Deel Hits $17.3B Valuation After Raising $300M From Big-Name VCs
Deel hits $17.3B valuation after raising $300M from big-name VCs — a major milestone that cements its position as one of the fastest-growing global payroll startups. Despite an ongoing legal battle with rival Rippling, top-tier investors continue to back Deel’s expansion and profitability story.
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A Huge Round Led By Top Venture Capital Firms
Deel’s $300 million Series E round was co-led by fintech powerhouse Ribbit Capital and Andreessen Horowitz (a16z). Other returning investors include Coatue Management and General Catalyst, signaling strong confidence in Deel’s long-term potential.
The fresh funding pushes Deel’s valuation to $17.3 billion, marking another win for the HR tech decacorn as it continues scaling globally.
Profitable Growth And Global Reach
Deel says it’s been profitable for three consecutive years — a rare feat for a hypergrowth startup. The company recently surpassed $1 billion in annual recurring revenue (ARR) and even hit $100 million in revenue in September alone.
With 35,000+ corporate clients and over 1.5 million workers in 150+ countries, Deel has positioned itself as the go-to platform for companies managing global teams, currencies, and complex employment laws.
Investor Confidence Remains High
The legal drama with Rippling hasn’t scared off investors. According to Deel, both Ribbit’s founder Micky Malka and a16z’s Ben Horowitz voiced strong public support for the company.
Malka praised Deel as “a brand companies trust,” while Horowitz highlighted that a16z has been “blown away” by Deel’s efforts to build “the best HR platform for global companies.”
These endorsements underscore how Deel’s consistent growth and profitability continue to outweigh industry controversies.
Rippling Isn’t Slowing Down Either
Interestingly, Deel’s fierce competitor Rippling isn’t sitting still. Despite being locked in a lawsuit with Deel, Rippling raised a $450 million Series G round in May at a $16.8 billion valuation.
The rivalry between the two HR tech giants reflects the booming demand for workforce management tools as remote and hybrid work become the global norm.
What’s Next For Deel
As Deel hits a $17.3B valuation after raising $300M from big-name VCs, it’s clear the company is entering its next phase of dominance in the HR tech market. Its combination of profitability, global reach, and strong investor backing positions it well against competitors — lawsuits or not.
For now, Deel’s latest funding round not only strengthens its balance sheet but also sends a strong message to the market: profitability and growth can coexist in tech.
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