On October 20, 2025, global HR and payroll platform Deel announced the close of a $300 million Series E funding round, valuing the company at $17.3 billion. The round was co-led by new investor Ribbit Capital alongside long-time partners Andreessen Horowitz and Coatue Management, with participation from General Catalyst and Green Bay Ventures.
The funding arrives after a year of milestone performance for the company. Deel surpassed $1 billion in annual recurring revenue earlier in 2025, marked three consecutive years of profitability, and recorded its first $100 million revenue month in September 2025. The platform currently processes $22 billion in payroll annually, serves more than 35,000 customers, and supports 1.5 million workers across more than 150 countries.
Deel plans to use the capital to expand its global payroll processing engine to more than 100 countries by 2029 (currently live in 55+), advance AI-powered payroll and HR products, and lay the foundation to serve 100 million employees worldwide.
The raise positions Deel alongside Rippling (valued at $16.8 billion following its May 2025 round) at the top of the global employment platform market, underscoring investor confidence in the structural growth of distributed workforce infrastructure.
