The company was last valued at $5.5B in October 2021. Here are the top-line bullets you need to know.
Deel, a provider of remote employee management solutions, has raised $50M in an extended Series D. The round drew participation from Andreessen Horowitz, Emerson Collective, Spark Capital, and Y Combinator.
HOW’S THE COMPANY PERFORMING?
- California-based Deel helps companies hire employees from across 150 countries and automate onboarding, payroll, and compliance processes.
- The company has reportedly surpassed $100M in ARR.
- It is currently growing at a rate of 20% month-over-month.
- The company has over 8K customers, including Shopify, LG, Dropbox, Notion, and Coinbase.
WHY DOES THE MARKET MATTER?
- The global HR software market is expected to reach a value of $33.6B by 2028, growing at a CAGR of 10.1%, according to Verified Market Research.
- The increased adoption of cloud-based workforce management solutions across verticals by businesses of all sizes amid the pandemic has resulted in market growth.