Deel Raises $425M in Series D Funding to Continue Transforming the Future of Work
18.10.2021 15:45:00 EEST | Business Wire | Press release
Deel, the remote hiring company shattering job barriers worldwide, announced today that it has raised $425 million in Series D funding, taking the total amount raised by the company to over $630 million. The latest funding round values the company at $5.5 billion. Deel has become the highest valued company in the global hiring, payments, and compliance space with this investment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211018005567/en/
Deel Interface (Graphic: Business Wire)
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 over 40 of the world’s leading operators.
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 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 unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team—something businesses would have required an entire in-house team to take care of prior. 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.
"We had been tracking Deel since 2020 and were impressed by Alex and Shuo’s vision," said Rahul Kishore, a Senior Managing Director at Coatue. "As we learned more about Deel, we became excited by their increased and impressive scale and believe we are in the early innings of what the team is capable of." Lucas Swisher, a General Partner at Coatue who co-led the round, added, "We were then impressed by how the platform was able to distill something so overwhelming into a tool anyone can use to take global employment from dream to reality."
“The way people work is fundamentally changing. And it’s never going back,” said Deel CEO Alex Bouaziz. “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.”
“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," said Anish Acharya, general partner at Andreessen Horowitz. "The future is bright for Deel, but even brighter for the international teams they’re helping unlock across the globe."
About Deel
Deel is a leading global compliance and payroll solution that helps businesses hire anyone, anywhere. Deel’s technology offers unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team.
Using a tech-enabled self-serve process, Deel’s customers can hire independent contractors and full-time employees in over 150 countries, compliantly and in minutes. With more than 250 legal, accounting, mobility, and tax experts as partners, Deel enables any business to create, sign and send compliant localized contracts from a library of templates and pay teams in more than 120 currencies with just a click.
Founded in 2019 by Alex Bouaziz and Shuo Wang, Deel is a fully distributed company with employees based worldwide. Learn more about Deel here.
About Coatue
Coatue is one of the largest technology investment platforms in the world with over $45 billion in assets under management. Our dedicated team of engineers and data scientists work closely with investment professionals to add value to founders and executive teams in our portfolio. With venture, growth and public funds, we back entrepreneurs from around the globe and at every stage of growth. Some of our private investments have included Airtable, Ant Financial, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap, Snowflake and Spotify.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005567/en/
Contact information
Kiran Wylie
kiran.wylie@letsdeel.com
+44(0)7875057754
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IFF Secures First Heart Health Claim for Soy Protein in Australia and New Zealand31.3.2026 17:00:00 EEST | Press release
IFF (NYSE: IFF), a global leader in flavors, fragrances, food ingredients and health & biosciences announced today that a new heart health claim for isolated soy protein has been accepted by the Food Standards Australia New Zealand (FSANZ). The approval enables food and beverage manufacturers in Australia and New Zealand to link soy protein consumption with healthy blood cholesterol levels. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260330523416/en/ First heart health claim approved for soy protein in Australia and New Zealand. “For decades, IFF has invested in the science behind soy protein and its role in supporting cardiovascular health,” said Tony Andrew, vice president of protein solutions for IFF Food Ingredients. “This approved claim validates years of rigorous research and collaboration. With our deep expertise in ingredient science, application and scale, we are well-positioned to help our customers translate th
Andersen Consulting Strengthens Capabilities with Addition of Lukkap31.3.2026 16:30:00 EEST | Press release
Andersen Consulting adds collaborating firm Lukkap, a consultancy focused on experience-driven capabilities aligned with clients’ evolving people, customer, and digital transformation needs. Founded in 2009 and headquartered in Spain, Lukkap delivers integrated solutions that help organizations transform how they serve customers, engage employees, and unlock value through behavioral insights and data analytics. The firm’s multidisciplinary approach spans customer journey redesign, high-impact employee experience programs, talent and leadership development, predictive analytics, and comprehensive outplacement and transition services. Lukkap works across sectors — including healthcare, pharmaceutical, consumer goods, retail, finance, and banking — to build human-centered strategies that drive measurable business results. “By combining our experience-led methodology with Andersen Consulting’s global platform, we can accelerate the way organizations approach customer experience,” said Albe
Sub-Q Bionics Closes $1.5M Pre-Seed Round to Advance Next-Generation Solution for Lymphedema Care31.3.2026 16:26:00 EEST | Press release
Sub-Q Bionics, a medical device company developing next-generation solutions to improve care for patients living with lymphedema, today announced the successful close of its $1.5 million pre-seed funding round. The round includes investment from Mayo Clinic and Yeda, the technology transfer company of the Weizmann Institute of Science, as well as several private investors. The Israel Innovation Authority also provided matching funds. The funding will enable Sub-Q Bionics to continue to develop its novel bionic lymph node technology designed to transform how lymphedema is managed, based on scientific innovations from the Weizmann Institute and Shamir Medical Center. The system aims to provide a solution to manage fluid with a subcutaneous implant that will allow patients freedom of movement, automatic fluid management and reduction of symptoms such as pain and swelling. Lymphedema affects millions of patients worldwide, especially breast cancer survivors, and remains significantly under
HTEC Achieves SOC 2 Type II Attestation, Reinforcing Commitment to Client Trust31.3.2026 16:25:00 EEST | Press release
HTECtoday announced that it has successfully achieved a SOC 2 Type II attestation, audited by Deloitte, demonstrating the company’s commitment to maintaining high standards in security, availability, and confidentiality. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260331132225/en/ HTEC today announced that it has successfully achieved a SOC 2 Type II attestation, audited by Deloitte, demonstrating the company’s commitment to maintaining high standards in security, availability, and confidentiality. For clients, this means working with a technology partner whose practices are standardized, consistently executed, and independently verified over time. It reflects a level of operational maturity where security, reliability, and data protection are built into every engagement. Achieving this standard required coordinated effort across the entire organization. Compliance, engineering, delivery, security, IT, legal, and people t
Impartner Redefines Partner Marketing Automation with Full Automation, AdTech and AI to Drive Measurable Revenue31.3.2026 16:00:00 EEST | Press release
Impartner, the world’s leading partner revenue orchestration platform, today announced a major advancement that unifies partner marketing automation within the platform, powered by full automation, AdTech and AI to turn partner marketing into measurable revenue. As partner ecosystems expand across regions, marketplaces and multi-tier models, marketing execution has often remained fragmented. Impartner eliminates those gaps by unifying recruitment, enablement, campaign automation and performance tracking within a single operational system, making partner demand generation and marketing fully operational, measurable, and scalable across all partner interactions. “What makes partner marketing successful is not content distribution, it’s execution, scale and measurable pipeline and revenue,” said Emile van de Klok, Senior Director of Channel Marketing Solutions at Impartner. “By redefining partner marketing automation and embedding it directly into our revenue orchestration platform, we en
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom