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Deel's Valuation Soars to $17.3 Billion Amidst Legal Battles
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Heartspace News Desk
•Source: Reuters, Reuters
Photo by Julio Lopez on Unsplash
TL;DR
Deel secured $300 million in Series E funding led by Ribbit Capital, increasing its valuation to $17.3 billion. The funds will support acquisitions and global expansion, with Deel planning native payroll services in over 100 countries by 2029, while reporting over $100 million in monthly revenue for September and surpassing a $1 billion annual revenue run rate earlier in the year, amidst an ongoing dispute with Rippling.
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Key takeaways
- Payroll platform Deel has secured $300 million in Series E funding, elevating its valuation to $17
- 3 billion, according to Reuters
- The funding round, led by Ribbit Capital and supported by Andreessen Horowitz and Coatue Management, will fuel Deel's strategic initiatives, including acquisitions and global infrastructure expansion
Payroll platform Deel has secured $300 million in Series E funding, elevating its valuation to $17.3 billion, according to Reuters. The funding round, led by Ribbit Capital and supported by Andreessen Horowitz and Coatue Management, will fuel Deel's strategic initiatives, including acquisitions and global infrastructure expansion. Deel aims to provide native payroll services in over 100 countries by 2029. This announcement coincides with an ongoing legal dispute with competitor Rippling. Deel reported exceeding $100 million in monthly revenue for September and surpassing a $1 billion annual revenue run rate in the first quarter.
Related Topics
DeelfundingvaluationpayrollHR techacquisitionRippling
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