the deal. Several new and existing investors also participated in this round, including Altimeter Capital, Andreessen Horowitz, the YC Continuity Fund, Spark Capital, Greenbay Ventures, Neo, and many others.
Since Deel’s inception in 2019, the team – growing from four to 400 employees – has been on a mission to make remote work more accessible for teams and businesses everywhere in the world and build the best employee onboarding experience on the market. Today, companies are reimagining what new flexible work arrangements look like to acquire and retain top talent. Deel eliminates remote hiring obstacles and creates an opportunity for all with a platform, tools, and flexibility built for teams to thrive whenever and wherever they want to work.
Deel already serves more than 4,500 customers worldwide from names like Coinbase, Intercom and Shopify in over 150 countries. Whether a company is looking to adopt a hybrid or fully remote work environment or source talent from across the world, Deel’s technology offers payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team. With Deel, businesses can hire employees and contractors compliantly without needing a local entity in less than 5 minutes. Companies can also pay teams in more than 120 currencies with just a click.
Deel CEO Alex Bouaziz commented: “The way people work is fundamentally changing. And it’s never going back. We founded Deel because we didn’t want hiring or payments to prevent businesses from building the best global teams and finding the best global talent. We’re going to keep challenging the norms of how companies operate and continue building tools that shape the future of work.”
