Deel Raises $425M in Series E
Deel has successfully raised $425M in a Series E at a $12B valuation led by Andreessen Horowitz.
Company Overview
Deel is a HR Tech company headquartered in San Francisco, CA, founded in 2019 with 2000+ employees.
Global payroll and compliance platform
Fundraising Details
- Amount Raised: $425M
- Round Type: Series E
- Valuation: $12B
- Date: 2024-04-01
- Investors: Andreessen Horowitz
About Deel
Global payroll and compliance platform The company is positioned in the HR Tech sector, serving a growing market with innovative solutions.
Key Information
- Headquarters: San Francisco, CA
- Founded: 2019
- Team Size: 2000+
- Industry: HR Tech
What This Means
This funding round demonstrates strong investor confidence in Deel's vision and execution. The capital will likely be used to:
- Scale Operations: Expand the team and operational capacity
- Product Development: Enhance existing products and develop new features
- Market Expansion: Enter new markets and strengthen presence in existing ones
- Technology Investment: Invest in infrastructure and technology capabilities
Industry Context
The HR Tech sector continues to attract significant investment as companies innovate to meet evolving market demands. Deel's successful fundraising reflects the strong fundamentals and growth potential in this space.
Valuation Milestone
Reaching a $12B valuation marks an important milestone for Deel, positioning the company among notable players in the HR Tech industry.
Looking Ahead
With this new capital, Deel is well-positioned to execute on its growth strategy and continue building innovative solutions in the HR Tech space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.
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This fundraising news was reported on 2024-04-01. For more information about Deel, visit their headquarters at San Francisco, CA.
