Deel, a payroll and HR company announced that new anchor investors, including General Catalyst and a sovereign investor, have purchased close to $300 million in Deel secondaries from early investors in the company.
The company also announced that it has achieved a run rate of $800 million as of December 2024, which has grown 70% year-over-year. The business has been profitable for more than two years.
Deel co-founder and CEO Alex Bouaziz said, “2024 was a remarkable year in terms of business and infrastructure growth, plus product innovation. We’re gearing up for an even bigger 2025. We look forward to working with new anchor investors to continue our momentum in the years ahead.”
“We are proud to deepen our investment in Deel, a transformative platform that empowers global workforce enablement and drives economic growth around the world. What began as a seed investment at La Famiglia has grown into a business that aligns perfectly with the GC Famiglia ethos – helping more people get hired and businesses grow faster. Deel’s focus on enabling large enterprises to navigate the complexities of a global workforce fits well with our mission to back bold ideas that create enduring value,” said Jeannette zu Fürstenberg, Managing Director of General Catalyst and Founding Partner of La Famiglia.
Founded in 2019 by Alex Bouaziz and Shuo Wang, Deel is the all-in-one payroll and HR platform for global teams. Built for the way the world works today, Deel combines HRIS, payroll, compliance, benefits, performance, and IT asset equipment management into one seamless platform.
Since its graduation from Y Combinator in 2019, Deel has evolved from a two-product hiring solution to a comprehensive suite of products that radically simplifies global workforce management. Deel’s industry-leading platform is now a full-stack solution and system of record that combines HRIS, payroll, compliance, benefits, performance, and more into one seamless platform across 150 countries.
Last year, two new independent board members joined Deel as it prepares for its future: Francis deSouza, former CEO of Illumina and former board member of the Walt Disney Corporation, and Todd Ford, veteran board member and joint President and CFO at Coupa Software.
