Deel raises $425 million

Deel, “the remote hiring company shattering job barriers worldwide,” has raised $425 million in Series D funding at a $5.5 billion valuation. The round was led by Coatue with participation from Altimeter Capital, Andreessen Horowitz, YC Continuity Fund, Spark Capital, Greenbay Ventures, and others.

Founded in 2018, Deel allows companies to hire remote workers in 150 countries while taking care of compliance, payroll, HR, and admin. The startup serves more than 4,500 customers worldwide including Coinbase, Intercom and Shopify.

“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.” – Deel CEO Alex Bouaziz.

“We’ve been on board with Deel since the start and seen how they transformed and developed tools in record time to help create a better experience for businesses and their teams. The future is bright for Deel, but even brighter for the international teams they’re helping unlock across the globe.” – Anish Acharya, general partner at Andreessen Horowitz.