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Global HR and payroll powerhouse Deel announced Thursday that it has skyrocketed to a $17.3 billion valuation after securing $300 million in new funding—fuel for its bold plan to reshape how companies hire, manage, and pay their global teams.

Advised by Orrick Herrington & Sutcliffe LLP, Deel said the Series E round will accelerate its acquisition strategy and expand its product portfolio as it races toward building a truly borderless payroll infrastructure.

The company plans to use the infusion to strengthen its proprietary systems, aiming to deliver native payroll operations in over 100 countries by 2029. Deel also intends to invest heavily in artificial intelligence, enabling next-generation automation and real-time global compliance.

“Reimagining Payroll for the Next Century”

“This round is about doubling down on the global payroll infrastructure we’ve built from the ground up,” said Alex Bouaziz, Deel’s co-founder and CEO. “We’re reimagining how payroll should work for the next century — fluid, real-time, and truly borderless.”

Bouaziz emphasized that Deel’s mission is to become the single platform where companies can build, manage, and pay teams anywhere in the world — a vision increasingly relevant in the age of remote work and decentralized employment.

The funding milestone comes shortly after Deel celebrated three consecutive years of profitability and surpassed $1 billion in annual revenue for the first time, according to the company’s statement.

Expanding a Global Footprint

Deel currently serves over 37,000 businesses and 1.5 million workers worldwide, processing an eye-popping $22 billion in payroll annually. Its roster of clients includes major global brands such as Lego, Puma, FedEx, Novo Nordisk, Fidelity, and Pepsi.

The Series E funding was spearheaded by Ribbit Capital, with continued backing from existing investors Andreessen Horowitz and Coatue Management. Other participants included General Catalyst and Green Bay Ventures.

“We’ve been fans of Deel for a long time,” said Micky Malka, founder of Ribbit Capital. “As a global company with employees in over 100 countries, Deel is uniquely positioned to build products that enable worldwide expansion. The opportunity ahead is limitless.”

Legal and Strategic Counsel

Deel’s legal guidance for the transaction came from Orrick partner Josh Pollick, leading the team through the high-stakes funding round.

With this latest cash injection and a valuation that cements its position as one of Silicon Valley’s most valuable private startups, Deel is sprinting ahead in the race to redefine how work—and pay—flows across borders.