![[US] Deel reaches $17.3 billion valuation and plans global expansion](http://gpa.net/cdn/shop/articles/bigstock-Double-Exposure-With-World-Map-225082393_f44631d5-d079-4b47-b0a4-4744a3fe3a97_1200x.jpg?v=1761119615)
On October 26, the payroll startup Deel announced that it had raised $300 million in a funding round, bringing its valuation to $17.3 billion, Reuters reports.
New investor Ribbit Capital led the round, alongside existing backers Andreessen Horowitz and Coatue Management.
The San Francisco-based company reportedly said it plans to use the fresh capital for acquisitions and expand its payroll infrastructure with the goal of offering native payroll in more than 100 countries by 2029.
The Series E fundraising round comes during Deel’s ongoing litigation with rival Rippling, which has sued the company, alleging racketeering, trade secret misappropriation and unfair competition. Deel filed a defamation suit against Rippling in April, calling the claims a multi‑year smear campaign.
Earlier this year, Rippling raised $450 million in a Series G funding round, valuing the company at $16.8 billion.
Deel Chief Executive Alex Bouaziz declined to comment on the litigation but termed it a "frivolous lawsuit".
Mr Bouaziz stated that Deel crossed $100 million monthly revenue for the first time in September, and claimed it generates roughly $15 million to $17 million in earnings before interest, taxes, depreciation and amortisation.
Source: Reuters
(Link via original reporting)
On October 26, the payroll startup Deel announced that it had raised $300 million in a funding round, bringing its valuation to $17.3 billion, Reuters reports.
New investor Ribbit Capital led the round, alongside existing backers Andreessen Horowitz and Coatue Management.
The San Francisco-based company reportedly said it plans to use the fresh capital for acquisitions and expand its payroll infrastructure with the goal of offering native payroll in more than 100 countries by 2029.
The Series E fundraising round comes during Deel’s ongoing litigation with rival Rippling, which has sued the company, alleging racketeering, trade secret misappropriation and unfair competition. Deel filed a defamation suit against Rippling in April, calling the claims a multi‑year smear campaign.
Earlier this year, Rippling raised $450 million in a Series G funding round, valuing the company at $16.8 billion.
Deel Chief Executive Alex Bouaziz declined to comment on the litigation but termed it a "frivolous lawsuit".
Mr Bouaziz stated that Deel crossed $100 million monthly revenue for the first time in September, and claimed it generates roughly $15 million to $17 million in earnings before interest, taxes, depreciation and amortisation.
Source: Reuters
(Link via original reporting)
